CDC Pensions - a complex solution that delivers simplicity for employees

February 15, 2019 Tom Murray

defined benefit defined contribution state pension CDC CDC schemes

CDC Pensions - a complex solution that delivers simplicity for employees   complexity is the bugbear of getting people to save for their retirement.  The need to save is easily explained, but the simplistic solutions of the past, at least to the retiree, of defined benefit pensions and state pensions are either no longer viable (DB schemes) or are under huge pressure from changing demographics (state pensions).   The new approaches being undertaken to resolve the level of under saving in the retirement market are a lot more demanding of financial expertise.
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Actuarial Post: Alexa…Should I do a fund switch?

February 07, 2019 Tom Murray

Actuarial Post robotics Alexa smart technology financial review

Alexa…Should I do a fund switch? This article was originally commissioned for Inner Workings, a monthly column written by Tom Murray, in the  February 2019 edition of the Actuarial Post.   Among the biggest sellers this year for Christmas gifts were voice-controlled assistants that allow people to control various operations in their houses from the comfort of their own sofas.  Alexa from Amazon is the most famous but other tech companies, such as Apple, Google have similar devices now, which respond directly to the owner’s voice and carry out basic tasks such as playing music, timing dishes being cooked, answering general knowledge queries and providing news and weather information.   
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UK’s new guidance body needs to focus on technology

January 24, 2019 Tom Murray

Single Financial Guidance Body SFGB guidance technology financial education

UK’s new guidance body needs to focus on technology The arrival of the Single Financial Guidance Body is a welcome streamlining of the UK Government’s approach to the provision of financial guidance to the general population.  Merging the three existing bodies, the Money Advice Service, the Pensions Advisory Service and Pension Wise, into a single organisation brings clarity to the services provided by the government.    Although it has yet to be given its official name – the SFGB being an unwieldy working title – the fact that it doesn’t contain the word advice is a good sign. It shows that the body is aware that the use of the word ‘Advice’ in two of the bodies now making up the service was dangerous and could easily confuse the unwary into thinking they were receiving independent advice.  This would be a good indication that the final name chosen will avoid that trap. 
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Actuarial Post: Betting your pension

January 15, 2019 Tom Murray

Actuarial Post pension freedom pension funds annuities

Betting your pension This article was originally commissioned for Inner Workings, a monthly column written by Tom Murray, in the  December 2018 edition of the Actuarial Post.   The move by the government to reduce the shocking social side effects of fixed-odds betting terminals, mainly based in bookmakers’ shops, was welcomed by many in the UK as a good start in dealing with the issues that can arise from addiction to these machines.  Under the new law due to come into effect in 2019, the maximum stake will be reduced to £2, thereby requiring 50 losing spins to lose what could have been lost before on a single spin.
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EU puts a PEPP in the step of digital delivery of pensions

January 08, 2019 Tom Murray

PEPP EU European Union Pan-European Pension Product Life and Pensions

EU puts a PEPP in the step of digital delivery of pensions   The clock is ticking down towards the European Parliament elections in May.  This means that the deadline for the adoption of the Pan-European Pension Product framework is looming, as it is intended that this should be completed before the end of the current parliament.   Indeed, this is probably a necessity, as a new Parliament will inevitably mean a delay whilst new committees are setup and new priorities for the parliament are decided.  Thus, if it doesn’t get adopted prior to the breakup of this parliament, then it is likely to be at best significantly delayed, at worst deprioritised and pushed to the back of the list.
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Actuarial Post: “And, finally… robot-pets”

December 06, 2018 Tom Murray

retirement planning Artificial intelligence AI robots robo-pets

ACTUARIAL POST: “And, finally… robot-pets” This article was originally commissioned for Inner Workings, a monthly column written by Tom Murray, in the  November 2018 edition of the Actuarial Post.   The use of robots in Japanese care homes has featured a lot lately in the last segment of the news – the light-hearted piece that is scheduled in order to finish the news broadcast on a pleasanter note, following the bad news items that have gone before. These segments generally focus on the ability of automated robots to interact with elderly people and perform simple tasks such as fetching a glass of water or switching off a light. The topic is dealt with as an amusing item to amaze and entertain people. But beneath the trivial entertainment value of these segments, lies a serious question; is this is a feasible solution for the UK, given the huge looming issue of care provision for the country?
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IFoA Life Conference 2018 Prize Draw Winner

December 04, 2018 Sharon Cronin

IFoA Actuaries Life Conference Competition Winners

IFoA Life Conference 2018 Prize Draw Winner   Thank you for all those who entered our "fishbowl" competition at the IFoA Life Conference at the ACC in Liverpool last month. We are now delighted to announce the winner of the prize draw!
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Majesco Acquires Exaxe, EMEA Cloud Software Leader for Life, Pensions and Wealth Management

November 27, 2018 Sharon Cronin

Majesco acquisition cloud based software Pensions life insurance

Majesco Acquires Exaxe, EMEA Cloud Software Leader for Life, Pensions and Wealth Management News Release Morristown, NJ – November 27, 2018 – Majesco (NYSE AMERICAN: MJCO), a global leader of cloud insurance technology, announced today the acquisition of Exaxe, an EMEA based cloud software leader in  the life, pensions and wealth management segment.  Headquartered in Dublin, Ireland Exaxe serves a growing list of top European insurers. This acquisition will strengthen and expand Majesco’s software offerings in EMEA for the individual life, pensions and wealth management market while complementing Majesco’s software and Group focused customer base in the UK.
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Exaxe wins Pensions Technology Provider of the Year Award for third time

November 23, 2018 Sharon Cronin

irish pensions awards pensions technology provider of the year Pensions technology pension award Awards

Exaxe wins Pensions Technology Provider of the Year Award for third time NEWS RELEASE Dublin, 23rd November 2018 - Exaxe, the leading SaaS provider to the life and pensions industry, has won the Pensions Technology Provider of the Year award at the Irish Pensions Awards for the third time in the last four years. Exaxe won the Irish Pensions Award due to its ability to continuously innovate its offerings and grow its Irish and International client base.
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IFoA Life Conference 2018

November 20, 2018 Sharon Cronin

Life and Pensions conference Competition Sponsorship Exhibition stand

IFoA Life Conference 2018 21st-23rd November 2018, ACC Liverpool Exaxe is pleased to be supporting this year's IFoA Life Conference 2018 on 21st - 23rd November in the ACC, Liverpool.
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