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Tag Archives: workplace Pensions
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
Posted in advice gap, BSPS, pensions
Tagged BSPS, ft, FTadvisor, Greybull, Maria Espidhana, tata, workplace Pensions
6 Comments
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
Posted in advice gap, age wage, pensions
Tagged pension pots, pensions, Richard Chilton, workplace Pensions
1 Comment
“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
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
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
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
Posted in IGC, pensions
Tagged auto enrolment, FCA, IGC, pensions, TPR, workplace Pensions
1 Comment
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
Posted in advice gap, age wage, pensions
Tagged auto enrolment, Clearing, pensions, pot proliferation, pots, Prisone Exchange, small pots, workplace Pensions
2 Comments
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
Posted in auto-enrolment, BSPS, Dashboard, pensions
Tagged AE, auto enrolment, Day of reckoning, DWP, workplace Pensions
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Can a DC plan be “in deficit”?
Yesterday, I fired off a message to the Pensions Regulator to put a stop on Whitbread’s sale of Costa to Coke, till restitution is made of the money owing to the low earners auto-enrolled into its net pay workplace pension. I won’t … Continue reading
Posted in accountants, pensions
Tagged dc, DWP, net-pay, pensions, Ros Altmann, TPR, workplace Pensions
2 Comments
Should we be empowering consumers or regulating providers?
Well we’re on to question three – all the proposed eight blogs will be sent to WPC as our evidence – when I mean “our”- I mean mine – and the thoughts of anyone who cares to comment. So here’s this morning’s exam … Continue reading
Posted in pensions, WPC
Tagged auto enrolment, CDC, FCA, pensions, TPR, workplace Pensions, WPC
2 Comments