Tag Archives: de-risking

Time to put a stop to the pseudo-science of life-styling

For 25 years, “life-styling” has been the accepted wisdom for defined contribution pension schemes in the UK. Pension experts now use the phrase without thought to the confusion of a public for whom lifestyle means something altogether different from the … Continue reading

Posted in pensions | Tagged , , , | 1 Comment

Are John and Norma right – are we facing the end of mass-retirement?

@JosephineCumbo could you pls explain why “open” DB schemes are less risky than closed schemes, and should therefore be subject to weaker funding requirements? “Josephine Cumbo: Open and closed case @@corpadviser https://t.co/u3loRiZxB6 — John Ralfe (@JohnRalfe1) October 30, 2020 The … Continue reading

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

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 , , , , , , | Leave a comment

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 , , , , , , | 2 Comments

Con Keating asks “Does life-styling make sense?”

  In the course of my recent work on value for money metrics, I have come across several schemes which apply life styling to older ages and many have argued that these strategies merit a benchmark which differs from the … Continue reading

Posted in actuaries, advice gap, dc pensions, de-risking, pensions | Tagged , , , | 9 Comments

LEBC – the demise of “de-risking”?

Yesterday LEBC  resigned its permissions to offer regulated advice on the transfer of safeguarded rights within a pension scheme (DB transfers). It also decided to stop advising on Flexible Retirement Options such as Pension Increase Exchange and Enhanced Transfer Values.  … Continue reading

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

Do we have to wait for the car crash, before we mend the road? CP19/25

Around £12bn worth of DB pension pots could have been subjected to poor transfer advice, based on these FCA figures. This is over one year alone. pic.twitter.com/eUPWu8UoL0 — Josephine Cumbo (@JosephineCumbo) July 30, 2019 It is now too late to … Continue reading

Posted in advice gap, age wage, BSPS, dc pensions, de-risking, pensions | Tagged , , | 4 Comments

This week – we hope to be able to talk about the “benefit of pensions” again!

This is a blog about the economic utility of pension management. It’s written because the first thing that hit me this morning was this almost confessional comment from George Norval, Group Pensions Manager at Berensden. Is the DB Pensions Manager … Continue reading

Posted in advice gap, CDC, de-risking, pensions | Tagged , , , , , | Leave a comment

Don’t de-risk too early – says Aon!

I nearly fell off my sofa on Lady Lucy!! While all I’ve been hearing from Aon’s fiduciary unit is the importance of locking down the pension scheme through Liability Driven Investment – fully implemented by Aon, here is the American … Continue reading

Posted in actuaries, pensions | Tagged , , , , | 1 Comment

When we “de-risk” – where does the risk go?

When you do the washing up, you leave your plates clean, the dirt gets washed down the sink. The same when you change the oil in your car or when you go to the toilet. What happens is that all … Continue reading

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