I don’t often think an hour with someone is worth a second but with Derek Benstead it was that rarest of things , a good second album.It’s good for any Derek.
For once, this was not a discussion of the merits of defined and not defined benefits but of where demand was coming from.
We concluded that it is coming from Government and if USS and Nest are quasi Government pensions then CDC might be delivered as conditional indexation of a guaranteed pension. I am pleased to hear from Paul Todd that he is keen to present on the 29th July at Pension PlayPen and that he will clear a few miscomprehensions on Nest’s intentions!
While we considered funding of CDC as ideally a whole of life enterprise, Derek accepted that funding from a DC pot at retirement would deliver a more difficult but nonetheless worthwhile retirement income.
There were many alternatives to CDC including those from Chris Giles and John Quinlivan but I think we have got the idea by now, that CDC is a pension that is driven by investment in markets rather than matching liabilities and guaranteeing pensions.
But let me give but a taster of what we heard and said. Here is the full unedited video for your delight. No slides to watch so you can use this as an audio as well as watch the bright face of Benstead , bursting out at you as it does on the title page of his second CDC video for Pension PlayPen
Thanks to PLSA for allowing me to compere from my own room at the LGPS conference, if you guys and girls missed it, here is what I and John Hamilton have been promoting as a service that can be delivered on LGPS admin tracks, an ideal way to make sure that small companies (not eligible for LGPS) can access the high quality of good pension admin independent of consultants or insurers!
A third video on investment will follow, Derek has already been booked in for the autumn!