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

Helping young staff to a home of their own


There’s increasing help in the workplace for those planning retirement or struggling with debt.  “Financial well-being” is this year’s “financial education” and the healthcare organisations have worked out that a solvent workforce is a workforce less likely to suffer from … Continue reading

Posted in pensions | Tagged , , , , | 3 Comments

Auto-protection from an autodidact (the joy of Johnson).


One of the joys of Michael Johnson’s 40 or so papers on pensions is that you never know what to expect next. Johnson deliberately sets himself apart from the industry to rail at it. He is at his best when … Continue reading

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

Moral hazard – Con Keating


This expression has been widely used in recent pension reports and consultations. It has wide currency in the world of insurance, and academic finance, where it is a term of art. Many of its recent uses are deeply problematic and … Continue reading

Posted in pensions | 2 Comments

Should we be wary of cheap financial advice?


Robert Reid is a very professional IFA and  someone I like a lot. He represents IFAs and stands up for their interests in Money Marketing. His latest article argues that “cheap advice” especially cheap advice on pension transfers, is wrong. … Continue reading

Posted in pensions | Tagged , , , , , , | 5 Comments

Who’s kidding whom – on DC pension governance?


I was “privileged” to spend a whole day with one of the many employer groups we have in Britain.  This meeting brought together Directors (especially FDs and Heads of HR) of  Research and Technology organisations. This was a paternalistic group … Continue reading

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

Get a grip and a sense of humour


The sky is full of helicopters and the streets wail with sirens. It is 9 am on the morning after the latest “terrorist” attack and Westminster and the City are on red alert. One nutter decided to go on the … Continue reading

Posted in pensions | Tagged , , | Leave a comment

Cridland and the price of state dependency


  John Cridland’s consultation report into the state pension age, commissioned by Ros Altmann and delivered today, does not say quite what the modernisers wanted it to. Accelerated pension ages and the scrapping of the triple lock deliver a double … Continue reading

Posted in actuaries, advice gap, pensions | Tagged , , , , , , , | 3 Comments

Standard Life’s IGC Statement – two greens and a red!


The Standard Life IGC’s chair report was published on Friday. You can find it here https://www.standardlife.co.uk/c1/independent-governance-committee.page. As a note to Standard Life, it would be good if this report could be given more prominence on your home page, you can … Continue reading

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

My biggest financial decision was made with professional advice.


The most important single financial decision facing the baby-boomers of middle England today is what to do with their defined benefit pension rights. It is – alas – a binary decision as few schemes offering split transfer values; the choice is “should I stay … Continue reading

Posted in pensions | Tagged , , , , | 3 Comments

FAB index up despite fall in gilt yields!


  In contrast to the PPF 7800 index and other commentators’ indices, First Actuarial’s Best estimate (FAB) Index improved in February to a surplus of £288bn across the 6,000 UK defined benefit schemes. This was despite a sharp fall in … Continue reading

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