Category Archives: defined aspiration

Whose risk is it anyway?

Posted on November 17, 2012 by henry tapper

The Government wants us to think about pension risk sharing… To consider how much responsibility we can take for our own financial welfare when we’re really old. To consider what our employers can do to help And consider (which they talk of quietly)  … Continue reading →

Posted in actuaries, auto-enrolment, dc pensions, de-risking, defined aspiration, economics, pensions, Personal Accounts, Retirement | 5 Comments

Diversification and speculation are different.

Posted on November 10, 2012 by henry tapper

I have mentioned TOBAM on this blog before, but as @firstactuarial had the good sense to invite its CEO Yves Choueifaty  to their conference yesterday and he and his assistant Lauren were kind enough to fly from Paris to Manchester and take a train … Continue reading →

Posted in actuaries, de-risking, defined aspiration, First Actuarial, mallowstreet | Tagged , , , , , , , | 6 Comments

Is there a future for defined benefit pensions?

Posted on November 2, 2012 by henry tapper

The TUC has published a working paper written by my colleague Hilary Salt entitled “the future of defined benefit pensions provision” which is a very good read. You can reach it here. The wags among you may consider that you could … Continue reading →

Posted in dc pensions, de-risking, defined aspiration, Fiduciary Management, Financial Education, First Actuarial, NEST, pensions, Public sector pensions, Retirement, Trades Union Congress | Tagged , , , , , , , | 8 Comments

More cobblers from investment experts on DC pensions

Posted on October 31, 2012 by henry tapper

I am afraid I have to report yet more moronic thinking from the investment community showing their  disconnect with the ways and means of everyday folk. Example one is from Lyxor, who used to be called Societe Generale until they screwed … Continue reading →

Posted in auto-enrolment, Bankers, club pension, Consolation, dc pensions, defined aspiration, happiness, Liability Driven Investment, mallowstreet, NEST, pension playpen, pensions, Personal Accounts, Public sector pensions, with-profits | Tagged , , , , , , , | 8 Comments

Why we need to say “NO” to pension guarantees!

Posted on October 25, 2012 by henry tapper

On Monday the Institute and Faculty of Actuaries delivered a paper stating that it would be able to deliver a system of lock-in guarantees at a price of less than 1% pa of the fund that could be used by … Continue reading →

Posted in actuaries, annuity, auto-enrolment, Bankers, club pension, corporate governance, customer service, David Pitt-Watson, dc pensions, defined aspiration, EU Solvency II, FSA, happiness, Liability Driven Investment, NEST, pension playpen, pensions, Personal Accounts, Retirement | Tagged , , , , , , , | 15 Comments

What Steve Webb must do now.

Posted on October 17, 2012 by henry tapper

Well Mr Webb, you said it; I refer to your excellent talk at the IOD (16/10/12) First you said that you would legislate for “pot follows member” in 2014/15 .Then when asked what happens if a member transfers to a bad qualifying scheme, you … Continue reading →

Posted in annuity, CDC, dc pensions, defined aspiration, Financial Education, Henry Tapper blog, Management, Payroll, pensions, Retirement, Treasury | Tagged , , , , , , , , | 20 Comments

The toxic transfer; be wary when aggregating pensions!

Posted on October 16, 2012 by henry tapper

The DWP has published new statistics that support their contention that there is more economic value in the “pot follows member” model than the “aggregate to Supertrust” model. The NAPF have of course countered and have calculated that under the aggregator … Continue reading →

Posted in annuity, auto-enrolment, dc pensions, defined aspiration, pensions | Tagged , , , , , , , | 14 Comments

Tesco v Morrisons – a pension-enrolment showdown

Posted on October 11, 2012 by henry tapper

The Government officials charged with monitoring the success of auto-enrolment will no doubt be watching with interest the reported numbers enrolling into the Morrison’s and Tesco’s pension arrangements. Both organisations have opted to provide their “eligible jobholders” with defined benefit pensions; the … Continue reading →

Posted in auto-enrolment, customer service, de-risking, defined aspiration, Financial Education, Management, Payroll, pension playpen, Popcorn Pensions | Tagged , , , , , , , | 5 Comments

Why I support Labour’s attack on pension charges

Posted on September 30, 2012 by henry tapper

The reactions I’ve read to Ed Milliband‘s “all-out attack on pension charges” have been universally negative. They  range from Robert Burgon’s “open letter to Ed Milliband” condemning the lumping of good and bad together to the broadside from Otto Thorenson of the ABI (linked). All … Continue reading →

Posted in annuity, auto-enrolment, Bankers, David Pitt-Watson, dc pensions, defined aspiration, leadership, NEST, pensions, Personal Accounts, Retail Distribution Review, Retirement | 7 Comments

Abusing the voice of the people – a call for better pensions

Posted on September 29, 2012 by henry tapper

Evangelists of social media cite the wisdom of the crowd. But wisdom and gullibility are two sides of the same coin and  those who marvel at the capacity of groups to congregate around their chosen solutions, demonize their herd mentality when the crowd looks elsewhere. “Vox … Continue reading →

Posted in annuity, auto-enrolment, Change, David Pitt-Watson, dc pensions, defined aspiration, Henry Tapper blog, leadership, NEST, pension playpen, pensions, Personal Accounts | Tagged , , , , , , , | 5 Comments