Extending time horizons can ease short-term funding pressure, but it shifts risk toward younger members. Reform should make those intergenerational…
I've just come across this letter from Smithers, covering DB pensions in general and the USS in particular. https://smithers.co.uk/extending-the-liabilities-time-horizon-is-key-to-pensions-reform/
Great. A chance to nit-pick something from Steve Webb. The Married Woman’s Option finished in 1977, not 1978. SERPS was…
I was told by the Pensions Service, that if I divorced my husband before I retired, I would get a…
Tag Archives: Financial services
Getting a proper pension guidance service?
What’s happened to Pension Wise? After all the secrecy and the consultations and the big reveal – the sum impact on our nation’s financial awareness appears hard to measure, as in “hard to discern”. Looking at TPAS’ latest stats, the nation’s … Continue reading
Show me the money!
My magic money machine Last week I (twice) had the satisfying experience of lugging my piggy bank down to Metro Bank and entering the contents into the Magic Money Machine. My cash was exchanged for a chit (see below) which … Continue reading
Posted in auto-enrolment, Bankers, pensions
Tagged Business, Dogs Rule, Financial services, Magic Money Machine, Metro Bank, pension playpen, pensions, Retirement, Saving
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What do we mean by Independent Financial Education?
This is an article that my firm First Actuarial have been sending to their clients. It’s so clear and simple, I thought I’d share it. Of course we’ll be sending it to Andy Haldane at the Bank of England! What … Continue reading
Rebuilding the social capital of pensions.
I’ve been reading Andy Haldane’s recent speech and kick off with this one statement among many good insights. “A plausible objective of public policy..is not to maximise trust among consumers of financial services but to maximise trustworthiness among its … Continue reading
Posted in pensions
Tagged Andy Haldane, Bank of England, Banking, BOE, Financial services, pension playpen, pensions, social capital, social identity, social purpose, trust
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The Transparency Zeitgeist is upon us
I am a frugal man, the £3.50 I paid for this morning’s FT was grudgingly passed to my newsagent. But I wanted to capture the headline and read about Josephine’s reporting of a meeting with my friends Andy Agethangelou and … Continue reading
Restoring Andy, David and Tom’s Confidence in Pensions
“Pensions are impossible to understand and are harming Britons’ efforts to save the right amount of cash for later life” Andy Haldane the Bank of England’s chief economist admitted last night. Since I have made it my job, as Founder of … Continue reading
Pensions Bill – read all about it
This post is taken from the DWP’s briefing notes on what we can expect. Since publication, Ros Altmann, the Pensions Minister has confirmed to the FT (and by RT to Pension Plowman and Jo Cumbo) that the measures relating to … Continue reading
Posted in pensions
Tagged Business, Employment, Financial services, National Employment Savings Trust, pension, Pension Bill, pensions, Retirement
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Governance rides a horse called transparency!
My day today is dominated by meetings about governance. I’ll be meeting organisations who want to provide benchmarks for governance, an organisation charged with overseeing the pension pots of millions of us and a regulator who kicked off the shift … Continue reading
Posted in governance, pensions
Tagged Business, Employment, Financial services, governance, pension, pensions, Retirement, Transparency, trasnparency taskforce, TTF
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Secondary annuities- more questions than answers
I’ve been asked for my views on secondary annuities. I asked myself would I trade my annuity. Of course, I wouldn’t, I wouldn’t buy one. I wouldn’t sell my state pension, I wouldn’t sell my rights to my defined … Continue reading
Posted in annuity, dc pensions, de-risking, pensions
Tagged annuity, Buing, Business, Cash, Financial services, Paul Lewis, pension, pensions, Retirement, secondary annuity, selling
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Value for money from investment consultants
In this article I’m proposing that investment consultants are subject to the same degree of scrutiny as the other service suppliers to trustees. Investment consultants should be subject to a Value for Money assessment). This morning I will be hearing … Continue reading
When taxation is retroactive it will change behaviour. Be careful with envy focused legislation promote real solutions to British poor…