Monthly Archives: July 2023

Happy “consumer duty” day

Posted on July 31, 2023 by henry tapper

Happy Consumer Duty day 🎁 — Tom McPhail (@PensionsMonkey) July 31, 2023 In my worktime, I’ve seen remarkably few days where the regulatory framework changed. For consumers they included A day when the polarization between independent and tied advice was … Continue reading →

Posted in pensions | 1 Comment

We need a new model trustee

Posted on July 31, 2023 by henry tapper

This morning I published a short piece on how the Mansion House reforms empower trustees to be bolder and take exert power on behalf of members. It was inspired by Dalriada’s David Fogarty, a trustee who recognizes that if trustees … Continue reading →

Posted in pensions | Tagged , , | Leave a comment

Trustee futures are managed by outcomes not by tasks

Posted on July 31, 2023 by henry tapper

Responding to the DWP’s recent call for evidence on the future or pension trusteeship, David Fogarty, a director and professional Trustee at Dalriada Trustees, said the call for evidence was an opportunity to reshape what trusteeship looks like. “We generally … Continue reading →

Posted in pensions | 1 Comment

The very unsensible policy agenda handed to TPR – POD 28.

Posted on July 30, 2023 by henry tapper

The best thing I can say about this week’s VFM p0dcast is that it entirely sensible. Louise Davey, who is its star, turned down an ambition to take a degree for a more exciting opportunity in pension administration and her … Continue reading →

Posted in pensions | Tagged , , , | 8 Comments

SJP shows vulnerability from an undiversified revenue model

Posted on July 30, 2023 by henry tapper

This is enormous news. An exceptional hit of £860m directly attributable to #consumerduty That’s a very large sacrificial offering to the regulatory gods. Every single large FS firm will be looking at this & understand very clearly how seriously this … Continue reading →

Posted in pensions | Tagged , , , , , | Leave a comment

Run on or buy-out – Hymans think outside the box

Posted on July 29, 2023 by henry tapper

One of the wonders of the post Covid world has been the rise of the webinar and the sharing of IP by the pension fraternity. No consultant has done more in this space than Hymans Robinson and it is greatly … Continue reading →

Posted in pensions | Tagged , , , , | 3 Comments

BBC should talk to Royal Mail to avoid conflict over pensions

Posted on July 29, 2023 by henry tapper

Quasi -state sponsored pension scheme with pension-savvy staff representatives seeks solution to defined benefit funding conundrum” – sound familiar? For BBC – read Royal Mail For Licence Fee read postal monopoly For Bechtu – read CWU For solution – read … Continue reading →

Posted in pensions | Leave a comment

Edi Truell on why “TPR is on the warpath”.

Posted on July 28, 2023 by henry tapper

  Edi Truell has more reasons than most to back the Mansion House reforms. Through his investment vehicle – Disruptive Capital – he is offering an investment trust known as “Long Term Assets” . As the founder and funder of … Continue reading →

Posted in pensions | Tagged , , , , , | Leave a comment

Why LGPS is pension’s poster child

Posted on July 28, 2023 by henry tapper

No pension scheme had a good 2022, but some survived a bad year better than others.  Of funded schemes, LGPS emerged with flying colours. Amongst public sector schemes, being valued with reference to gilts rather than the SCAPE rate, did … Continue reading →

Posted in pensions | Tagged , , | 1 Comment

Stop the blood-letting at Nat West

Posted on July 28, 2023 by henry tapper

Alison Rose was forced to resign as CEO of NatWest because of political pressure. As the largest shareholder in NatWest, the Government thought the best way to diffuse the row was to force her resignation that came in the early … Continue reading →

Posted in pensions | Tagged , , | 3 Comments