CDC Pensions - a complex solution that delivers simplicity for employees

February 15, 2019 Tom Murray

defined contribution NEST state pension CDC schemes defined benefit

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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Downward spiral continues for pensions

September 05, 2016 Tom Murray

Pensions defined contribution UK pensions DB defined benefit

Downward spiral continues for pensions This week’s news that Carclo, a major technical plastics manufacturer in Yorkshire, has warned that its final dividend to shareholders will be reduced or eliminated in order to shore up the company’s defined-benefit pension fund, starts to bring the reality of the crisis in pensions home to a wider audience.  The significant decrease in bond-values, the primary investment component of most defined benefit pension funds, since the EU referendum result means that the liabilities have grown significantly, and therefore the shareholders share of the profit must be sacrificed to plug the gap.
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Irish clergy lose faith in defined benefit scheme

May 15, 2013 Tom Murray

Pensions defined contribution EU Life and Pensions defined benefit scheme

The Church of Ireland at the recent General Synod in Armagh prioritised hope over faith. The solid belief that the retirement lifestyle of the clergy could be guaranteed by the Clergy Pension Fund (a defined benefit scheme) has been shattered by an actuarial report showing the level of its insolvency and the only way out appears to be to move to a defined contribution scheme and hope that the markets provide.
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Canada kicks public sector pension reform down the road

March 22, 2013 Tom Murray

Minister Flaherty Pensions defined contribution private sectory Canada

The 2013 budget of Minister Flaherty has flunked the issue of public sector pensions. He makes a clear commitment to making the system affordable in the future but then kicks the can down the road by announcing vague consultations that will take place at some unspecified time in ‘the coming months’.
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Is the Chancellor brave enough to tackle Public Sector pensions?

March 19, 2013 Tom Murray

ageing public sector pension Pensions UK defined contribution

[dropcap letter="T"]here can be little doubt that last year’s big announcement of the flat rate state pension was a major transforming moment for UK pensions. This is only the start of the changes that need to happen to truly bring the UK pensions system into a sustainable position, changes which I’ve touched on in previous blogs.
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