Monthly Archives: July 2023

Little cause for celebration from USS valuation

Posted on July 20, 2023 by henry tapper

USS – no time for complacency The headlines are good. USS is wearing a surplus of over £7bn rather than a deficit of £14bn, it is proposing a contribution schedule that makes pensions affordable to employers and (if the 65/35 … Continue reading →

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USS shows its workings – including a £16bn fall in assets in a single year

Posted on July 20, 2023 by henry tapper

The USS has published its April 2023 Valuation Technical Provisions which can be downloaded here You can read them on the presentation at the bottom of the document (without a title page). Well done USS for sharing them. The headline … Continue reading →

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A stealthy wealth tax – outed by LCP

Posted on July 20, 2023 by henry tapper

The Treasury has proposed that pensions will be taxed where the saver dies before age 75. This is how the Treasury introduce the idea Schedule 32 sets out that the payment of an UFLSDB or DBLSDB is a BCE where the member dies under age … Continue reading →

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The Bank of England’s Inability to Tackle Inflation (Roger Gewolb)

Posted on July 19, 2023 by henry tapper

This blog encourages frank expressions of views. I’ve been approached by Leading fair financial expert, entrepreneur and broadcaster, Dr Roger Gewolb, to re-publish this article that first appeared in Business Leader, it’s frank! It takes a look into the Bank of … Continue reading →

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Kitchens are the new Lamborghinis

Posted on July 19, 2023 by henry tapper

I remember telling LBC’s Nick Ferrari live on LBC, that pensions wouldn’t be used to buy Lamborghinis – wives would put a stop to that. I have been proved right. One in five over 55s use tax-free pension for home … Continue reading →

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Pension Superfunds are more than the “poor man’s buy-out”

Posted on July 19, 2023 by henry tapper

The Government has radically changed its position on pension superfunds, at last giving feedback on its 2018 consultation and making clear that pension superfunds are helpful to pension consolidation and support the wider aims of the Treasury. The response to … Continue reading →

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How businesses can get more value from their pension schemes

Posted on July 18, 2023 by henry tapper

Thanks to Bradley Gerrard writing in Raconteur for this great piece. I’m not sure that I was as eloquent as he’s made me – he quotes me  better than I quote myself. You can read the original article here.  How … Continue reading →

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Public sector workers deserve better VFM from pension payments !

Posted on July 18, 2023 by henry tapper

  The LGPS is the poster child for funded British pensions right now. The Government is urging them to go further, faster into private market investments calling for a further £24bn of its funds to be invested in productive capital … Continue reading →

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LGPS – a model investor for the private sector?

Posted on July 18, 2023 by henry tapper

It’s obvious Those familiar with the “au-pairs” will get the reference, in the  eighties it was obvious that men and women got different treatment , though they were equal in the eyes of God (or so I thought). I think … Continue reading →

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Extending Auto-Enrolment is a Mansion House reform

Posted on July 17, 2023 by henry tapper

There has been criticism of the DWP and Treasury’s Mansion House reforms as not constituting  a coherent vison for pensions. I think that this is misguided. Whether in relation to corporate DB, LGPS or DC pensions, the reforms represent a … Continue reading →

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