The October 2006 issue of Pensions World

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COMMENT Modern machinery From passwords and pin numbers to jet engines and genetic engineering, the modern world is complex. Robin Ellison asks: “Why should pensions be any less perplexing?”.	3
NAPF DC CONFERENCE The shock of the new The buzz at this year's conference was DC and the electric debate around the NPSS. Mic Wright switches onto the sizzling topics of the day.	4
CURRENT EVENTS A summary of news, including: Lay offs disrupted by delay TUC terrier chases the fat cats? PPF presents levy changes Young prefer proper pensions Pension payments for preschoolers	7 8 10 11 14
FLEXIBLE RETIREMENT Carrying on in the corps The Pension Protection Fund has refuelled with a new chief executive. Helen Verrell meets the man in the driving seat, peers at his roadmap and wonders where he is headed.	21
EUROPEAN COMMENT It had to be flu The Dutch authorities are needling at pension schemes to prepare for a potential flu pandemic. Rob Ten Wolde asks, is this worthy of panic or just another case of hypocondria?	24
CROSS BORDER SCHEMES Borderline Cross border provisions are building barriers not breaking them down. Pippa Read presents the case for truly opening up the borders and putting a new stamp in the passport of progress	26
REITS The REIT move Real estate investment trusts are a structurally sound way of placing property in a pension scheme portfolio, according to Jakes Ferguson.	28
SWAPS The Wild West of wealth Pension schemes should think carefully before sidling up to investment banks in the swaps saloon, says Tim Gordon.	30
CONSULTANTS SURVEY From bard to worse? A Day bordered on classic farce; could proposals for the future of pensions play out like a tragedy? Assistant Editor Mic Wright pulls on his tights, picks up a skull and elicits some soliloquies from that merry band of players – pension consultants!	33
REGULAR FEATURES Letters Courses and seminars In good company Investment Brief Buy the book DC debrief Political stage Points of law Trustee topics Beginner's page Association forum Tax and benefit notes Pensions progress NAPF update Trustee tactics Statistics	10 12 12 17 18 39 40 42 44 46 47 48 50 51 52 53

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