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Category Archives: de-risking
Who pays for us doing nothing? Pension schemes and the poor!
Crikey, that’s some chart. But, what does it mean for future of credit etc? 1. Those who are attractive to lend to don’t need or want credit 2. Those who need credit most are not attractive to lend to. This … Continue reading
Posted in advice gap, age wage, de-risking
Tagged credit, credit cards, de-risking, financial inclusion, Furlough, poor, TPR
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Which comes first – the dashboard or the data?
I’m doing a call this morning with some pension strategy people , some from Fintech and some representing “old tech”. It’s a timely discussion as the Scottish National Party limbers up to put a spoke in the wheels of an … Continue reading
Posted in advice gap, Dashboard, dc pensions, de-risking, Technology
Tagged auto enrolment, Business, chicken, Dashboard, dc pensions, egg, open pensions, Pensions
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DB pensions are in a hole, let’s swap the DWP’s spade for a ladder
Bowles my liege… It’s a great shame to read Guy Opperman excising Sharon Bowles amendment to the Pensions Act. The Bowles amendment would give open pension schemes the capacity to be funded as ongoing concerns rather than being … Continue reading
Posted in dc pensions, de-risking, DWP
Tagged Con Keating, Guy Opperman, LCP, Pension Schemes Bill, Pensions, RailPen, Sharon Bowles
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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
Posted in accountants, dc pensions, de-risking
Tagged #Pensiondebate, DB Funding Code, pension, TPR
2 Comments
Have DB pensions dodged the Beeching bullet?
When the Pensions Regulator launched its DB funding consultation earlier in the year, I thought it a “slam dunk”. Back then it was already clear the world was in the grip of a pandemic and the paper presaged what was … Continue reading
Posted in de-risking, First Actuarial, pensions
Tagged David Fairs, DB fundin gcode, de-risking, DR Beeching, Funding Code, The Pensions Regulator, TPR
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A practical illustration of Contractual Accrual Rates – Clacher and Keating
In this article Con Keating and Iain Clacher explain an alternative to the current way we require DB schemes to be funded. It challenges received thinking and offers a way forward to regulators struggling to find an acceptable funding … Continue reading
Posted in de-risking, pensions
Tagged Accrual, Car, Con Keating, Conractual accrual rate, defined benefit, Iain Clacher, liability, pensions
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Death by discount rates
Q: When is a million dollars not a million dollars? A: When it is not yet a million dollars. The pensions business is all about the long term. Fund managers like me are responsible for ensuring we have sufficient funds … Continue reading
An alternative to the dystopia of “pension de-risking”
One interesting thing about this episode is that we have seen the Pension Regulator’s preferred view ahead of the final legislation itself. Their usual defense of ”It’s the law that Parliament decided, and we are only implementing … Continue reading
Posted in actuaries, advice gap, de-risking, pensions, Retirement
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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
Posted in Bankers, CDC, dc pensions, de-risking, DWP, pensions
Tagged CDC, DB, Liberal Democrat, pensions, Sharon Bowles
3 Comments
A different approach to pension scheme solvency and funding.
Solvency and Funding This is the second of our blogs answering questions which arose from our original essay written in response to the proposed DB Funding Code. It covers issues of solvency and funding. Solvency estimation involves the comparison of … Continue reading
Posted in advice gap, de-risking, economics, pensions, Retirement
Tagged Bond, Clacher, Equitability, Keating, Mark to Market, pensions, solvency prudence
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