Source: http://www.retirementcalculatoruk.info/the-best-ssas-for-your-business/
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Sunday, 31 July 2011
The best SSAS for your business
SSAS pensions are the best and newest solution for informed persons. Business owners and directors all over the UK are using them with advice from their financial advisors. Smart bespoken schemes to leverage their enterprises through the credit crunch into … Continue reading
Do you have the correct Tax Code?
My dear Mum recently celebrated her 65th birthday.
Source: http://www.lse.co.uk/blogs/expert/resident-ifa-blog/tvsjoi/
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UK GDP Growth Figures: only an Osborne ?weakovery?
Source: http://blogs.birminghampost.net/business/2011/07/growth-figures-only-an-osborne.html pensions calculator ill health retirement the pension service pension release annuity Source: http://www.the-pension-service.info/uk-gdp-growth-figures-only-an-osborne-weakovery/ nhs pension pension forecast pensions uk iht annuity rates Source: http://www.drawdown.info/uk-gdp-growth-figures-only-an-osborne-weakovery/ the pension service pension release annuity inheritance tax pension calculator
Source: http://www.illhealthretirement.info/uk-gdp-growth-figures-only-an-osborne-weakovery-2/
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CFOs Fund Pension Plans With Intellectual Property
In "How Creative CFOs are Funding Pension Plans with IP" (Valuation Researcher Alert, June 2011), its authors describe how some Chief Financial Officers are transferring intellectual property assets to their respective pension plans. To add up to 275 million Great British Pounds to its UK defined benefit plans, "TUI Travel PLC is utilizing a partnership arrangement, backed by its Thomson and First Choice brands."
The idea is novel as was Diageo's use of "whiskey" assets to top off its retirement plan funding status. See "Diageo pledges whiskey against pension deficit" by Cecilia Valente, Reuters, July 1, 2010.
As with any "hard to value" security, there is merit in using an independent third party appraiser who can objectively incorporate risk factors in projecting future expected cash flows associated with an intangible asset like a trademark or patent.
Increasingly, expert work with which I am involved has focused on questions about whether an illiquid instrument was properly valued. As I stated during my September 11, 2008 testimony on this topic before the ERISA Advisory Council, bad valuations and related poor policies and procedures can have a costly domino effect because valuation numbers directly impact asset allocation and risk management decisions over time, not to mention fees that are paid to service providers. This is not good news for fiduciaries who are already faced with numerous challenges, each of which puts them squarely in the spotlight of regulators and litigators who see many ERISA plans as needing to do much more in the way of best practices. In the United States, should the U.S. Department of Labor expand its definition of a fiduciary to include appraisers, it may discourage valuation professionals from working with ERISA plans. This itself could be a problem.
Source: http://feeds.lexblog.com/~r/PensionRiskMatters/~3/etECkMQQI3o/
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Phone hacking: Trinity Mirror drawn into the spotlight by Morgan
Trinity Mirror's announcement last week that it is staging "a review of editorial controls and procedures" may prove as ineffective a response to phone hacking allegations as the various infamous internal inquiries at News International.
The publisher of the Daily and Sunday Mirror and The People is being drawn ineluctably into the affair, as today's headlines and stories illustrate.
Though the Sunday Times cannot, perhaps, be said to be entirely impartial, its piece about "three or four" looming legal actions against Trinity titles is well sourced.
The Independent on Sunday's article, Now Trinity Mirror feels the hacking heat, is based around allegations about Piers Morgan, who edited the Daily Mirror for nine years until 2004.
The Sunday Telegraph's diary also carries an item suggesting that Nancy Dell'Olio is considering legal action against Morgan, citing the paper's revelations about her relationship with the former England football manager Sven Goran Eriksson.
The Sindy's piece reports that two of Trinity's biggest investors, Standard Life and Aviva, "want to know more" from the company's chief executive Sly Bailey and "are understood to be making their views known" to chairman Sir Ian Gibson.
It claims the pressure on Trinity is intensifying because of a posting by Guido Fawkes on Friday that Mirror group paid �442,878 to a private investigator during Morgan's editorship.
There is no suggestion that the payments concerned phone hacking (or any illegal activity), but the company will need to get on to the front foot if it is to distance itself from the new swirl of speculation about its former news-gathering practices.
Bailey was delighted to have fired Morgan in 2004 (over publishing faked pictures of British soldiers abusing Iraqi prisoners) in the belief that he had become "a monster."
By that, she meant he had become far too big for his boots, saying and doing exactly as he liked without apparent regard for her and the Trinity board.
I imagine it has therefore displeased her greatly that her company - already suffering from severe financial strains - has been dragged into the hacking affair by virtue of Morgan's various boastful statements in the past about hacking (here and here and here).
And Guido has added another from Morgan's book, The Insider, by noting this April 2000 diary entry:
"I got back to the office to learn that Kate Winslet, having indicated she would come to our Pride of Britain awards tomorrow, is now saying she can't.
Someone had got hold of her mobile number ? I never like to ask how ? so I rang her... 'Hello,' she said, sounding a bit taken aback. 'How did you get my number? I've only just changed it. You've got to tell me, please, I am so worried now.'"
He never liked to ask! It's a further example of his seemingly cavalier attitude towards the dark arts, as I pointed out in my posting on Friday.
Despite his protestations of innocence from his new berth at CNN, he has not explained his insouciant attitude towards hacking prior to the recent revelations.
CNN is supporting him just now, but, as James Robinson reported, his star at the US news channel is no longer in the ascendant.
As for Trinity, with its share price at 44p, it needs to convince nervous investors that the sales benefits its Sunday Mirror is enjoying in the absence of the News of the World will lead to improved ad revenue and a path towards greater stability at its national division.
It has tried to calm fears that it will be dragged down into the hacking mire by issuing a statement saying that its journalists "work within the criminal law and the PCC code of conduct."
One major investor, Schroder Investment Management, recently sold 4.5m shares, reducing its stake to 15.6%, though that is unlikely to have had anything at all to do with hacking.
According to a Sunday Telegraph story, Trinity is planning to restore its fortunes by, once again, cutting costs - and more jobs, including "a large number" of journalists.
The group, which is due to report its half-year results on 12 August, is said to recognise that "significantly increased cuts" are necessary.
guardian.co.uk © Guardian News & Media Limited 2011 | Use of this content is subject to our Terms & Conditions | More Feeds
Source: http://www.guardian.co.uk/media/greenslade/2011/jul/31/trinity-mirror-piersmorgan
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Treating Customers Fairly?
My company is termed by the Financial Services Authority (FSA) as a ?Small Business?.
Source: http://www.lse.co.uk/blogs/expert/resident-ifa-blog/bn0fzx/
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Company cars - fuel rates
HMRC has announced new fuel rates for company cars from 1 June 2011.
For one month from the date of change, employers may use either the previous or new current rates, as they choose
For one month from the date of change, employers may use either the previous or new current rates, as they choose
Source: http://feeds.lexblog.com/~r/MercerHole/TaxPlusBlog/~3/UNBOujXPNJA/
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More on that Salary Sacrifice story?
As I promised last week, a little more on that Salary Sacrifice story.� For those not up to speed with this one, I refer you to my original post on this: http://www.jelfgroup.com/blog/2011/03/the-budget-3-tax-merger-and-salary-sacrifice/ It appears that I am far from alone … Continue reading
Source: http://www.jelfgroup.com/blog/2011/05/more-on-that-salary-sacrifice-story/
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Statutory residence test and Non-domicile taxation consultations
The treasury will be releasing its forthcoming consultations on Friday 17 June 2011 on 'Statutory residence test' and 'Non-domicile taxation'.
Source: http://feeds.lexblog.com/~r/MercerHole/TaxPlusBlog/~3/VXgP5sERsVU/
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Saturday, 30 July 2011
More on that Salary Sacrifice story?
As I promised last week, a little more on that Salary Sacrifice story.� For those not up to speed with this one, I refer you to my original post on this: http://www.jelfgroup.com/blog/2011/03/the-budget-3-tax-merger-and-salary-sacrifice/ It appears that I am far from alone … Continue reading
Source: http://www.jelfgroup.com/blog/2011/05/more-on-that-salary-sacrifice-story/
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Statutory residence test and Non-domicile taxation consultations
The treasury will be releasing its forthcoming consultations on Friday 17 June 2011 on 'Statutory residence test' and 'Non-domicile taxation'.
Source: http://feeds.lexblog.com/~r/MercerHole/TaxPlusBlog/~3/VXgP5sERsVU/
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Short service pension refunds?
Some of you will recall that the subject of pension�contribution refunds�from Occupational Pension Schemes has been under review for a few months now. For those not up to speed on this, my post refers:� http://www.jelfgroup.com/blog/2011/02/refunds-of-pension-contributions-a-call-for-evidence/ Whilst this may not appear … Continue reading
Source: http://www.jelfgroup.com/blog/2011/06/short-service-pension-refunds/
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drawdown video final 140311 600kbps
Source: http://www.retirementcalculatoruk.info/drawdown-video-final-140311-600kbps/ pension lump sum pension transfer retirement age uk retirement calculator annuity calculator
Source: http://www.annuitycalculatoruk.info/drawdown-video-final-140311-600kbps/
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What to see: Lyn Gardner's theatre tips
As previews begin on the Edinburgh fringe, festivals and outdoor theatres around the country offer summer treats from circus to Shakespeare
The Edinburgh fringe kicks off next week, but although things are pretty quiet elsewhere, it's by no means the only thing of note. There's plenty still happening on the festival front elsewhere, for instance. In the south-west the Bristol Harbour festival starts today, featuring Geraldine Pilgrim's delicious Handbag at the Arnolfini tomorrow, among other performances. In London, the Sacred InTransit programme includes a whole day of walking and moving performances, including Amy Sharrocks's Lost and Found and Ragroof's Tea Dance. Later in the week the brilliant Stockton International Riverside festival begins. Look out for Ilotopie walking on water in the exquisite Waterfools (Fous de Bassin); Argentinean company Voala taking inspiration from 1960s psychedelia for Moare, in which 13 acrobats are suspended from a giant mobile high in the air; and Wired Aerial's climate-change show, As the World Tipped.
The RSC is busy in Stratford-upon-Avon this week, opening David Farr's revival of Pinter's The Homecoming and Nancy Meckler's revival of A Midsummer Night's Dream. There's more Shakespeare in Rendlesham Forest, where Red Rose Chain are performing Twelfth Night. Talking of Shakespeare, it's your last chance this weekend to catch the delightful As You Like It at the Royal Exchange in Manchester, although you may like the revival at Grosvenor Park in Chester just as much. From Friday, Southwark Playhouse heads outdoors to the Bermondsey Hotel for A Midsummer Night's Dream.
For something completely different, head to Stowmarket tonight and tomorrow only for the Pacitti Company's performance banquet An Edible Compass, part of an ongoing project exploring notions of home called On Languard Point which has public events throughout the summer. Down in Plymouth, Listed Lido in Plymouth charts the campaign to save the Tinside Lido on Plymouth Hoe.
A number of musicals open this week, including Chris Monks's version of Carmen at the Stephen Joseph in Scarborough, a revival of Howard Goodall's fabulous The Hired Man at London's Landor, and Dames at Sea at the Union tonight. Don't forget Fela! at Sadlers Wells or Crazy For You which is in preview at the Regent's Park Open Air Theatre. Also in London, the Steam Industry's free summer season of theatre at the Scoop begins on Thursday and includes two contrasting pieces, Around the World in 80 Days and Brecht's The Mother. Last year's intriguing Edinburgh hit, Reykjavik, a forensic love story, goes into the Roundhouse.
In York, the team behind the very successful Railway Children ? currently packing them in at Waterloo Station ? are tackling JM Barrie's Peter Pan. Treasure Island in Bristol is good fun too, and there's still time for Merlin and the Legend of King Arthur in Lancaster's Williamson Park. New writing is well served by Double Feature at the NT, Rebecca Gilman's Blue Surge at the Finborough and Penelope Skinner's The Village Bike which finishes its run at the Royal Court at the end of the week.
The Edinburgh fringe doesn't officially begin until next weekend. But you'll find plenty of shows in preview all over town, and a few out of town, too, including Linda Radley's Traverse-bound Futureproof, which is at Dundee Rep for a preview on Wednesday, and where it will return after the festival. Yes, you're taking a chance on a preview but there are some fantastic ticket deals around. I'll be doing an Edinburgh special theatre tips next week, by which time I'll be there. But I reckon if you're looking for shows, the places to head are the Traverse, which has plenty to choose from next Tuesday, and St George's West which opens its programme on Friday 5 August. Have fun.
guardian.co.uk © Guardian News & Media Limited 2011 | Use of this content is subject to our Terms & Conditions | More Feeds
Source: http://www.guardian.co.uk/stage/theatreblog/2011/jul/29/lyn-gardner-what-to-see-theatre
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Portugal, Spain and the future of the euro
The severity of the current Portuguese crisis results from a mixture of internal and external factors. After an initial boost in the second half of the 1980s fuelled by EU membership and some significant market-oriented internal reforms, Portugal gradually became … Continue reading
Source: http://www.retirementcalculatoruk.info/portugal-spain-and-the-future-of-the-euro/
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FactCheck: Is Fox jumping the gun on Army cuts?
The claim
Will the Secretary of State confirm whether he has any plans to reduce the size of the Army post-2015?
Will the Secretary of State confirm whether he has any plans to reduce the size of the Army post-2015?
Source: http://blogs.channel4.com/factcheck/factcheck-is-fox-jumping-the-gun-on-army-cuts/7286
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Pensions Champions courses: Summer term 2009
This course will help union reps to:
- consider the basic pension environment, examining state pensions, occupational pensions, personal pensions and additional pensions
- become familiar with a range of resources, looking at published materials as well as those available on websites
- make extensive use of the TUC's online materials, all activities will have an online element
Source: http://www.pensionschampions.co.uk/?q=node/68
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Friday, 29 July 2011
Inherited wealth and inequality
Inherited wealth makes the UK an even more [...]
Source: http://www.touchstoneblog.org.uk/2011/07/inherited-wealth-and-inequality/
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Prospect Match System
Prospect Match lead generationVideo Rating: 3 / 5
Source: http://www.statepensionforecast.info/prospect-match-system/
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Tax & NI Merger Consultation opens?
Regular followers of this blog, or attendees at our recent events,�will be aware that the proposed merger of Income Tax & National Insurance (NI)�has some seriously bad�implications for the provision of UK employee benefits. Whilst that may sound like pure … Continue reading
Source: http://www.iiht.info/tax-ni-merger-consultation-opens/
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National Savings & Investments
NS&I are not currently issuing index linked or fixed rate certificates so anybody with existing certificates about to mature should think twice before giving them up.
Source: http://feeds.lexblog.com/~r/MercerHole/TaxPlusBlog/~3/m9Z5ZnoaFGg/
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The slowest recovery for more than sixty years
Today?s GDP figures show that the recovery is [...]
Source: http://www.touchstoneblog.org.uk/2011/07/the-slowest-recovery-for-more-than-sixty-years/
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Computer-Driven Trading Slowing Down?
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According to "Traders Exit High-Speed Lane" by Tom Lauricella (Wall Street Journal, May 5, 2011), equity trading has slowed down since last year's market "flash crash." Citing concerns on the part of previously active algorithmic traders and longer-term investors with a stomach for more calm, trading volume has dipped as a result. In turn, volatility has quieted, rendering it difficult for high frequency traders to turn a profit. Lauricella adds that some hedge funds that engage in statistical arbitrage have shut down or entered into fewer transactions if their performance has discouraged investors from sending more money their way. A counter opinion described in the article is that trading volume was artificially high during the credit crisis and that current numbers reflect the norm.
Institutional investors are impacted by the depth and breadth of trading activity in any secondary market in part because risk-takers facilitate liquidity by being the "other side." Having worked on several trading desks and also done research in the area of market microstructure, I know firsthand how aggregate levels themselves can fall short as a guide to what is really going on beneath the surface. Those pension funds and endowments that track short-term dynamics for timing purposes (i.e. market entry or exit) may want to examine the bid-ask spread trends along with price behavior relative to technical indicators in addition to total volume and volatility. For those that have relationships with high frequency trading ("HFT") teams, note that the Financial Industry Regulatory Authority ("FINRA") has publicly declared its intention to scrutinize firms that effect "orders by use of HFT models or trading algorithms" by making sure that "such trading complies with applicable FINRA rules and federal securities laws and regulations, including anti-manipulation provisions." Some assert that high frequency trading litigation may accompany heightened enforcement activity.
Note to Readers: The items listed below may be of interest.
- "Findings Regarding The Market Events of May 6, 2010: Report of the Staffs of the CFTC and SEC to the Joint Advisory Committee on Emerging Regulatory Issues," September 30, 2010
- VIX® - CBOE Volatility Index Frequently Asked Questions
- February 8, 2011 Letter to Compliance Professionals From Susan F. Axelrod (FINRA Executive Vice President - Member Regulation) and J. Bradley Bennett (FINRA Executive Vice President - Enforcement)
- "Man Vs. Machine: Pros and Cons of High-Speed Trading" by Bob Pisani, CNBC, September 13, 2010
Source: http://feeds.lexblog.com/~r/PensionRiskMatters/~3/iwI8kdFKSUw/
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MyIP joins the Inter Payroll family
Inter Payroll announces MyIP- the new secure online data transmission system. Similar Posts Inter Payroll unveil new changes Inter Payroll introduces Live Chat Christmas and New Year opening hours Source: http://www.interpayroll.co.uk/blog/news/myip-joins-the-inter-payroll-family.html pensions uk iht annuity rates stakeholder pensions uk retirement … Continue reading
Source: http://www.pensionforecast.info/myip-joins-the-inter-payroll-family-3/
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A cautionary tale
One of my Clients died yesterday...on his 45th birthday.
Source: http://www.lse.co.uk/blogs/expert/resident-ifa-blog/rcygd0/
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War in Afghanistan: What is A ?Responsible Drawdown??
Roland Martin appears on Rick’s List with Rick Sanchez and the Best Political Team on television (Candy Crowley, John King, Jeffery Toobin, Ed Rollins, Gloria Borger and Victoria Toensing) to discuss General Petraeus confirmation hearing. During the hearing General Petraeus … Continue reading
Source: http://www.drawdown.info/war-in-afghanistan-what-is-a-responsible-drawdown/
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Computer-Driven Trading Slowing Down?
According to "Traders Exit High-Speed Lane" by Tom Lauricella (Wall Street Journal, May 5, 2011), equity trading has slowed down since last year’s market "flash crash." Citing concerns on the part of previously active algorithmic traders and longer-term investors with … Continue reading
Source: http://www.pensionsuk.info/computer-driven-trading-slowing-down-5/
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Thursday, 28 July 2011
RPI to CPI: a good time to look at old pension increase changes too?
In those halcyon days before section 67, and the regulatory impositions of the disclosure regulations, did changes to pension schemes seem to go more smoothly?� Perhaps in those days of higher inflation a change to guarantee inflation-linked increases to pensions capped at, say, 5% seemed an improvement on fixed increases of, say, 3% per annum.� [...]
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We have a real fight on our hands
Public sector pensions are at a very dangerous crossroads. We are facing an incremental and sustained attack on the NHS pension scheme that is likely to result in a threat to the scheme?s very existence. The first attack was to the discount rate. Leaving aside the details and the rights and wrongs of the move, [...]
Source: http://blogs.bma.org.uk/pensions/2011/05/26/we-have-a-real-fight-on-our-hands/
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Treating Customers Fairly?
My company is termed by the Financial Services Authority (FSA) as a ?Small Business?.
Source: http://www.lse.co.uk/blogs/expert/resident-ifa-blog/bn0fzx/
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Losing the default retirement age ? stuck with a normal pension age?
As is well known, employers have been able to retire employees at 65. The ability to do this is now removed for most employees under employment legislation (from 6 April 2011 or 1 October 2011 if the employee had already been given notice of imminent retirement). So many of our clients are starting to face [...]
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Forex Systems: What Is Drawdown?
When you are looking at forex systems, one of the factors that you might see mentioned in a good system review or summary is drawdown.Video Rating: 0 / 5
Source: http://www.illhealthretirement.info/forex-systems-what-is-drawdown/
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�11bn in green taxes: is the Treasury milking the green economy?
�11bn in revenues from carbon taxes must be [...]
New world heritage site ? Barbados
As news surfaces of Bridgetown being named a world heritage site by UNESCO. What does this mean for Property owners in the country and future investors in Barbados Property? There are many factors which affect property prices in the Caribbean … Continue reading
Source: http://www.inheritancetaxthreshold.info/new-world-heritage-site-barbados-2/
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The basics
How often do you invest time simply to ?see what you have? in financial terms? Source: http://www.lse.co.uk/blogs/expert/resident-ifa-blog/2dl3mh/ annuity calculator pensions advisory service can i retire pensions calculator ill health retirement
Source: http://www.the-pension-service.info/the-basics-2/
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Wednesday, 27 July 2011
Good intentions?
I?m working to the assumption that the readers of this Blog will be ?clued-up?, and so enjoy an ongoing relationship with an Independent Financial Adviser (IFA).
Source: http://www.lse.co.uk/blogs/expert/resident-ifa-blog/idqodi/
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What NESTCorp is costing us
I wonder why NEST Corp's own staff pension contributions cannot be accommodated within NEST , saving future member's the burden of �3.6m pa in interest payments.
Source: http://henrytapper.com/2011/07/20/what-nestcorp-is-costing-us/
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FactCheck: Meetings with Murdoch
David Cameron’s new rules on transparency were rushed in on the same day Rebekah Brooks quit. The PM slung out the details of his meetings with media moguls, leaving Ed Miliband racing to match his new spirit of openness. And … Continue reading
Source: http://www.can-i-retire.info/factcheck-meetings-with-murdoch/
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Digging a bit deeper into the Hutton report
Over the past couple of weeks we in the BMA Pensions Department have been reading and re-reading the Hutton report to try to make sure that every possible nuance is understood. We are trying to avoid any nasty surprises when the government eventually consults on possible changes to the NHS Pension Scheme in the autumn [...]
Source: http://blogs.bma.org.uk/pensions/2011/05/09/digging-a-bit-deeper-into-the-hutton-report/
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Flatliners?
Source: http://blogs.birminghampost.net/business/2011/07/flatliners.html annuity calculator pensions advisory service can i retire pensions calculator ill health retirement Source: http://www.pensionforecast.info/flatliners/ annuity rates stakeholder pensions uk retirement drawdown state pension forecast
Source: http://www.uk-retirement.info/flatliners/
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Emergency Budget 2010 - Financial Planning Budget Highlights
Emergency Budget 2010 - Financial Planning Budget Highlights. By George, was it as bad as I thought it might be? No... and there's even the odd bit to be optimistic about.
Source: http://feeds.lexblog.com/~r/MercerHole/TaxPlusBlog/~3/TIXdTjPNPIA/
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Understanding risk will reap the rewards of open public services
Local volunteers will fear making the wrong decision when it comes to public services – they need support to make the choices passed down to them Opening up public services has the promise of both risk and reward. Under government … Continue reading
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RBC Part 1 of 2 presentation on annuities, the fixed index annuity, and learning about investments
RBC talks about growth and income through non risky investments like annuity’s. Funding the priority an individual will need to have a good life in retirement with guaranteed streams of income. WealthVest has teamed with more than 25 of the … Continue reading
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A truth universally acknowledged??
Today’s big story of course is the Government green paper on the future of the basic state pension. Currently one of the lowest in the developed world it stands at a paltry �97.65 a week (assuming you have a full National Insurance record) rising to a minimum income guraranteed top up figure of �132.60 if [...]
Source: http://www.pensionlawyerblog.com/pensions-green-paper
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Tuesday, 26 July 2011
Falling Skies: episode four
The show seems to be getting past its patchy start, as we learn more about the skitters and there are some great creepy touches
Spoiler alert: Don't read on if you haven't watched the second episode of Falling Skies on FX. If you've seen later episodes please be aware that many UK viewers have not ? and don't post spoilers.
Phelim O'Neill's episode three blog
I have to confess I cheated a little this week. I jumped ahead a few weeks as it didn't seem to be moving fast enough and I had to check to see if it gets better. While tonight's instalment is a general improvement, episode five is even better, and six is the best the show has managed to date.
This may matter not to viewers ? the phrase "too little, too late" springs to mind. I think it was a real mistake not to show the first two episodes together; a lot of people gave up after episode one or a few minutes into episode two. For me, it's fine: years of watching anything and everything science fiction has made me unusually tolerant of bad acting and plotting, so long as there is a flash of inspiration somewhere along the line. I would have easily watched all of Outcasts and The Deep, always optimistic that something of interest was about to happen, even if I hadn't been writing about them. Other people, though, have lives to lead.
So let's have a look at the good first. The captured skitter stuff was almost all fine; it's a standard routine in science fiction and while Falling Skies offered nothing particularly new, it did reveal a lot more about our alien overlords. The flashes of radio static being picked up by the hitherto useless kid Matt was a good touch, giving some explanation of how the harnesses work ? it's always good to include a bit of science with the fiction. The alien speaking through Rick was also nice and creepy, if not original. The aliens have a modus operandi more complex than just conquering the world and killing all the humans; finding out more is what holds our interest.
The road trip with Pope was also effective. It broke the action up a bit and it was nice to get out of the school/camp. Pope, despite looking and acting like something out of an early 90s Renny Harlin movie, is still one of the few characters with a bit of life in them. He gets a few funny lines ("Unarmed? What am I, Canadian?") and is always looking for a chance to kill skitters. At least his character has a bit of understandable motivation ? better than Doctor Harris, who just seems to be evil for its own sake. The best bit tonight was the skitters cleverly using harnessed children holding automatic weapons, which was very creepy. The sleeping skitters were also a great image.
While the show is getting there on the trappings and content, it's the delivery that's still awkward and clumsy. Twice in this episode the plot was advanced by stupidity: once when the captured skitter was left bafflingly unguarded; and again when Pope was sent off with Dai to the back room of the bike shop after they'd all been watching him like a hawk until this point. Another duff move was during the closing moments where religion crept in. I'm not against religion, just the cloying, obvious and saccharine version of it that ended the episode ? it was as bad as the "hugging and learning" ending of the BBC's Survivors. Sensitive piano music cranked right up and everyone saying what they are thankful for just isn't a satisfying way to end an episode.
Still, the good outweighed the bad in this episode for the first time. The next two weeks give us more of the skitters and less of the dumb plotting; hopefully these are a sign of more good to come. The show is doing just fine in the US, ratings are strong and a second season has been green-lit. But what do we think of it over here?
guardian.co.uk © Guardian News & Media Limited 2011 | Use of this content is subject to our Terms & Conditions | More Feeds
Source: http://www.guardian.co.uk/tv-and-radio/tvandradioblog/2011/jul/26/falling-skies-episode-four
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The case for doing nothing
There is a case for doing nothing and it is a logical case- but it’s not a course of action I intend to follow, Source: http://henrytapper.com/2011/07/26/the-case-for-doing-nothing/ pension release annuity inheritance tax pension calculator nhs pension Source: http://www.pensiontransferuk.info/the-case-for-doing-nothing/ pensions calculator ill … Continue reading
Source: http://www.retirementcalculatoruk.info/the-case-for-doing-nothing/
Will ?brand? become more important in employee benefits?
Apart from keeping you informed on some of the more significant changes to the world of employee benefits, and likewise on our forthcoming events etc, this blog also allows me to ‘think aloud’ on areas around employee benefits that are … Continue reading
Source: http://www.ukstatepension.info/will-brand-become-more-important-in-employee-benefits-4/
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FactCheck: Is Fox jumping the gun on Army cuts?
The claim
Will the Secretary of State confirm whether he has any plans to reduce the size of the Army post-2015?
Will the Secretary of State confirm whether he has any plans to reduce the size of the Army post-2015?
Source: http://blogs.channel4.com/factcheck/factcheck-is-fox-jumping-the-gun-on-army-cuts/7286
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Accounts and accountability-who pays for NESTCorp?
I am a lover of NEST- of collective DC – of private and public partnerships that bring better funded pensions to people for whom the current system cannot reach. I have made my own private submission to the Work and … Continue reading
Source: http://www.retirementageuk.info/accounts-and-accountability-who-pays-for-nestcorp/
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DRAWDOWN: SovietDamage! (Officecam 2/10/10 clip)
Camille draws her interpretation of an Officecam viewer’s username: SovietDamage! You can watch the full episode here: vimeo.com featuring an interview our new intern Frenzie, an old video of Steve dancing like a goon, and three other DRAWDOWN segments! You … Continue reading
Source: http://www.ukstatepension.info/drawdown-sovietdamage-officecam-21010-clip-2/
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Pension Governance Ranks High As a Priority
As this blogger, Dr. Susan Mangiero, has pointed out repeatedly since the March 2006 inception of www.PensionRiskMatters.com, pension governance counts.
There are numerous ways to quantify the positive impact of governance done well. By extension, the costs of poor pension governance can throw cold water on growth in corprorate earnings and free cash flow. As a result, not only can plan participants suffer but so too can shareholders and creditors should bad employee benefit plan decision-making depress the value of company issued securities.
In a recently issued survey, Towers Watson finds that four out of ten employers "expect to devote more time addressing retirement plan governance issues over the next two years." Reasons cited include the expense of providing benefits, along with more regulatory complexity. Investment volatility was another identified catalyst.
While the in-depth study is not yet published by its sponsor, Towers Watson, it will be interesting to explore later on why more than half of respondents acknowledge the importance of compliance but "only one in four (26%) schedule regular compliance reviews."
Visit www.towerswatson.com/governance-survey for more information.
Source: http://feeds.lexblog.com/~r/PensionRiskMatters/~3/PY-pRJvsQjE/
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Northcliffe agrees to sell seven weeklies to KM group
Northcliffe Media has agreed to sell off a raft of titles in Kent to the county’s biggest newspaper publisher, the family-owned KM group. KM, facing possible competition problems, is therefore making a formal submission to the Office of Fair Trading … Continue reading
Source: http://www.the-pension-service.info/northcliffe-agrees-to-sell-seven-weeklies-to-km-group/
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As Ben Elton might say...
?...and now for a little bit of Politics?, or words to that effect.
Source: http://www.lse.co.uk/blogs/expert/resident-ifa-blog/s6upa0/
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Monday, 25 July 2011
ERISA Fiduciaries Under Attack: Key Litigation and Regulatory Developments
I am pleased to announce that I will be speaking in an upcoming live phone/web seminar entitled "ERISA Fiduciaries Under Attack: Key Litigation and Regulatory Developments" scheduled for Thursday, June 16, 1:00pm-2:30pm EDT. Litigation surveys cite breach of fiduciary duties … Continue reading
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ISAs...Why the rush?
This time last year, the FTSE100 stood at the 4,000 mark or thereabouts. Today (31.3.10), it closed at 5,672.
Source: http://www.lse.co.uk/blogs/expert/resident-ifa-blog/lwxf72/
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Prioritizing Risk Management
Since I launched my second blog in early 2011 to discuss risk management and investment best practices for a wider institutional audience beyond pension plans alone, I've seldom posted items in both places. Instead, I've tried to provide unique insights for employee benefit plan decision-makers on www.PensionRiskMatters.com and address broader regulatory, litigation and compliance issues on www.GoodRiskGovernancePays.com.
Today is an exception. I am reprinting my comments about risk management on both blogs because I believe so strongly in the importance of effective risk management as an integral component of investment governance. I hope you enjoy reading my comments, originally published on The Glass Hammer website. For those who are not familiar with the group, check out www.TheGlassHammer.com to learn about this award-winning blog and online community created for women executives in finance, law, technology and big business. See below or click on "Thought Leaders: Prioritizing Risk Management" to read the full text of this commentary about the benefits of risk mitigation well done and the costly consequences of inattention or sloppy practices.
Full Text:
Thought Leaders: Prioritizing Risk Management, July 14, 2011, 1:00 pm
Contributed by Susan Mangiero, PhD, Investment Risk Governance Consultant and Author
For those financial institutions which have yet to grasp the importance of identifying, measuring, managing, and monitoring risks on a comprehensive basis, time may not be on their side. Regulators and litigators alike are forcing change.
There are countless individuals who want better information from their service providers about risk and are prepared to vote with their feet if they don’t get good answers. After all, these institutional investors themselves are confronted with a bevy of new mandates that require transparency. The good news is that change opens the door to business opportunities. Enlightened organizations that have good processes in place and have nothing to hide can differentiate themselves from competitors. Providing clients with education and data tools offers yet another way for asset managers, consultants, banks, and advisors to forge stronger relationships with their pension, endowment, foundation and family office clients. On the flip side, those who are reluctant to explain how they manage their financial, operational and legal risks may lose clients or worse yet, could end up as defendants in a lawsuit.
Pay to play conflicts, questions about hidden fees, state and federal legislation and new accounting rules are a few of the forces at work to ensure that trillions of institutional dollars are in good hands. Effective investment stewardship is no longer a luxury. Recent surveys confirm that buy side decision-makers continue to emphasize governance and risk management for their organizations as well as providers of products and services. Institutional investors can ill afford to lose money after a tumultuous few years. Investment committee members who give short shrift to fiduciary duties could end up being investigated by regulators or sued. According to federal court data, the number of ERISA lawsuits is going up. Factor in investment arbitrations, enforcement actions and “piggyback” securities litigation allegations and it is clear that unhappy investors are not going to accept the status quo.
1. Fiduciary Focus
Besides efforts underway by the U.S. Securities and Exchange Commission (SEC), the U.S. Department of Labor (DOL) has proposed an expanded definition of who should serve as a fiduciary to ERISA employee benefit plans. If adopted, countless more professionals will be tasked with demonstrating procedural prudence when it comes to the investment of over $30 trillion in money from corporate retirement plan sponsors. States are likewise seeking change in the form of trust law reforms that tighten accountability for the investment of monies held by endowments, foundations and charities. The questions now being addressed by judges and arbitration panels relate to “excessive” risk-taking, insufficient diversification, absence of independent assessments of hard-to-value instruments and oversight failures that have led to large losses that might have been highly preventable.
One asset management firm recently settled with the SEC for $242 million over a mistake with one of its risk management models. Another firm just settled with the SEC for $200 million due to problems in the way subprime securities were marked. A few years ago, a Northeast pension plan was sanctioned by the DOL for not having thoroughly vetted valuation numbers provided by one of its hedge fund managers.
When I testified before the ERISA Advisory Council in 2008, I emphasized that having good valuation policies and procedures is essential because it impacts so many decisions having to do with asset allocation, hedging and fees paid.
2. Data Mining for Gold
Data analysis is a cornerstone of effective risk management but only if inputs are considered good. Garbage in, garbage out can be disastrous and costly. The use of unreliable, incomplete or inaccurate data points can result in bad decisions being made about measuring and controlling risks. Since risk
management is integral to investment management, other decisions such as portfolio rebalancing may be flawed as a result. Moreover, data is not created equal. Consider a few examples. Yields for a constant maturity security are not the same as yields on particular financial instruments with a fixed maturity date. Betas can be levered or unlevered. Mutual fund returns may not include all relevant fees, let alone the timing as to when the fees are charged. Hedge funds that utilize side pockets will report performance numbers that are skewed as a result. For an institutional investor that is trying to decide how to best manage risk or make sure that its service provider is properly controlling risk, one has to first measure the numerous risks that can spell trouble if left unchecked.
I’ve been fortunate to have worked on various projects where I had to thoroughly understand data quality exigencies before I could conduct statistical analyses that in turn were used for risk management or compliance purposes. While pursuing my PhD in finance, I took extra math and statistics courses to strengthen my data analysis skills. My doctoral research on trading patterns and market liquidity required extensive vetting of transaction data that was provided by the New York Stock Exchange. When I worked in the treasury department of a Fortune 500 company, I had to review and assimilate large amounts of data about a $200+ million derivative instrument portfolio in order to make recommendations about hedging strategies and risk monitoring technology functions. When I now serve as an expert witness on financial litigation matters, I spend copious amounts of time with relevant data to first understand what it means and then evaluate what could have been done differently to avoid losses. Data analysis is an important component of estimating economic damages that a judge or arbitration panel will review for settlement or award purposes.
Making decisions based on numbers alone is not the way the business world works. There are qualitative and quantitative risks that cannot be ignored but, of course, decisions and data do need to be aligned.
3. Everyone is a Risk Manager
There is no sector of the investment management industry that is immune from risk management. Due diligence meetings increasingly focus on what asset managers, banks and other service providers are doing to manage their risks. Pension committee members are being asked to account for how they select managers and investments with more details about prudent process. Donors are reluctant to give money to non-profits without assurances that risks are under control. Auditors are tasked to ensure that models for hard-to-value instruments are regularly monitored for appropriateness. Board members and compliance officers are in the spotlight for their oversight of risk-taking and the extent to which investors are kept abreast about controls.
Risk management is an important means to an end. It is in everyone’s best interest to identify, measure, manage and monitor risks. Otherwise, it comes down to being lucky or not. Try explaining whim to investors, shareholders, taxpayers, litigators and/or regulators.
In addition to a plethora of articles about risk management and valuation, Susan Mangiero, PhD, CFA, FRM is the author of Risk Management for Pensions, Endowments and Foundations. She is busy at work on a new book about investment risk governance. Mangiero is the architect behind an award-winning, syndicated blog found at www.pensionriskmatters.com. A second blog found at www.goodriskgovernancepays.com focuses more broadly on investment risk governance for all types of institutional investors and their advisors and attorneys.
Source: http://feeds.lexblog.com/~r/PensionRiskMatters/~3/Ug6icgyRtL4/
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Inter Payroll unveil new changes
British payroll providers Inter Payroll have today announced a line-up of changes which they believe will help them maintain their position as one of the leaders in the UK for payroll services. Inter Payroll are well known for the high … Continue reading
Source: http://www.statepensionforecast.info/inter-payroll-unveil-new-changes-4/
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A plurality of villains
I am really hacked off at the Government for referring Mr Murdoch’s bid to pick up the other 60% of BSkyB�to the Monopolies Commission. This kicks the issue into the long grass for a couple of years which is just what Rupert wanted and just what we didn’t need. The argument for blocking the bid [...]
Source: http://henrytapper.com/2011/07/12/a-plurality-of-villains/
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