Tag Archives: jo cumbo

August 1st – CDC day!

The 1st August is the day applications open for a new type of UK pension – what pension people know as CDC (though in regulation it is collective money purchase). It’s been a long time in the making, but today … Continue reading

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Watch your carbon footprint – Aussie!

  The UK’s Financial Conduct Authority last month said it saw a “clear rationale” for regulatory oversight of certain ESG data and rating providers. “We stress that market participants and consumers must be able to trust green and other ESG-labelled … Continue reading

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Pensions Minister resigns

I resign with great regret, given there are serious ongoing issues that need addressing ranging from cost of living support, to legislation, & parliamentary debates. It should not take the resignation of 50 colleagues, but sadly the PM has left … Continue reading

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Cumbo calls into question pension transparency.

Case study – the pertinent question on DB funding. For this story, I spoke to an 86yr-old who worries everyday about how his wife, 9 yrs younger, will cope financially if he dies before her. He receives NO inflation rises … Continue reading

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Financial education? It needs more conviction than most of us can muster!

People in the pensions industry are fond of using the phrase “financial education” as if they know the answer and those who aren’t doing what they want to do are financially illiterate.  This is hugely arrogant and largely wrong. People … Continue reading

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Picking an IFA who’ll stay the course.

  My friend John Quinlivan is fond of asking me “capital or covenant?” He means me to answer whether my business case is  based on the weight of money I can call on , or my trust that I am … Continue reading

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Ageism in the UK

Lucy Kellaway has written a good article in the FT about ageism. Frances Coppola seems to have had a light bulb moment when reading it. Great, great article. We all need to re-examine our attitudes towards older people. That includes … Continue reading

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Does Britain need an Aussie style “Retirement Income Covenant”?

  The Australian Treasury has recently consulted with its citizens on how to oblige Trustees of its huge Super funds to provide them with retirement income. There are parallels in the UK. Over the autumn and winter, the DWP will … Continue reading

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The FT’s Martin Wolf on meaningful reform to pensions

Two things happened on Sunday that made a difference to my thinking on the pensions. the first was spending a day on my boat with Andrew Young and extended family. Andrew more or less designed the PPF and as deputy … Continue reading

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The FT moves the needle on CDC

As I predicted, yesterday turned out to be a day of pension debate and what started as an editorial in the FT , was continued in an excellent seminar where Claer Barrett , Jo Cumbo and Sebastian Payne explored the … Continue reading

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