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Tag Archives: workplace Pensions
What would BREXIT mean to workplace pensions?
Europe has a great deal of influence on UK pensions; the influence includes fund reporting, funding requirements, reserving against risk and even competition between service providers. This can have very strange results. The reason that NEST has such a … Continue reading
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Posted in pensions
Tagged Brexit, Gina Miller, pensions, Ros Altmann, workplace, workplace Pensions
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Do we have to wait for the car crash, before we mend the road? CP19/25
Around £12bn worth of DB pension pots could have been subjected to poor transfer advice, based on these FCA figures. This is over one year alone. pic.twitter.com/eUPWu8UoL0 — Josephine Cumbo (@JosephineCumbo) July 30, 2019 It is now too late to … Continue reading
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Posted in advice gap, age wage, BSPS, dc pensions, de-risking, pensions
Tagged de-risking, workplace Pensions, WPS
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British Steel – workplace pensions go missing
Maria Espadinha’s excellent article in the FT’s Advisor clarifies to financial advisers that were Greybull to go into administration, there would be no impact on the new BSPS. It’s a timely reminder as there will undoubtedly be increased vulnerability amongst traumatised … Continue reading
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Posted in advice gap, BSPS, pensions
Tagged BSPS, ft, FTadvisor, Greybull, Maria Espidhana, tata, workplace Pensions
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Our pensions need you!
I got some fierce feedback on yesterday’s blog where I moaned at the lack of progress in helping people convert DC pension pots to a wage for life/salary in retirement/agewage. Here’s Richard Chilton There is an implicit assumption in … Continue reading
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Posted in advice gap, age wage, pensions
Tagged pension pots, pensions, Richard Chilton, workplace Pensions
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“In an advised world – do workplace pensions need trustees”.
The quote is taken from a recent interview of Steve Webb of Royal London. It is a critical question which deserves an answer. The Workplace Pension Governance landscape (is changing) Something very odd is happening in DC Governance, something that … Continue reading
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Posted in First Actuarial, governance, pensions
Tagged governance, pensions, Royal London, workplace, workplace Pensions
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Virgin Money’s stakeholder is in special measures – put the IGC in charge.
Sid Vicious didn’t last long at Virgin when the Sex Pistols flirted with the record label. His relationship was as stormy as the Virgin Money’s IGC is with Virgin Money. Things are vicious once again , even if the Pistols … Continue reading
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Posted in IGC, pensions
Tagged IGC, pensions, Sex Pistols, Sid Vicious, Virgin Money, workplace Pensions
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IGC reports 2019; what should we be looking for?
For those who don’t follow this blog, I’ve been reviewing IGC reports since 2015/16 and intend to do so again this year. There is very little accountability on the IGCs. Though IGCs were set up to put right … Continue reading
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How do we use our IGCs?
My key words in the title are “we” and “our”. The Independent Governance Committee’s set up as a result of the failings in contact-based workplace pensions identified by the OFT, are for us – the consumer. They were not set … Continue reading
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Posted in IGC, pensions
Tagged auto enrolment, FCA, IGC, pensions, TPR, workplace Pensions
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Death by 10 million pots – how to solve the small pot crisis
There are 10 million new savers into workplace pensions. If every saver changed jobs 10 time, that would mean 100 million new pension pots- unless some means of rationalising pot proliferation can be found. The DWP estimate that by … Continue reading
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Posted in advice gap, age wage, pensions
Tagged auto enrolment, Clearing, pensions, pot proliferation, pots, Prisone Exchange, small pots, workplace Pensions
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AE – a day of reckoning to come?
More of us are saving, but we aren’t saving any more. The democratisation of pension saving – arising from auto-enrolment is a great thing – everyone can dare to dream of stopping work under their own power. But there is … Continue reading
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Posted in auto-enrolment, BSPS, Dashboard, pensions
Tagged AE, auto enrolment, Day of reckoning, DWP, workplace Pensions
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