UK - The Pension Commission interim report on the industry - put back to avoid the political party conferences - will be published during the week beginning October 11.
Commission chairman Adair Turner said publishing during the conference season was “inappropriate” and risked embroiling the conclusions in party politics. But confirmation of the revised publication date has forced Turner to withdraw as keynote speaker at the Pension Management Institute’s autumn conference.
Turner told the PMI he did not feel he could make the speech at the conference on October 7 ahead of publication.
The keynote speech at the conference – Pensions: Short Term Problems, Longer Term Solutions – will now be given by the inaugural chairman of the Pension Protection Fund, Lawrence Churchill.
Churchill – the former Zurich Financial Services chief executive – sparked controversy last month by claiming it was not the government’s responsibility to bail out schemes that experienced financial difficulties.
The PMI said it was “delighted” to have secured Churchill for what will be one of his first speaking engagements since his appointment as PPF chairman.
Other speakers at the conference – which will be held at The Brewery, in the City – include Andrew Young from the Government Actuary’s Department, Tim Cox from law firm Linklaters and Andy Cox from consultant Hewitt Bacon & Woodrow.
A buyout tool which provides schemes with up-to-date pricing and comparisons between insurers has been launched by JLT Employee Benefits.
The DB white paper sets out plans to review the funding regime, with 'prudent' and 'appropriate' possibly redefined. But James Phillips asks if this could this signal a return to an MFR-like approach?
The trustees of GKN's pension schemes have agreed a package of mitigation measures that would improve funding to a "more prudent level" if Melrose's offer is accepted by shareholders next week.
While the new powers are welcome, most respondents doubt it will make a difference to the outcomes for members, Pensions Buzz respondents say.