Category Archives: actuaries

What now for the new BSPS and its members?


I was sent an announcement yesterday about the new British Steel Pension Scheme. It’s a complicated message and I’ve tried to add comments that explain what each paragraph means in a little easier way. My comments are in green. They … Continue reading

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

Alright LCP and First Actuarial – here’s my ESG challenge to you!


I’d alert readers to an excellent thought piece by LCP consultant, Sam Cobley. You can read it here. Sam ponders why, while every trustee and IGC chair is now commenting on Responsible Investment and Environmental, Social and Governance issues. So few … Continue reading

Posted in actuaries, First Actuarial, pensions | Tagged , , , , | 4 Comments

“Too prudent for its own good” – how under-risking DB schemes causes new problems.


Someone , somewhere on the multiple threads surrounding USS, has asked me if I think that transfers out of USS are likely to be the next miss-selling scandal.  I think it unlikely, and to explain why, I need to explain … Continue reading

Posted in actuaries, advice gap, annuity, pensions | Tagged , , , , | 1 Comment

In defence of small pension schemes


I went to bed worrying about this statement and woke up with it still rattling round my brain.  “A lot of employers are fed up with their pensions and want to see the back of them, they want to see … Continue reading

Posted in actuaries, pensions | Tagged , , , , , , | 11 Comments

If Tesla did pensions…


Hi!, I’m Oliver Payne and being the good Actuary that I am, I could not write something like this without first stating the caveats. So let me clarify a few things: this should not be considered Actuarial advice, the views … Continue reading

Posted in actuaries, pensions | Tagged , , , , , | 2 Comments

Oxford’s and Cambridge’s role in the demise of USS – Mike Otsuka


To be more precise: what follows is an account of the role of these two universities, and their constituent colleges, in the demise of USS as a multi-employer scheme that promises a decent, defined benefit (DB) pension to its members. … Continue reading

Posted in actuaries, pensions, USS | Tagged , , , , , | 2 Comments

And just what is it that you want to do?


This is the clip that was sampled for  Primal Scream’s Loaded “Just what is it that you want to do?” “We wanna be free. We wanna be free to do what we wanna do, and we wanna get loaded and have … Continue reading

Posted in actuaries, CDC, pensions | Tagged , , , , | 1 Comment

How certain are my client’s state benefits?


The old adage “there’s nothing certain except death and taxes”, sadly did not include pensions, not even the state pension. Behavioural science suggests that the further we look into the future , the more we crave the security of certainty. … Continue reading

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

The Loch Ness Monster is back (in fact it never went away!)


  If you didn’t hear last night’s Radio 4 documentary “the Transparency Detectives”, you can listen to it here. It’s a great piece of work and no praise is to high for Lesley Curwen and her team who tackle the subject … Continue reading

Posted in actuaries, advice gap, IGC, investment, pensions | Tagged , , , | 1 Comment

As Carillion goes bust, First Actuarial shows PPF can take the strain.


Carillion’s dramatic and sudden insolvency is likely to push its 13 defined benefit (DB) schemes, and their 28,000 members, into the Pension Protection Fund (PPF). However, as reports emerge of a combined section 179 (s179) shortfall of as much as … Continue reading

Posted in actuaries, First Actuarial, pensions | Tagged , , , | 7 Comments