Pension news and articles written by actuaries for actuaries - read the latest research pieces, today's news and latest articles in the Pension's market.

State Pension Triple Lock and the effect of COVID19 measures

By Willis Towers Watson senior consultant, David Robbins

Boris Johnson began by saying “we’re going to meet all our manifesto commitments” but added “unless I specifically tell you otherwise”. He proceeded to list some promises that, he says, the Government will keep, but did not mention pension uprating. By answering (or not really answering) the question in this way, he avoided saying anything that will prove untrue if the Government does scrap the Triple Lock, but also avoided creating headlines about its abolition during a difficult week.

Fielding a similar question at the daily coronavirus press conference on 14 April, the Chancellor, Rishi Sunak, refused to be drawn into “writing future budgets here today”. The Department for Work and Pensions got the message loud and clear: answering a parliamentary question about the Triple Lock on 26 May, the pensions minister, Guy Opperman, said the Government was “committed to ensuring that older people are able to live with the dignity and respect that they deserve” but did not articulate any commitment to the uprating mechanism itself.

The manifesto may therefore have been overtaken by events, with decision-makers at least wanting to keep their options open.

“Unlockdown” could provide a big pension rise in 2022 under current uprating policy
Most obviously, those events...Read More

Pensions for brunch

Governance in Action

By Lydia Fearn, head of DC & financial well-being at Redington
 
How do we in the pensions industry help our members to not only save more for a better future for themselves, but gain trust in a system that they feel has failed them on epic levels?
 
Many of us are still raw from the global finance crisis which cast governance under the scrutiny of a despairing public. In 2009, Regulators began forensic analysis of existing procedures across industries. The then NAPF (now PLSA), following a period of analysis, described ‘a governance vacuum’ around defined contrib...Read More

Pensions Dashboard update and next steps for schemes

Lifestyle Actuary

Amy Sutherland and Raluca Stanescu interview Louise Pryor, who is a sustainability actuary and incoming President Elect of the Institute and Faculty of Actuaries (IFoA). We’ve asked Louise a few questions about her work, and were also keen to find ou...Read More

The Luddite

Sam Richardson looks into the up and coming and the outgoing of the technology and gadgetry world in 2014.

Travelling Actuary

This month's Travelling Actuary takes us to the iconic Boston to experience New England at it’s very best.

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