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Questions about the pensions system...?
How did pensions cause the biggest public sector strikes in 30 years?
What did Robert Maxwell Do to the mirror pension Funds?
What happened to BHS and BRitish Steel pensions?
How did Mr Barber strike a blow for gender equality?
Book details
An engaging guide to the pensions system
This book will help you know more about the UK pensions system, in a way which is intended to be (vaguely) interesting! It is suitable for anyone - whether you know nothing about pensions and want to learn more about the system, or are someone in the industry who is interested in some of the back-story ( including trustees, actuaries/consultants, pension managers, finance directors or overseas parents).
It starts with a brief history of how the system has developed over time, covering the different arrangements provided by the private and public sectors, as well as the State. It then looks into the system in more detail, explaining some of the complexities and why pensions so often make news headlines. The book uses real life examples and stories to bring the explanations to life - from Maxwell and the Mirror Pension Scandal, to Philip Green and BHS.
Chapters cover:
- A brief history of the rise of occupational pension schemes in the UK, the Maxwell scandal and subsequent legislative changes
- The decline in defined benefit provision, via benefit changes and industrial disputes
- The public sector pension arrangements and changes that have been made to these
- Money purchase (defined contribution) schemes
- The State Pension, including the WASPI campaign on State Pension Age
- How schemes are run (Trustees, advisers, actuaries etc)
- Pension scheme deficits / black holes
- The role of the Pensions Regulator and Pension Protection Fund (PPF), including a look at BHS
- Member engagement (or lack of)
- How the Rules of pension schemes can lead to different outcomes - such as whether RPI or CPI inflation applies
- Pension fund investment, including hedging and environmental, social and governance (ESG) considerations
- Pensions taxation and how this caused a problem in the NHS
- Some of the problems faced by schemes - from gender equalisation, to the British Steel pension transfer scandal
- What the future may have in store - Pension Dashboards, Collective Defined Contribution (CDC), consolidation and more
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