Category Archives: Pensions Regulator

Was DC the only choice for the Tata Steelworkers?


      Speaking on the radio yesterday, John Ralfe called the decision of Tata Staff to accept the loss of future accrual into a final salary scheme in exchange for a 10% contribution into a DC pension fund as … Continue reading

Posted in actuaries, advice gap, FinTech, Jersey, pensions, Pensions Regulator, Politics, pot | Tagged , , , , , , , , , | 1 Comment

Of nuclear deterrents, sledgehammers and nuts – (DWP Select on DB)


The 90 page report on the state of our defined benefit pension schemes is published this morning. From first to last it is the work of Frank Field, it begins with BHS and ends with BHS, the confrontation with Philip … Continue reading

Posted in defined ambition, DWP, pensions, Pensions Regulator, workplace pensions | Tagged , , , , , , , | Leave a comment

Why there is no “opt-out” for the self-employed.


  I get annoyed when I hear pension experts opine on including the self-employed in auto-enrolment (1). I don’t see much self-employment on their CVs, I certainly don’t see many of them being self-employed out of necessity. But most of … Continue reading

Posted in accountants, advice gap, auto-enrolment, dc pensions, pensions, Pensions Regulator, Politics | Tagged , , , , , , , | Leave a comment

A tragic tale of a split pension.


    This is the sad story of how someone, intent on running her finances independently of her “ex”, destroyed her personal financial security. It relates to a former member of my family and I am desperately sorry for her, … Continue reading

Posted in advice gap, annuity, pensions, Pensions Regulator | Tagged , , , , , , , | 13 Comments

The soft underbelly of master trusts


  Many master trusts are absolutely rotten – they are not fit for purpose. Lots of advisers are using them as a back door way of bringing in commission, dressed up as high governance charges. The words of Barnett Waddingham’s … Continue reading

Posted in accountants, advice gap, auto-enrolment, pensions, Pensions Regulator | Tagged , , , , , , , , , , , , , | 2 Comments

Who’s afraid of auto-enrolment?


Despite the dire warnings – not that many UK employers New research from workplace pensions provider NOW: Pensions reveals that UK small firms are relatively relaxed about auto enrolment and the introduction of the National Living Wage with concerns focussed … Continue reading

Posted in auto-enrolment, NEST, pensions, Pensions Regulator | Tagged , , , , , , , , , , | 2 Comments

Shutting the stable door?


  We probably know more about the solvency of our defined benefit pension schemes than we have ever done. They are subject to rigorous examination by Experian who stress test them for failure to calculate their levy to the Pension … Continue reading

Posted in pensions, Pensions Regulator, Retirement | Tagged , , , , , , , , , , | 3 Comments

Till we know the “money” – shut up about “value”.


  I had a number of meeting yesterday culminating in an afternoon spent with members of the Transparency Task Force (TTF), with the FCA and with certain interested observers. I can report the meeting happened and what was said but … Continue reading

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No value without trust- PPI on “value for money”


Yesterday , the Pensions Policy Institute  delivered its “Value for money in DC workplace pensions” paper. The report can be read or downloaded from this link The central thrust of which was that “value ” was undervalued and too much … Continue reading

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The Pensions Regulator gives IGCs a new row of teeth.


  It’s not enough- not nearly enough – but at last the Pensions Regulator’s beginning to take workplace pensions seriously enough to offer something close to a decent choice for employers staging auto-enrolment. Yesterday , Andrew Warwick-Thompson, head of policy … Continue reading

Posted in auto-enrolment, FSA, pension playpen, pensions, Pensions Regulator | Tagged , , , , , , , , | 2 Comments