Henry Tapper

From minnow to monster- will workplace GPPs become CDC? It’s five years since WTW produced this research and it’s only now that the Government is taking it seriously. This second advert for CDC is rather easier to understand and is from our …

What we are left with is a group of three plans Penfold , True Potential and Collegia who have three options - consolidate, convert to non-workplace or exempt from scale as CDC.

From minnow to monster- will workplace GPPs become CDC? It's five years since WTW produced this research and it's only now that the Government is taking it seriously. This second advert for CDC is rather easier to understand and is from our Pension Minister. If you run a workplace pension as a GPP , your future looks difficult. Perhaps the prospect offering 57% more income than through drawdown might get customers excited?

From minnow to monster- will workplace GPPs become CDC?

It's five years since WTW produced this research and it's only now that the Government is taking it seriously. This second advert for CDC is rather easier to understand and is from our Pension Minister. If you run a workplace pension as a GPP…

We’re not spending, we’re hoarding – that’s not investing- it’s neurotic! A couple of weeks ago , Claer Barrett wrote an article about the depression that is forcing money into short term savings plans (not into an investment into our and our country’s future). Thi…

we need to think much more about our family, our house and our work before saving money we might do better spending

We’re not spending, we’re hoarding – that’s not investing- it’s neurotic! A couple of weeks ago , Claer Barrett wrote an article about the depression that is forcing money into short term savings plans (not into an investment into our and our country's future). This weekend , the FT followed up with an article with macro confirmation that we aren't spending, we aren't investing - we're hoarding here in the UK.

We’re not spending, we’re hoarding – that’s not investing- it’s neurotic!

A couple of weeks ago , Claer Barrett wrote an article about the depression that is forcing money into short term savings plans (not into an investment into our and our country's future). This weekend , the FT followed up…

“Pensions UK” has reclaimed “pensions”. Will delegates be “2030 ready” by Thursday? Next week – 14th-16th October to be precise, we will be in Manchester for the above. “We means pension scheme members of Pensions UK (already PUK to some) , people selling to them and j…

Pensions is a trade that needs a body to represent it. Much as I teased the NAPF and PLSA, I recognise the body represented us. It has earned the title Pensions UK .

“Pensions UK” has reclaimed “pensions”. Will delegates be “2030 ready” by Thursday? Next week – 14th-16th October to be precise, we will be in Manchester for the above. “We means pension scheme members of Pensions UK (already PUK to some) , people selling to them and j…

Pensions is a trade that needs a body to represent it. Much as I teased the NAPF and PLSA, I recognise the body represented us.  It has earned the title @PensionsUK  .

“Pensions UK” has reclaimed “pensions”. Will delegates be “2030 ready” by Thursday? Next week - 14th-16th October to be precise, we will be in Manchester for the above. "We means pension scheme members of Pensions UK (PUK) , people selling to them and journalists. This year's conference aims to get us ready for pensions in five years time. We all know the challenge laid down to it by Government over the summer. I don't suppose that many Conferences have such a simple and clear aim, nor a greater responsibility to those who attend and those who don't.

“Pensions UK” has reclaimed “pensions”. Will delegates be “2030 ready” by Thursday?

Next week - 14th-16th October to be precise, we will be in Manchester for the above. "We means pension scheme members of Pensions UK (PUK) , people selling to them and journalists. This year's conference aims to…

What are IOW’s pension caulkeads up to? Pension fund merger warning over pooling decision delay Thanks Martin George for this Ministers could force Isle of Wight pension fund to merge with Hampshire pension fund after councillors rejecte…

The Ministry of Housing, Communities & Local Government confirmed the pension fund did not submit its decision in principle by the 30 September deadline, and it was engaging with pension fund officials about this.

How can housing wealth bridge the later life funding gap I have been speaking with my old friend Andy Young, an MBE for setting up the PPF who has worked with Pension Ministers ,  most especially with Steve Webb. He has no blog and should run one …

Retirement is not about one person but about all who live with , depend on and ultimately care for the pensioner. Retirement finance comes from a lot of sources. Andrew Young David Miles Anna Brain Equity Release Council Jeannie Drake

How can housing wealth bridge the later life funding gap I have been speaking with my old friend Andy Young, an MBE for setting up the PPF who has worked with Pension Ministers ,  most especially with Steve Webb. He has no blog and should run one …

Retirement is not about one person but about all who live with , depend on and ultimately care for the pensioner. Retirement finance comes from a lot of sources.

How can housing wealth bridge the later life funding gap I have been speaking with my old friend Andy Young, an MBE for setting up the PPF who has worked with Pension Ministers ,  most especially with Steve Webb. He has no blog and should run one himself but till he does, I will publish what he sends me. Th story of him sending me this report by Fairer Finance is his recent conclusion that house ownership is a means by which people who have not "savings" can liquidate money to meet the bills of later life.

How can housing wealth bridge the later life funding gap

I have been speaking with my old friend Andy Young, an MBE for setting up the PPF who has worked with Pension Ministers ,  most especially with Steve Webb. He has no blog and should run one himself but till he does, I will publish what he…

What are IOW’s pension caulkeads up to? Pension fund merger warning over pooling decision delay Thanks Martin George for this Ministers could force Isle of Wight pension fund to merge with Hampshire pension fund after councillors rejected a government deadline to say which pool it wants to join, councillors have been warned. Earlier this year, the government decided to effectively disband two of the eight Local Government Pension Scheme pools – Access and Brunel – that invest the assets of council pension funds.

What are IOW’s pension caulkeads up to?

Pension fund merger warning over pooling decision delay Thanks Martin George for this Ministers could force Isle of Wight pension fund to merge with Hampshire pension fund after councillors rejected a government deadline to say which pool it wants to join,…

We stop spending and save save save! Let’s make that work. The news is pretty flabbergasting – we aren’t spending, we must be spending , spending , spending Deciphering this puzzle is a priority for policymakers at the Bank of England. If consu…

Let’s hope this Labour Government can at least make saving – long term saving – something we get rewarded for. Right now we are saving and hating pensions we're saving into, that can’t be right.

We stop spending and save save save! Let’s make that work. The news is pretty flabbergasting - we aren't spending, we must be spending , spending , spending Deciphering this puzzle is a priority for policymakers at the Bank of England. If consumers do not start spending soon, the central bank will need to rethink its growth and inflation forecasts, with implications for the path of interest rates.  “We have persistently projected the saving ratio to fall, but we are yet to see this play out in a sustained way,” Catherine Mann, a BoE rate-setter, said last week, calling it a “large judgment call” that made the outlook for UK GDP unusually uncertain.

We stop spending and save save save! Let’s make that work.

The news is pretty flabbergasting - we aren't spending, we must be spending , spending , spending Deciphering this puzzle is a priority for policymakers at the Bank of England. If consumers do not start spending soon, the central bank will…

Why should we build a “disposable” pension system? This is an argument I am used to and it's not one that I am comfortable to leave alone. We built a health system, a teaching system and a police and fire brigade to last and we should do the same for retirement income. See what you think in this argument between me and Pension Oldie. PensionsOldie says: October 11, 2025 at 7.32…

Why should we build a “disposable” pension system?

This is an argument I am used to and it's not one that I am comfortable to leave alone. We built a health system, a teaching system and a police and fire brigade to last and we should do the same for retirement income. See what you think in this…

Instaviduals? How you get Pension VFM out of geo political conferences. Indeed. Sophie Baker, South Londoner and Crystal Palace fan (funny how there are suddenly so many of them right now) is on the VFM podcast. Sophie is a journalist for a mag I’ve never read but which …

#VFM Perhaps the answer is @guyopperman.bsky.social at a global conference.

Instaviduals? How you get Pension VFM out of geo political conferences. Indeed. Sophie Baker, South Londoner and Crystal Palace fan (funny how there are suddenly so many of them right now) is on the VFM podcast. Sophie is a journalist for a mag I've never read but which runs a Linked In group which I send stuff to. "PGGM moving their portfolio" is the big story for Sophie though I wonder if more than a small percentile of the listeners to the Podcast has ever heard of PGGM where LGIM and BlackRock (passive) to a more active approach (Michelangelo 2.0).

Instaviduals? How you get Pension VFM out of geo political conferences. Indeed.

Sophie Baker, South Londoner and Crystal Palace fan (funny how there are suddenly so many of them right now) is on the VFM podcast. Sophie is a journalist for a mag I've never read but which runs a Linked In group…

Confusion over “pre-97 pension increases ” and workplace pensions to come. I have received a message from Terry Monk which I understand is an update of the on-going saga about pre-97 pension increases. An update from the Pensions Action Group and the Pensions Bill regardi…

This has been going on a long time and it’s not just about naked pensioners on Brighton Beach; Terry Monk

Confusion over “pre-97 pension increases ” and workplace pensions to come. I have received a message from Terry Monk which I understand is an update of the on-going saga about pre-97 pension increases. An update from the Pensions Action Group and the Pensions Bill regarding pre 97 paid for inflation protection . The Minister said this (  see below ) but in spite of a detailed letter and follow up emails we have not been told  what is acceptable or why.

Confusion over “pre-97 pension increases ” and workplace pensions to come.

I have received a message from Terry Monk which I understand is an update of the on-going saga about pre-97 pension increases. An update from the Pensions Action Group and the Pensions Bill regarding pre 97 paid for…

“Fear of risk has has ruined the prospect of a real pension” – Pullinger Terry Pullinger and I are friends, frustrated by the failure of Government after Government to see policies over the line, content to make asset managers and insurers rich while millions of savers …

"Fear of risk has has ruined the prospect of a real pension" - Pullinger henrytapper.com/2025/10/11/f... I am not prepared to see CDC confined to discussions between actuaries in City Conferences. I want CDC to work for everyone and be known as “wage in retirement pension schemes”

“Fear of risk has has ruined the prospect of a real pension” – Pullinger Terry Pullinger and I are friends, frustrated by the failure of Government after Government to see policies over the line, content to make asset managers and insurers rich while millions of savers are left with pots and no pensions. Andy Haldane's article which you should be able to read here, says the same thing in economist's language. People hope that their pensions are managed, expect their money is managed sensibly (like new cars they should not pollute).

“Fear of risk has has ruined the prospect of a real pension” – Pullinger

Terry Pullinger and I are friends, frustrated by the failure of Government after Government to see policies over the line, content to make asset managers and insurers rich while millions of savers are left with pots and no…

Does CDC work like a DB or a DC pension plan? I don’t care! Under current proposed timelines, multi-employer CDC schemes are expected to secure regulatory approval in 2026, with a view to accepting contributions from 2027. So we ought to be starting to thin…

What do you want – uncertainty about how much more you’re getting or certainty you won’t get an awful lot! CDC isn’t a certain pension but it’s certainly better than what most of us get!

Does CDC work like a DB or a DC pension plan? I don’t care! Under current proposed timelines, multi-employer CDC schemes are expected to secure regulatory approval in 2026, with a view to accepting contributions from 2027. So we ought to be starting to think about what being in a CDC plan will feel like , if in one. What will it feel like for employer's using one to meet auto-enrolment requirements? What will it feel like to people running them?

Does CDC work like a DB or a DC pension plan? I don’t care!

Under current proposed timelines, multi-employer CDC schemes are expected to secure regulatory approval in 2026, with a view to accepting contributions from 2027. So we ought to be starting to think about what being in a CDC plan will…

“Data will be a Game Changer”; Richard Smith Data is a game changer – it’s changed my view of Lerwick in Shetland.  I’d never thought of it in the same “wave” as St Helier in Jersey. Richard’s coming to our…

Data is a game changer - it's changed my view of Lerwick in Shetland.  I'd never thought of it in the same "wave" as St Helier in Jersey.

“Data will be a Game Changer”; Richard Smith This is good - data is a game changer - on my view of Lerwick in Shetland I'd never thought of it in the same "wave" as St Helier in Jersey. Richard's coming to our coffee morning to repeat his triumphal sessions over the past five years. I'll now ask him about contribution demographics. You can join us on Tuesday at 10.30 - go on!

“Data will be a Game Changer”; Richard Smith

This is good - data is a game changer - on my view of Lerwick in Shetland I'd never thought of it in the same "wave" as St Helier in Jersey. Richard's coming to our coffee morning to repeat his triumphal sessions over the past five years. I'll now ask…

Just How Serious Are the Growing Pains in the UK’s Bond Market? Ian McKnight Ian’s little column: enjoy my blog on Pension Funds Online ; please do follow us for more cutting edge content at Cartwright Pension Trusts! Pension Funds Online pensionfundsonline.co.…

Three years ago, the Bank of England intervened in the treasury market when 30-year UK Gilt yields surged by over 1.1% in three days. Yet, little seems to have been learned. Ian McKnight

The consumer voice insists on being heard. I went to a Transparency Taskforce event at the office of Hausfeld, to hear the voice of the Transparency Task Force and to honour Chris Sier, who helped TTF be founded in 2015 but who will …

More is to come on this, but this message goes to Transparency Task Force, @Hausfeld and @ViolationUK . We are not deaf to the work you do and thank you for it.

Great stuff @ianbeestin.bsky.social

Right, you ‘orrible lot… Tony Watts’ notes arrive every morning and are refreshingly relevant! Here’s one from earlier the week, which I cherish. There’s a lot coming out of the insurers about how we feel…

Tony Watts’ notes arrive every morning and are refreshingly relevant! Here’s one from earlier the week, which I cherish.

Can India pay pension payments “cradle to grave?”. Can UK help and learn? Half of AgeWage is in the UK, the other half in India. We speak every morning and will do this Friday, we bring everyone together to talk about pensions from east and west. Too much of our time is …

Half of Agewage is in the UK, the other half in India. We speak every morning and will do this Friday, we bring everyone together to talk about pensions from east and west.