Author Archives: henry tapper

About henry tapper

Founder of the Pension PlayPen, Director of First Actuarial, partner of Stella, father of Olly . I am the Pension Plowman

More market consistent follies – Con Keating on DB and DB transfer values

Today we’ll be looking at DB transfer values at our pension play pen lunch. Con can’t be there but has asked that his thoughts be fed into the debate- here they are These past few weeks, two new subjects have … Continue reading

Posted in actuaries, pensions | Tagged , , , , | Leave a comment

Ignore “bad “; let’s big-up good asset management!

The asset management industry will get nowhere trying to defend bad practices. It should be celebrating its success stories. We have good active managers in this country and we have good passive managers, protecting bad practice among bad asset managers … Continue reading

Posted in consultant, corporate governance, customer service, pensions | Tagged , , , , , | 3 Comments

Why are DB transfers out of control? Pension PlayPen lunch – Monday 5th Dec

DB TVs have never been so big! Is it a case of “transfer now while bond yields are low?”. Henry is back in charge of the pension play pen lunch this Monday and we’ll be meeting at the Counting House … Continue reading

Posted in pensions | Leave a comment

Is the USA the model to recover our DB deficits?

This article was published on and reports how American pension finances are recovering through perseverance in growth assets and from an uptick in interest rate projections. Just how relevant it is for the UK- I’ll leave for you to … Continue reading

Posted in pensions | Tagged , , , , , | Leave a comment

Why some transfer values are (ridiculously) high.

A cash equivalent transfer value (CETV) is a right of anyone in a defined benefit pension scheme. The following explanation is taken from the Pensions Regulator’s website. A CETV represents the expected cost of providing the member’s benefits within the … Continue reading

Posted in pensions | Tagged , , , , , , | 7 Comments

The curse of the transfer value!

There is a curse to having money that was bequeathed us by the later Chancellor. It is called “freedom” and it applies to the rights that  baby boomers have in final salary schemes. It’s not just those in their fifties, many … Continue reading

Posted in pensions | Tagged , , , , | Leave a comment

The IGCs must not slip into the pocket of their provider

I hear worrying reports of various IGCs meeting and pronouncing their tasks “too hard”. Phrases such as “I don’t know how this would play with my provider” have no place in an IGC’s lexicon but they are reported as littering these … Continue reading

Posted in pensions | Tagged , , , | Leave a comment

Advisers turn the key to the FCA’s fund governance condundrum.

One of the recent themes of this blog is  “What rights we have over “our money”. John Kay’s book – “other people’s money” argues that the money held on account by asset managers should always be considered as held in trust … Continue reading

Posted in pensions | Tagged , , , , , , | Leave a comment

How to get out of auto-enrolment (without a penalty notice)

    As everyone knows – I am a fan of auto-enrolment and have made my living through helping employers engage with workplace pensions and encouraging compliance. The rest of my blog is not an encouragement to small businesspeople … Continue reading

Posted in pensions | Tagged , , , , , , , | Leave a comment

Taking possession; how’s Workie performing ?

There’s an urban (pension) myth that it’s not until your pension is worth as much as your car that you take any notice of it. My car has been written off twice and has a scrap value of £1000 so … Continue reading

Posted in auto-enrolment, pensions | Tagged , , , , , , , | 1 Comment