Tag Archives: trustee

Over-consulting ; not a victimless crime!


I was “distressed” to read of a new way of extracting fees from the sponsors of DC pensions, the value for money review/assessment. http://tinyurl.com/ju4ppnp Ok – I wasn’t distressed – I was cross! Value for Money is not as complicated … 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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The truth, the whole truth and nothing but the truth- (guest blog- Matthew Masters)


68% of us think that we’re better than average drivers, which means that at least 18% of us are mistaken.  And does it come as a surprise that of that 68%, 61 out of every 100 are male?  While I … Continue reading

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Is you trustee/IGC getting you value for money? (guest blog from Ralph Frank)


  The concept of ‘value’ has been exercising Trustee Boards (“TBs”) and Independent Governance Committees (“IGCs”) for some time.  TBs are required to evaluate “the extent to which the charges and transaction costs represent good value for members”.  Similarly, IGCs … Continue reading

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When is a fiduciary independent?


It’s a question asked by Karen Wake on twitter @JosephineCumbo @henryhtapper @DominicLindley @greggmcclymont So … what is "independent"? We might be chasing a tornado here — Karen Wake (@pensionmonkey) October 29, 2015 I’m not into chasing tornadoes so I’ll try … Continue reading

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When can you call a trustee “independent”?


It is quite easy to be an independent trustee. You need no qualifications, you need no expertise , the capabilities you need are negative. you must not be a member of the scheme you cannot be connected with the sponsor you … Continue reading

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Advisers advise, fiduciaries govern.


I am going to New York next month to talk about risk sharing in the UK. I will be sharing my session with Simon Nelson of Eckler, a Canadian actuary and we’re comparing notes at the moment. I’d like to … Continue reading

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De-risking strategy found in pocket of comatose trustee


  The Pension Plowman rifling through the pockets of a trustee lying in the gutter following an all night pension celebration , has found too documents, the first a copy of Corporate Adviser the full text of which can be … Continue reading

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Re-energising trusteeship (for a DC world)


    My recent blog pointing out that DB trustees tend to make bad DC trustees has gone down like a lead balloon with certain DB trustees. I don’t think is surprising. The next question is whether we can find a … Continue reading

Posted in annuity, Trades Union Congress, trustee | Tagged , , , | 2 Comments

The Pension Industry cannot serve two masters


Pensions are at a crossroads. For 30 years they have been travelling in the direction of the financial services and we could continue that direction of travel. We could turn left and go Dutch or turn right and adopt the American … Continue reading

Posted in auto-enrolment, dc pensions, NEST, pensions, Retirement | Tagged , , , , , , , , , , , , | Leave a comment