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Punter Southall Annual Pensions Conference 2016

The Punter Southall Conference will provide a topical update on the key issues affecting pension schemes and their corporate sponsors. It will give you practical and commercial ideas to address the latest pensions issues, regulations, legislation and proposals.

Our Keynote Speakers will be joined by experts from across the Punter Southall Group.

Register for this event

Agenda

08.30: Registration

09.00: Start

13.00: Close with lunch

Location

Piccadilly, London
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Interest rates wither in the Indian Summer

As sunshine continued to beam across (most of) Britain this September, the only corner in shadow is where interest rates or, what’s left of them, dwell.

Rate-setting meetings, certainly, at the Bank of England and, probably, at The Federal Reserve, are unlikely to offer a glimmer of upward movement.

As I write, they’ve held steady at Threadneedle Street at 0.25 per cent, awaiting any lurking post-Brexit economic shock (yet to emerge) and haven’t ruled out further cuts this year.

To read the full blog, click here.

Chris Parlour

Work until you drop? Depends how well-off you are

The Pensions Policy Institute (“PPI”) published a report assessing the distributional impact of State Pension Age rises.  It is hardly news that some members of society will be impacted far more significantly than others by the rises which have been legislated for, given the differences which exist in life expectancy by region and by wealth.  However, being an actuary, I did find some of the statistics quite interesting.

The biggest differences can be seen by grouping by socio-economic class, with the life expectancy at birth in England and Wales between 2007 and 2011 for “higher managerial and professional” men of 82.5 years compared to just 76.6 years for “routine” men – a difference of almost six years.

Click here to read Chris Parlour’s latest blog.

Market valuations: misery, part two?

“It is our view that both core bond and equity markets are expensive; investors need to think outside of the box as to how they will meet their clients’ aspirations. Realistically, the traditional blend of government bonds and equities is ill-equipped to survive the years ahead, based upon starting valuations.”

Tom Becket, Chief Investment Officer, PSigma Investment

For the full blog, click here.

Exposure to currency risk after the referendum vote

The biggest and most sustained financial impact of the Brexit vote has been within gilt markets (where yields have fallen to historic lows) and currency markets over the two months since the referendum.

Sterling is likely to remain volatile for the foreseeable future as economic data is released and announcements about Britain’s future trading relationships are made.

In the absence of any scheme-specific circumstances, trustees should be hedging their currency risk by 50 per cent.

Click here for the full briefing note.