Milking and Dumping – new paper by the Pensions Institute

31 August 2016 The Pensions Institute was set up as part of the Cass Business School as the first and, as yet, only UK academic research centre to focus exclusively on pensions matters. It’s contributors have published a series of academic research papers, combined with Practitioner Reports – the latter perhaps more accessible to the non-academic. The latest report, authored by Keith Wallace 1 is titled “Milking and Dumping: The Devices Businesses use to Exploit Surpluses and Shed Deficits in Their Pension Schemes” The first part of the paper provides a historical perspective on the rise in significance of defined…

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21st Century Trusteeship and Governance – Pensions Regulator discussion paper

24 August 2016 The Pensions Regulator has issued a discussion paper titled “21st Century Trusteeship and Governance” which continues engagement with the pensions industry in considering how best to support trustees in fulfilling their responsibilities and improving beneficiary outcomes. The paper highlights key findings and challenges from the Regulator’s research into the work of trustees, and poses thirteen key questions to shape future policy decisions. The questions are wide ranging, covering: the role of professional trustee, the role of the chair, the challenge for new trustees and trustee knowledge and understanding, minimum competence and continuous personal development, conflicts of interest,…

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DB Pensions – End-July 2016 PPF 7800 deficit

22 August 2016 The Pension Protection Fund produces a monthly index update (this article has data taken as at end-July 2016) of the estimated funding position of the defined benefit schemes which would be potentially eligible for entry into the Fund. It’s been a while since I last reviewed this data (my last – December 2014 – update is available here: Where did the deficit come from? – a study in scarlet (ink)) and it’s interesting to see how things have changed since then. The aggregate PPF 7800 funding ratio has declined from 82.3% at the end of 2014 to…

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Seasons Greetings from Veasey Associates

12 December 2015 2015 marked yet another busy year for the pensions industry. We still await the first move upwards in UK interest rates and the effect of an economic slowdown in China – though many developed countries would give much to share China’s current slower rate of growth! This time last year, I said that the macro-economic crystal ball had clouded over; it remains gloomy and headlights are needed. Investment is still tricky with many growth assets classes showing rather anaemic performance. The pensions freedoms April 2015 deadline came and went and many providers are still formulating what they…

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