Coffee Morning – What’s on Will McGrath’s mind?

The theme will be, the exercise of discretion in a time of scheme surplus. What are the advantages of “running-on“. Will Capital Backed arrangements (a la Clara and now TPT) be a welcome addition in this space?

The message from the charts is that there is scope to:

• Make a one-off catch up payment to cover 2020’s inflation spikes.
• Pay 10% extra a year to members with a well funded scheme running-on with a sound sponsor.

DB Members should be activists in this space and should not be taken for granted. Current (and future) employees should expect employers to use surpluses to improve CDC / DC pension provision going forward.

When – Tuesday 27th October 2026 at 10:30am – TODAY!

William McGrath is speaking at Pension PlayPen’s coffee morning today

Click HERE at 10.30am

https://teams.microsoft.com/meet/3844167785881521?p=2khQvfDttydCoGXEej If you prefer the URL

William Mcgrath

In the session we will cover:

–        Where run-on beats bulk annuities in the low risk stakes (thank you TAS300V2.1)

–        PPF is an excellent safety net (FSCS needs an overhaul)

–        Time adds scope for discretion: Pensioners can be given a 10% annual discretionary payment thanks to surpluses and incoming Authorised Payment rule changes.

–        Government: Link incentives for schemes and life insurers to have pro-UK (and gilt maintaining) investment strategies for £1.3 trillion backing UK pension liabilities.

• John Hamilton will explain the public policy ethos of the Pensions And Growth Alliance (PAGA). “The Rabble”.

All stakeholders should tune in.

The discussion will chime in with papers McGrath and his colleagues have prepared in response to Torsten Bell’s stated love of charts