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Some of our pensioners are unwell
I’ve not read anything so silly as this http://www.professionalpensions.com/professional-pensions/news/2105510/stv-slashes-liabilities-bespoke-mortality-exercise for a long time. If you can’t read...
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How much volatility can we take? Pension Play Pen Lunch Sept 5th 2011
James Smith- First Actuarial Ben Mulroney- mallowstreet Jenny Kreser – Silverman Sherliker Mark Benfold Railway Pension Scheme Malcolm Delahaye – Supertrust Jennny Yeo – Affiliate Managers Paull...
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Can’t beat the NAPF!
As trade bodies go, the NAPF is pretty good. It starts from a good place, it wants people to get good retirement outcomes. It operates with the support of all the sectors of the pensions industry and...
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Perverse incentives; Sexycash or prudent pension?
Image by erjkprunczyk via Flickr The problem we all face when we are asked to choose between cash or pension is very complicated. It is possible to put a cash price on a pound’s worth of pension but...
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Wrong is right…. Guest Blog by Steve Delo
The financial crisis has changed the financial landscape and had a dramatic impact on all investment decision making. Slap bang in the firing line are company pension schemes. And if you’re a trustee...
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Meaningless choice
“Choice good… no choice bad” – unless you’re a utility company offering a plethora of tariffs in which case – “too much choice… bad”. Choice – good for mums wanting childbirth options….bad for the new...
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To get better pensions we need to share risk
Yesterday, Steve Webb announced he was to review the level of protection that needed to be provided to private pensions in payment. His intention is to help the solvency of defined benefit schemes...
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A democratic way to improve DC investment.
Little noticed last week , Legal and General opened the door to shed light on the decision making around the DC default it operates not just for its master trust, but its contract based and legacy DC...
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What’s that coming over the hill…? NAPF CDC DEBATE #Fail
The NAPF CDC Debate The debate on how we organise our retirement incomes from our pension savings was not progressed at the NAPF’s CDC focussed pension connections meeting last night. A half filled...
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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...
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Re-energising trusteeship (for a DC world)
Energised! 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...
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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...
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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...
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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...
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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...
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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...
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The truth, the whole truth and nothing but the truth- (guest blog- Matthew...
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 love...
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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...
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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!...
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Cost disclosure now! No more workplace pension NDAs!
Following Julius Pursaill’s excellent piece on value for money yesterday, I’m following up with some practical thoughts. The blog yesterday triggered a meeting with an IGC chair who probed me on the...
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