PTL Blog

"You're Fired"

Posted by Richard Butcher on Apr 4, 2018 10:35:43 AM

First published in Pension Funds Online, 29 March 2018

Alan Sugar has it easy. 

He takes on a dozen, keen, unnaturally good looking, usually young and ambitious individuals, he sets them challenges and he watches them perform. Then, one by one, he fires them. The last one standing becomes his apprentice. It’s a simple, low cost, low risk process.

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Topics: investment management, db funding, asset manager, independent pension trustee

Dodging a Dangerous Dogs Act moment

Posted by Richard Butcher on Feb 28, 2018 12:27:24 PM

First published in Professional Pensions, 14 February 2018

Any day now, although perhaps I should say any season, the DWP’s white paper will emerge, covering a raft of pension policies. This was originally conceived to put forward solutions and law changes to ease the defined benefit funding “crisis”. Its mission now seems to have morphed somewhat into something more minty than white.

The collapse of Carillion and the emerging back story led Theresa May to propose new powers for the Regulator: perhaps to veto dividend payments, or impose punitive fines or bonus clawbacks on wayward directors.

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Topics: Defined Benefit, db funding, trusteeship, defined benefit risks, pensionsindustry, independent pension trustee

How BHS will hit us all

Posted by Richard Butcher on May 13, 2016 12:08:02 PM

We are only a couple of weeks into the BHS saga, but already the story is starting to sound like the script of a pension disaster movie: tough business men in tough negotiations cutting hard deals, trustees fighting a corner, collapse, government intervention, Parliamentary inquiries, public spats between the parties. If it wasn’t for the loss of pension rights for the innocent members, a disinterested party might find this quite fun to watch.

The problem, I suspect, is that none of us will be “disinterested” for very long.

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Topics: db funding, tpr, governance, bhs,

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