The December 2005 issue of Pensions World

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COMMENT War on error Extremists have been allowed to set the agenda by many investors but this is misguided. The globe trotting Robin Ellison stands firm and advocates a tougher stance.	3
CURRENT EVENTS A summary of news, including: Here comes Hutton! The problem with property Hosker hammers Opra NAPF conference report PW conference report.	5/6/8/11/12/13/15/16/18/19 5 6 12 15 18
ANNUITIES Life long learning Annuities are becoming more and more important as life expectancy continues to sprial upwards. Howard McWilliam looks at how to be top of the class.	21
E-LEARNING On tap Trustees could soon be swimming in training. Terry Clayworth explains how to dive into e-learning without feeling out of your depth.	25
WOMEN AND PENSIONS Let's hear it for the girls With A Day the financial services industry must tackle the scandalous shortfall in women's retirement savings. It is an unmissable opportunity to encourage them to save, says Linda McBain.	26
DB SCHEMES Grim fairy tales As defined benefit becomes a sleeping beauty we may be waking up to a nightmare. Jocelyn Blackwell wonders how the prince got turned into the frog and whether the industry is a damsel in distress.	28
RISK MANAGEMENT On a leash Many firms are dogged by risk but handling it properly can prevent a nasty bite. Everyone needs to be alert and ready to take the lead, says Rob Knight.	30
PENSIONS ADMIN SOFTWARE Seconds count The A Day clock is ticking and admin software providers are trying to syncronise their watches. Allison Plager stops the hands and presents some striking findings.	33
DC ADMIN The weakest link Paper trails have always been the break in the DC admin chain but straight through processing could help weld it together. It's time to tie up the loose ends and bring the disparate threads together, says Leslie Carline.	38



REGULAR FEATURES Philip Percival cuts to the quick with his analysis of annuities (p40), Sue Ward watches as David Blunkett's journey terminates (p42), Robin Ellison stalks the Euro sharks (p44), Hannah Clarke shows what the internet can catch (p46) and Peter Sayers is having a ball with PPF risk based levy concessions (p48). In Good Company Letters Courses and seminars DC debrief Political stage Points of law Association forum Beginners' Page NAPF update Tax and benefit notes Pensions progress Statistics	11 12 13 40 42 44 45 46 47 48 50 52

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