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Category Archives: dc pensions
Seven ways to improve Defined Benefit funding
In March 2020, The Pensions Regulator (TPR) opened a consultation on its proposed revisions to the DB funding code. In framing its response, First Actuarial proposes seven ways to change DB funding for the better. What do we want the … Continue reading
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Posted in accountants, dc pensions, de-risking
Tagged #Pensiondebate, DB Funding Code, pension, TPR
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DC Governance – “for the saver not the sponsor”.
The simplest way of looking at the shift from DB to DC in the UK over the past 25 years as a risk transfer from collective (underwritten by a sponsor) to individual (with no underwriting – even where there is … Continue reading
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Posted in advice gap, age wage, Dashboard, dc pensions, pensions
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How can pensions be giving savers VFM but not be dashboard ready?
Outcomes for dough, portals for show! Over the weekend, I’ve been thinking about how I can judge the quality of service I receive from my pension provider. As a consumer there are a number of things I would like … Continue reading
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Posted in customer service, Dashboard, dc pensions, pensions
Tagged AgeWage, Dashboards, Data, pension dashboards, Value for Money, VFM
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Should the tax-payer subsidise the cost of vertically integrated advice?
The cost of pensions tax-relief is likely to be a burning issue in the months ahead. The tax-payer is supposed to incentivise good behavior. Pre-funding retirement income leads to self-sufficiency and independence on younger generations in later life. That’s … Continue reading
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Posted in advice gap, age wage, dc pensions, pensions
Tagged advice, cross-subsidy, financial advice, SJP, Vertical integration
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Lords say “no” to the “dumping” of open DB pension schemes!
This blog pays tribute to someone of whom I knew nothing but a couple of weeks ago but who has made an extraordinary contribution to UK pensions by means of what should be known as the Bowles Amendment. The Bowles … Continue reading
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Posted in Bankers, CDC, dc pensions, de-risking, DWP, pensions
Tagged CDC, DB, Liberal Democrat, pensions, Sharon Bowles
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DC challenges the Private Equity billionaires
Robin Powell (the evidenced based investor) makes a bold claim. Ludovic Phalippou is a hero. Who is Phalippou? Ludovic Phalippou is an economist who has written a paper detailing the workings of the Private Equity industry and how it … Continue reading
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Posted in auto-enrolment, dc pensions, pensions
Tagged dc, ft, Ludovic Phallipou, Phallipou, Private Equity
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Pensions need a bonfire of regulation – (Con Keating and Iain Clacher)
This essay is motivated both by the Pensions Regulator’s consultation on its proposed code of practice for scheme funding and by papers published in recent years by the Institute and Faculty of Actuaries, such as “Actuarial valuations to monitor defined … Continue reading
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Posted in dc pensions, de-risking, pensions
Tagged Con Keating, DB pensions, Iain Clacher, professional pensions
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“Your pension data could be taken down and used against you”
The last two weeks has seen Professional Pensions going data barmy with not one, not two but three stories extolling the use of personal data to manage pension scheme risks. The first is a gentle and sympathetic article by Michelle … Continue reading
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Posted in dc pensions, de-risking, digital, pensions
Tagged BA, digital, Fraser Smart, Karen Quinn, Michelle Cracknell, pensions, Quietroom
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All plans off for DB funding proposals
I’m sorry to have missed the FT’s DB funding debate, it sounds like a lively affair! Mercer, the professional services firm, last week estimated the aggregate accounting deficit for DB schemes for the UK’s 350 largest listed companies was £52bn … Continue reading
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Posted in actuaries, advice gap, Blogging, dc pensions, de-risking, defined ambition, DWP, pensions
Tagged DB, DB funding, DB pensins, DWP, ft, John Ralfe, SteveWebb, TPR
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Don’t take your pension for granted
Of all the complacencies I suffer from, the one I find easiest to fall back on is that when lock-down ends, the world will return to where it was in February. This pandemic is not a distraction It is … Continue reading
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Posted in age wage, CDC, dc pensions, de-risking, pensions
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