Pensions World Magazine Archive

The September 2003 issue of Pensions World

		Page

	COMMENT	3
	Ignorance kills!!! Trustees have a duty to keep abreast of movements in the annuities market, says Stephanie Hawthorne, Editor. Without passing on the best rates, they could be shortchanging hapless pensioners by thousands.

	CURRENT EVENTS	5/6/8/9/11/12/13/14
	A summary of current news including:
	Voting doubts from Unilever AGM	5
	£300bn wind up burden	8
	About turn for FS	8

	PENSIONS OMBUDSMAN	16
	Overwhelmed The Pensions Ombudsman has been overrun with complaints this year. James Thomas glances through his annual report with a sympathetic eye.

	VIEWPOINT	17
	Empty promises BBC correspondent Andrew Verity is shocked to discover that there has never been a final salary 'guarantee' and that members have been misled into trusting some rather hollow or even non existent pensions promises.

	RETAIL PRICES INDEX	21
	Pricing a nation Howard McWilliam takes a look at the complex and painstaking process for measuring our national inflation. Though the RPI has been honed to a fine art, could it be under threat from the European HICP?

	PENSIONS SOLVENCY	25
	A watchful eye To prevent pension schemes becoming the wayward millstone around the company's neck, Antony Miller advocates the regular monitoring of funds as upsetting but best practice.

	PENSION SCHEME DATA	27
	On the mend Data may be reducible to a string of harmless zeros and ones, but when it is wrong it can lash out like a whip on unsuspecting companies. Malcolm Reynolds and Paul Stanaway provide first aid.

	ASSET ALLOCATION	29
	Money models Cash flow modelling can be a shrewd and malleable strategist for determining a scheme's asset allocation. Chris Watts dons his smock and kneads the figures.

	GROUP INCOME PROTECTION	31
	In sickness or in health With fund values looking so poorly, group income protection could be a godsend to employees unable to work because of sickness or disability. Edmund Tirbutt examines the providers market.

	CIVIL PARTNERSHIPS	33
	Partner and parcel The benefits package may finally be unwrapped for gay couples. David Pollard looks at the civil partnership registration proposals and their implications for pension schemes.

	WORKFORCE PROFILING	35
	…not the only fruit A workforce is made of many segments with different attitudes to finances. Sally Bridgeland suggests how employers can communicate fruitful messages to various types.

	SECURITIES LENDING	37
	Securer choices Pension schemes are sitting on some good - and possibly irresistible - opportunities for boosting income now that the risks of securities lending are under lock and key, says Ceri Jones.

	COMPENSATION SCHEME	39
	Going for broke Philip Goodchild examines the ins and outs of the government’s proposed pensions protection fund, and asks if it is heading for bust itself.

	Points of law Multiple meanings: Though misunderstanding can be entertaining, Robin Ellison finds that misinterpretation rife in the concept of ‘retirement’ can confound pension cases.

	Tax and benefit notes As easy as ABS: Provided parties can agree on the responsibility alphabet, Admitted Body Status can make pensions simpler when public sector employees are transferred out to contractors.	43

	Political stage
	Changing states: Dissatisfaction with the underlying state scheme is as strong as government's refusal to change it. Sue Ward reports on the parliamentary status.

	Points of law	45
	Practising safe pensions: Will the PPF be the best form of protection for schemes to carry, or could there be a radical continental alternative? asks Robin Ellison.

	Trustee topics	45
	Spoiling the view: The SMPI picture is framed and ready, but the illustration alone can have a confusing lack of composition, says Gresham Arnold.

	Beginners' page	46
	The actuary: In the first of a series probing the roles of the pensions professionals, Mick O'Loan takes a peep into the outlandish world of actuarial science.

	Tax and benefit notes	48
	Keeping on track: With root and branch simplification having derailed somewhat, Ian Long looks at pension reform's chances of being a smooth running success.

	Letters	12
	Courses and seminars	15
	NAPF Update	47
	Pensions progress	48
	Trustee topics	45
	Beginners' page	46
	Association forum	48
	Statistics	49

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