Tag Archives: Deficits

As Carillion goes bust, First Actuarial shows PPF can take the strain.

Posted on January 18, 2018 by henry tapper

Carillion’s dramatic and sudden insolvency is likely to push its 13 defined benefit (DB) schemes, and their 28,000 members, into the Pension Protection Fund (PPF). However, as reports emerge of a combined section 179 (s179) shortfall of as much as … Continue reading →

Posted in actuaries, First Actuarial, pensions | Tagged , , , | 7 Comments

What I’ll ask the Pensions Minister today (if I can find him).

Posted on October 3, 2017 by henry tapper

Calling Guy Opperman MP,  Minister for pensions and inclusion, “are you out there?” I’m on my way up to Manchester clutching an email from your office saying you want to meet me, I will be at (y)our conference for the … Continue reading →

Posted in #WASPI, pensions | Tagged , , , , , , , | 6 Comments

FAB index up despite fall in gilt yields!

Posted on March 20, 2017 by henry tapper

  In contrast to the PPF 7800 index and other commentators’ indices, First Actuarial’s Best estimate (FAB) Index improved in February to a surplus of £288bn across the 6,000 UK defined benefit schemes. This was despite a sharp fall in … Continue reading →

Posted in pensions | Tagged , , , , , | Leave a comment

The ABI goes FABI on claims!

Posted on March 20, 2017 by henry tapper

    Readers of this blog listening to the ABI’s Huw Evans on Wake up to Money, may have been spluttering into their tea and biscuits! The ABI are faced with a cut in the discount rate used to calculate compensation … Continue reading →

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

More FAKE NEWS on pension deficits #FABI

Posted on February 22, 2017 by henry tapper

The Government’s just published its green paper ‘Security and Sustainability in Defined Benefit Pension Schemes’. It’s already generated knee-jerk headlines claiming 11m employees could see their pensions cut. The green paper refers to “under-funded schemes” and “stressed employers”, but can’t … Continue reading →

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

The Alice in Wonderland world of pension deficits.

Posted on January 4, 2017 by henry tapper

FTSE grows, deficits up? The first business day of the month is pension horror month where JLT announce new angles on the disastrous state of our Defined Benefit schemes. Deficits actually fell last month but JLT still managed to report … Continue reading →

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

Shouldn’t Pension Schemes CREATE jobs? #CIPD

Posted on November 14, 2016 by henry tapper

News that ballooning pension deficits are hitting profits and leading to hiring freezes is both unwelcome and unacceptable. Pension schemes should be benefiting UK businesses, enabling them to retire those becoming less productive and hire the best new talent. But … Continue reading →

Posted in accountants, actuaries, advice gap, pensions | Tagged , , , , , , , , , , , | 6 Comments

Two months in and FABI makes its point

Posted on November 11, 2016 by henry tapper

While other indices see wild volatility in the deficit positions of the PPF7800, the FABI index is already showing the material advantage of a smoothed approach to valuations. To put it in behavioural terms, you don’t have to popping champagne … Continue reading →

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