Category Archives: actuaries

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

The impact of low pension savings on retirement incomes – Gareth Morgan


Income certainty and low pension savings There is concern, increasingly voiced, by some well-informed commentators, about some of the consequences of the pension freedoms. The complexity of choices, the lack of knowledge of most pension savers and the actions of … Continue reading

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CDC – the nuclear fission of the pension system.


  The way we safeguard our pensions today This blog looks at the different way people are protected from mischief depending on what type of retirement savings plan they are in. I’m thinking about this because I have various meetings … Continue reading

Posted in actuaries, advice gap, CDC, defined ambition, pensions | Tagged , , , , , , | 2 Comments

Has the hardest nastiest problem in finance just got a little easier?


I enjoyed reading this serious and sensible argument by Steven Lowe of “Just”.  I suspect that most financial advisers reading it will conclude, as I do, that planning an income for the final years of someone’s life is so fraught that (if … Continue reading

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Some commercial considerations for CDC


So who’s going to “sell” CDC? What an odd question! I can see the friends of CDC choking over their cornflakes at my asking this question. In the gentile world of policy- it is rarely done to use the “s” word! … Continue reading

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“Spanish steps” – ideas on pension funding from Jon Spain.


Jon Spain is an eccentric brilliant actuary who has worked for many years worked at the Government Actuary’s department. I am proud he has asked me to provide a précis of his response to Charles Cowling’s Sessional Paper to the Institute … Continue reading

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