Tag Archives: DWP

Self sufficiency – another idiocy! (Con Keating)


  The idea that DB pension schemes should be self-sufficient, funded to such a level that they are capable of paying all pensions when due from their own resources is now rather popular. It is also completely idiotic, as the … Continue reading

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The peril of pensions (a quiet word in payroll’s ear).


Anyone who manages payroll, whether in-house or as an outsourcer, will by now have discovered the perils of auto-enrolment. This article will not rehearse the process issues (you’ll be relieved to know). But with auto-enrolment come workplace pensions. Currently the majority … Continue reading

Posted in accountants, advice gap, auto-enrolment, pensions | Tagged , , , , , , , , , | 1 Comment

Pensions -a benefit – or a threat?


This is a record of a conversation had between me and my colleagues Hilary Salt, Rob Hammond and Derek Benstead, there were other parties to the conversation , I won’t name them, but they were interested and interesting. Essay question … Continue reading

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

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

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Likely market impact of the Pension Schemes Bill


  The Pension Schemes Bill  (the Bill) is expected to be enacted in 2017 and  focusses on protecting savers and maintaining confidence in pension savings. The pensions market has responded to the introduction of auto-enrolment  and has developed a new … Continue reading

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The demise of Pan-European-Pensions


This blog was prompted by reports that Britain is fast withdrawing QROPS status to many of our European partners. A Qualifying Recognised Overseas Pension Scheme, or QROPS, is an overseas pension scheme that meets certain requirements set by Her Majesty’s … Continue reading

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What next for the British Steel Pension Scheme?


There must be something in the water at the DWP. First NEST now the PPF make bids to become our national pension providers. I am not against state run pension funds, but I am against the creation of state oligarchies … Continue reading

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Half a million savers let down by those they trust!


I am (once again) grateful to Jo Cumbo of the FT for her excellent reporting. Here is her summary of the latest state of the nation report on the progress of IGCs and Trustee Chairs overseeing our workplace pensions. You … Continue reading

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A new pension deal for the self- employed


In April 2015, the Government announced it intended to abolish class 2 National Insurance Contributions and replace them with a new system for the payment of Class 4 NICS. On 5th December they published more detail. Broadly this will mean … Continue reading

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Why we can’t dissolve fund management like monasteries


  If you had to pay for advice – would you pay for judgement or luck? Con Keating makes an important point in response to my blog, in denial and in disgust it is required by statute to retain an … Continue reading

Posted in actuaries, pensions | Tagged , , , , , , | 15 Comments