Tag Archives: first actuarial

University pensions! – Stay collective! Stay open!

Posted on May 18, 2018 by henry tapper

Another good day for pensions! Yesterday was a good day for the collective pension scheme in Britain. I had breakfast at Cicero’s offices in the Old Bailey (not the courts). I was able to hear our Pensions Regulator talk openly about … Continue reading →

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Alright LCP and First Actuarial – here’s my ESG challenge to you!

Posted on April 20, 2018 by henry tapper

I’d alert readers to an excellent thought piece by LCP consultant, Sam Cobley. You can read it here. Sam ponders why, while every trustee and IGC chair is now commenting on Responsible Investment and Environmental, Social and Governance issues. So few … Continue reading →

Posted in actuaries, First Actuarial, pensions | Tagged , , , , | 4 Comments

Bill Galvin , stop whingeing to the FT and come down here!

Posted on March 18, 2018 by henry tapper

Bill Galvin would be well-advised not to snipe at social media for peddling misconceptions about the University Superannuation Scheme. Dennis Leech, Professor of Economics at Warwick concludes a recent article with the question will this independent group be subject to … Continue reading →

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The herd mentality that leads us to DC

Posted on March 8, 2018 by henry tapper

Luke 8:32-33 A large herd of pigs was feeding there on the hillside. The demons begged Jesus to let them go into the pigs, and he gave them permission. When the demons came out of the man, they went into … Continue reading →

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First Actuarial on CDC (submission to W&P Select).

Posted on January 21, 2018 by henry tapper

First Actuarial is a partnership of consulting actuaries and administrators that offers the full range of pension services to both trustees and employers. Our clients’ pension schemes range in size from £0.5 million to nearly £2 billion in assets. However, … Continue reading →

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“No alternative methodology was proposed” – Mike Otsuka calls UUK

Posted on January 7, 2018 by henry tapper

Why it matters that this claim of UUK’s is false UUK’s Q&As on the USS valuation from mid-December end on a perplexingly obviously false note, which I highlight in bold: “UCU have raised a number of concerns regarding the USS valuation … Continue reading →

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FAB Index sends us all a happy Christmas!

Posted on December 19, 2017 by henry tapper

BAE adopts sensible funding approach as FAB Index hits all time high. BAE Systems has announced it is adopting an “asset-led” funding approach, enabling it to maintain its funding deficit at 2014 levels and continue to provide defined benefit (DB) … Continue reading →

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A pension settlement needs general agreement.

Posted on December 11, 2017 by henry tapper

I spent most of this cold dark weekend putting together a submission to the FCA on what we know is happening to millions of pounds of money that has been disinvested from the British Steel Pension Scheme and reinvested through … Continue reading →

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Is the USS really in crisis?

Posted on November 25, 2017 by henry tapper

Professor Dennis Leech is Emeritus Professor of Economics at Warwick University. This week has seen the University Employers threaten to withdraw sponsorship for future DB accrual, the University Union announce intended strike action and the DWP Select Committee ask fundamental questions about … Continue reading →

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First Actuarial warns on knee-jerk reactions to the interest rate rise

Posted on November 2, 2017 by henry tapper

With the Bank of England doubling interest rates, First Actuarial predicts a flurry of good and bad pension headlines, but warns of misguided optimism on funding and a rush for the door fuelled by pessimism about transfer values. Good news … Continue reading →

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