Tom McPhail
Comment from Derek Scott suggests that tomorrow morning’s meeting may be fun
My AI tells me that Henry Tapper and Tom McPhail have a cordial but sometimes sharply different view of pension policy.
Their exchanges have focused on issues such as tax-free cash before a Budget and McPhail’s idea of using private savings as a bridge to a later state pension age, which Tapper has argued is politically unrealistic.
More broadly, Tapper uses their debates to show that pensions are not just technical questions but political ones.
They often seem to disagree on the direction of reform, but do so in a way that reflects professional respect and a shared interest in testing pension ideas.
My own take on an earlier Playpen appearance by Tom, after he had become a new (and by his own admission, inexperienced) trustee for the Aviva Staff Pension Scheme, was to file away for another day (perhaps tomorrow) Tom’s assertion that any DB trustee with a low dependency funding surplus would surely always move to full buyout.
Does Tom still believe that buyout is the gold standard for DB pensions, which will be this year’s Law Debenture debate? I presume yes.
The invite
The following invite has been sent by Steve Goddard.
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