Category Archives: Bankers

“A decision to take a transfer cannot be reversed and should not be rushed”


This blog is mainly written for deferred members of the British Steel Pension Scheme, but many other people may find it interesting. There’s no doubt that what is going on in Tata-land, will go on with other employers who feel … Continue reading

Posted in accountants, advice gap, Bankers, Change, drawdown, Facebook, pensions | Tagged , , , , , , , , , | 8 Comments

The legitimate concerns of BSPS members


‘ From the little time I have spent talking online with BSPS members, I have been impressed with the matter of fact way they are dealing with the choices presented to them. Here is a case study of the complexity faced … Continue reading

Posted in annuity, Bankers, BSPS, pensions | Tagged , , , , , , | 14 Comments

TPR- the price of pensions can fall as well as rise.


The Pensions Regulator appears to have forgotten one of the fundamental laws of gravity-  “what goes up, must come down”. In consumer finance this translates into “the value of investments can fall as well as rise” and in the case of the … Continue reading

Posted in Bankers, pensions | Tagged , , , , , | 10 Comments

Diversity, Narratives* and Pensions (Con Keating)


This blog first appeared in Professional Pensions, if you’ve read it before, read it again. “What we observe is not nature itself, but nature exposed to our method of questioning.”    W. Heisenberg, Physics and Philosophy: The Revolution in Modern … Continue reading

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

“Breaking ranks” with a pernicious orthodoxy.


  In a significant interview with the FT, Michael Higgins, former chair of the Pension Regulator and chair of a £12bn pension trust argues that valuing pension liabilities using the gilt yield is leading to a …. “significant misallocation of resources — … Continue reading

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

“Why do we see pensions like that?” Assumptions behind the FAB Index


This week we published the FAB index (FABI) which shows the way we see the state of this nation’s defined benefit pensions. “We” means First Actuarial, I work for First Actuarial. We want to paint a picture of the pensions … Continue reading

Posted in Bankers, pensions | Tagged , , , , , , , | 9 Comments

PENSIONS TRANSPARENCY REACHES PARLIAMENT


Lux in tenebris   The roof leaks, the walls are crumbling but the House of Commons is still the seat of British Government. Andy Agethangelou has used the momentum he and his team have built up to set up a Transparency … Continue reading

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Brexit- good for people’s pensions. Pensions -worse for Brexit Britain.


Contrary to the received idea, Brexit and its aftershock, the Bank of England’s QE statement , has been good for the pension in people’s pocket. Ok, we don’t have pensions in our pocket- but if we’re simply valuing our pension … Continue reading

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

Customer intolerance; why it’s tough for banks to be relevant.


  A couple of days ago I wrote about Barclays moving my credit card from i24 to their new “infinite” card. I’ve since had a detailed letter explaining what’s changed. I’m moving from MasterCard to Visa My annual membership cost … Continue reading

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What rights do banking customers still have?


I received a letter out of the blue from Scott Miller, Head of Customer Services at Barclays. It’s a pro-forma and it included a new credit card, if it hadn’t, I’d have not read it. Not so great I thought, … Continue reading

Posted in Bankers, pensions | Tagged , , , , , , , , | 8 Comments