Tag Archives: defined benefit

“Blindsided!”-investment consultants caught by FCA’s rabbit punch

Posted on November 19, 2016 by henry tapper

Nobody saw it coming. I went to a conference of investment consultants earlier in the month, the FCA’s Market Review was not on the agenda of any of the day’s sessions. But the FCA’s proposal to make a MARKET INVESTIGATION REFERENCE … Continue reading →

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The risk in “de risking”

Posted on November 13, 2016 by henry tapper

Defined benefit pensions are delicate mechanisms designed for the purpose of providing pensions for generations of employees. Decisions taken in the last twenty years first to close DB schemes to new entrants, then to future accrual to current members and … Continue reading →

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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 →

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How mean is my valley? Why have we given up on pension prosperity?

Posted on October 31, 2016 by henry tapper

  Britain is one of the great economic powerhouses of the world. We are a strong nation that should be most confident in ourselves and our capacity to manage our own future. In the past few days we have seen … Continue reading →

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Doesn’t pension freedom extend to Defined Benefits?

Posted on October 18, 2016 by henry tapper

The debate about the assumptions we use to decide the state of our defined benefit schemes is in full swing. On the one hand you have those, like John Ralfe who use an approach which ensures that there’s always enough … Continue reading →

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Doesn’t “integrated risk management” set the bar askew?

Posted on October 3, 2016 by henry tapper

The buzz phrase for those involved in DB pension management is “Integrated Risk Management” or IRM – if you want to sound familiar with these things. The phrase is a good one as it focuses trustee’s minds on what really … Continue reading →

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“We’ve never had it that good”- what Tata Steel could do to pensions.

Posted on April 3, 2016 by henry tapper

The world has woken up to the £486m deficit in the Tata (aka Corus, aka British Steel) Pension deficit and what John Ralfe estimates is a £2bn albatross around Tata’s neck (the predicted cost of walking away with the Government’s … Continue reading →

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How defined is your benefit?

Posted on December 14, 2015 by henry tapper

  Today the Pension Institute, those “left-leaning losers” who shaped the Labour manifesto before the last election, will publish an uncompromising paper setting out the state of our defined benefit pensions, especially those supported by private sector “promises to pay”. … Continue reading →

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If not CDC – what?

Posted on October 18, 2015 by henry tapper

CDC – flawed in conception Steve Webb told me that when he spoke with Andrew Young, the former Government Actuary for the DWP, Andrew advised him to “think big”. Steve did and he will be remembered not just for the … Continue reading →

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Making the most of the £20bn small employers spend on DB – Guest blog from Hilary Salt

Posted on September 20, 2015 by henry tapper

A simple shift in communications could ensure the £20bn employers spend on DB each year isn’t wasted Over the last decade we’ve seen the long march of defined benefit (DB) pension schemes from the sunny beaches of open schemes run by … Continue reading →

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