Despite the smile and the diaphanous shot of Temple Island Henley, there is no soft-focus to Paul Brine – pension trustee and champion of running pensions on. linkedin.com/in/paul-brine
Paul is speaking at our Pension PlayPen coffee morning this morning. It should be sharp and to the point.
I can encourage readers of this blog with this free link to join us, though I hope by now you will have subscribed to the excellent site run by Steve Goddard.
You can use this link to join Paul and me today (Tuesday) at 10.30am.
Im conversation with Paul Brine – Independent Trustee – Could DB schemes act like insurers unlocking sizeable (£ billions) for members and UK plc
Paul is a Director of St John Management and recently submitted a paper to DWP suggesting that many (but not all) DB schemes, with the appropriate checks and safeguards, could safely increase their portfolio yield risk and thereby make available £-billions for the benefit of members and UK.
This could be achieved by:
- Allowing DB schemes to run-on at Gilts+150-200bp
- Prescribed long term run-off portfolio for a DB scheme of Gilts +50bps compliant with the draft DB Funding Code
- Identifying trapped surplus which is an asset and UK plc which can reasonably expect to get some of that benefit having, effectively, over-funded the DB scheme for many years.
Should be an excellent discussion and we would also welcome your input and thoughts!
Paul has held various Trustee pension scheme positions with schemes from £50mm in assets to £3.5bn in DB, DC and hybrid structures. He has been a trustee since 2006, focussing on investments & funding risk, valuations, governance and reporting. He has chaired at both Trustee and Committee level and uses his extensive and broad risk management experience to drive positive outcomes and to improve the delivery of advisory services.
Paul’s background is in fixed income, derivative and credit markets having spent 30 years in capital markets and asset management in investment banking. He also has been approved as a Solvency II Life (Class 1) insurance company director.
Paul holds an M.A. in Natural Sciences from St John’s College, Cambridge and is a PMI accredited Professional Trustee.
