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.

New research questions CFO's on risk to their DB scheme

Key points:
• A third of CFOs** recognise their Defined Benefit (DB) schemes are now paying out more in pension payments than received in contributions
• Research* shows 50% of FTSE350 DB schemes are now in this situation
• Awareness of the risks this poses is higher among CFOs than trustees – 1 in 5 CFOs recognise that a forced sale of assets to meet pension payments is the biggest risk to their DB scheme compared to only 4% of trustees
• In 2015 £20bn more was paid out in pensions than received in contributions across UK DB schemes
• This will increase to £100bn by 2030

Earlier this month the Pension Regulator (tPR) underlined the importance of DB schemes understanding and managing cashflow risk for the first time.
 
Commenting, Jon Hatchett, Partner and Head of Corporate Consulting at Hymans Robertson, said: “According to our analysis, 50% of FTSE350 schemes are already, or soon will be, in a situation where pension payments exceed the contributions coming into the scheme – in other words ‘cashflow negative’. The problem is only going to get worse as schemes become increasingly mature.
 
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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

Will FAMR improve access to financial advice?

By Fiona Tait, Pensions Specialist at Royal London
The stated objectives of FAMR are to make advice more “affordable” and “accessible” which is more likely to lead to new and complementary services, many of which may be offered by new entrants to the current market.
 
This provides both an opportunity and a concern. The opportunity lies in the potential for advice firms to expand the range of advice services currently offered; the concern is that rather than attracting more people to take advice the new entrants might divert existing clients towards options which may deliver less...Read More

Grumpy Old Pension Men: 26 April 2013

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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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