We live in a world today where we are inundated with information, a blessing and a curse. In fact, it was only three weeks ago at an excellent investment conference in the US, where I learned that 90% of the world’s data was created in the last two years, how incredibly staggering is that! I guess when you think it through, it stacks up. I probably receive around 400 emails a day, most of them can be “filed” in trash, but an important part of my job is to filter out the noise and discern what is actually valuable and what is not. It was during my efficient filing, that something quite obscure piqued my interest. It was embedded in a quarterly update we received from a US manager we currently invest with….Read more
Rumours abound once again that the Government are looking at a special deal for the British Steel Pension Scheme (“BSPS”) to try and save the 10,000 jobs at risk at Tata Steel. Whilst discussions continue in India, no firm proposals are yet in the public domain, with Tata continuing to evaluate offers. Our previous blog in early April covered the background to the BSPS and the uncertainty its members are faced with….Read more
This morning the Government pubished a public consultation setting out a range of radical options to potentially help the British Steel Pension Scheme. We will publish a comprehensive briefing note reviewing the proposals and their potential impact on DB schemes across the UK in the near future, but in the meantime I wanted to highlight some initial thoughts in this blog…..Read more
On 9 May 2016, the Pensions Regulator’s (TPR’s) revised defined contribution (DC) Code of Practice was laid before Parliament, where it will remain for 40 days before coming into force in July. At this point, TPR will publish final versions of its ‘how to’ guides which support the new Code, together with its revised compliance and enforcement policy.
Jumping on the admission of Andy Haldane, chief economist at the Bank of England, that he could not make the remotest sense of pensions, the Telegraph launched a campaign last week with 19 suggestions for reforming the pensions system….Read more