David Davison

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David Davison

David Davison

@DavidJDavison

Pensions geek, charity pension adviser, golf nut and car fan. Enthusiastic and gregarious.

United Kingdom เข้าร่วม Nisan 2009
221 กำลังติดตาม190 ผู้ติดตาม
David Davison
David Davison@DavidJDavison·
@JohnRalfe1 @NicolaSturgeon @RishiSunak This continuing position is untenable given public sector moved to CARE in England & Wales in 2014 and in Scotland in 2015. Yet somehow the politicians in Scotland cling on to their final salary benefits at a cost of 75%. Nice work if you can get it! @scotfax
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John Ralfe
John Ralfe@JohnRalfe1·
See my latest @Telegraph piece: "Published accounts show the real annual cost of MSP pensions - 1/40th accrual, final salary & NRA of 65 - is a whopping 75% of salary. They make Westminster pensions look downright stingy. " telegraph.co.uk/pensions-retir…
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Eddie Pepperell
Eddie Pepperell@PepperellEddie·
I’m Eddie f***ing Pepperell.
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Pension Quality Mark
Pension Quality Mark@PQM·
Congratulations to the 3173 Group Pension Plan for renewing the Pension Quality Mark plus. PQM is awarded to workplace pension schemes that have good contributions, high standards of governance and encourage employees to save for retirement. @ThePLSA @3173Group
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David Davison
David Davison@DavidJDavison·
Looking forward to speaking at the Charity Finance Group @CFGtweets annual conference today. Lots of interesting things going on at the moment in pensions that impact charities. Hopefully be a good session👍
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John Ralfe
John Ralfe@JohnRalfe1·
Question is very simple You earn £x,000 with no pension. How much pay would you give up in exchange for a DB 1/60TH pension payable from SPA?
Doug@Mnsr_D_Heron

@pickfos @JohnRalfe1 @MikeOtsuka I’m not trying to pick holes, just to shape what the question John asks would be, if it was to be a definitive analysis and not the current gap between those who pay for it, those who have and want to keep it and those who own the policy that controls it.

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David Davison
David Davison@DavidJDavison·
@DougCERN @JohnRalfe1 Again this is likely to be linked to age. For example your overall employer contribution is 25% of salaries that’s an average which may be less than 10% for those in their 20’s and more than 40% for those in their 50’s / 60’s so there’s a generational cross subsidy.
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Doug
Doug@Mnsr_D_Heron·
@DavidJDavison @JohnRalfe1 Any view on how you could measure if the value to member is less than cost to employer?
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David Davison
David Davison@DavidJDavison·
@DougCERN @JohnRalfe1 The rate also greatly varies depending upon the age of the individual. A flat rate doesn’t work which makes it even more complicated.
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Doug
Doug@Mnsr_D_Heron·
@JohnRalfe1 What that misses @JohnRalfe1 would be your POV that the cost of accrual isn’t the ~23% LGPS employers pay but it should be the IAS19 ~65% that can drift in and out of reserve adjustments. That’s the technical bit that’s harder to land in the measurement of DB value by members.
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Spence & Partners
Spence & Partners@SpencePartners·
Good practice guidance for defined benefit (DB) transfers. The Pension Administration Standards Association (PASA) has released new guidance on DB transfers John Wilson goes through the main points in this blog - spenceandpartners.co.uk/insights/good-…
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Spence & Partners
Spence & Partners@SpencePartners·
Many thanks to @LothianPension, Strathclyde Pension Fund and The Scottish Public Pensions Agency (SPPA) for listening and understanding the issues and developing rules which will really help many organisations.
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David Davison
David Davison@DavidJDavison·
Very interesting article from entrepreneur and philanthropist Sir Tom Hunter on Scotland’s New economic strategy being ‘a wish list with no magic wand' insider.co.uk/news/new-econo…
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Laura Starkey
Laura Starkey@LauraStarkey·
God give me the confidence of a posh white dude with no specialist training arguing with an actual professor from Imperial College about vaccinations. #bbcqt #QuestionTime
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David Davison
David Davison@DavidJDavison·
@RandomKentGuy Next time I’m sick I think I’ll make sure I consult a philosophy graduate - not!! The sheer unfounded confidence was astounding. Could think of a few place he could put his sheets of paper!! #QuestionTime
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Some Guy in Kent
Some Guy in Kent@RandomKentGuy·
This poor bastard, he studied for years and dedicated his life to a cause - now has to endure this shit #bbcqt #QuestionTime
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David Davison
David Davison@DavidJDavison·
@JohnRalfe1 It happens to some extent already within the existing charge cap where ‘loyalty discounts’ are applied as pots build but not sure why the highest level of 0.75% needs to increase.
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.@ronlondoncon·
@JohnRalfe1 @Twitter It’s astonishing to see so many senior lecturers who may be leaders in their academic fields but have no idea about how pension funds are actually managed wrt interest rate and inflation hedging 🤦‍♂️
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John Ralfe
John Ralfe@JohnRalfe1·
Does this win a prize for today' most stupid @Twitter comment? #USS
Cyberbuild La@CyberBuild

@Sam_Marsh101 That's why #USS is now doing a major shift from stock to bonds investment. Their stock investmt team is doing too well, so they need to move to bonds (that are worth nothing) so that the actual value curve matches their prudence one. Ideologically-driven self-fulfilling prophecy.

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David Davison
David Davison@DavidJDavison·
@noremacnosila @NormaCohen3 @ucu Then the membership is unfortunately ill informed. You have to do a valuation every 36 months and it has to be finished within 15 months of that. You can do interim valuations but this has a cost - significant in the case of USS. Highly questionable what impact it would have.
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Dr Alison Cameron
Dr Alison Cameron@noremacnosila·
@DavidJDavison @NormaCohen3 @ucu You might have noticed that a lot of USS members dont acccept this. In propping up "the process" you are pitting yourself against much of the membership. Staff do not like to strike, but poor pay/pensions is rapidly ruining the standard of UK unis.
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Dr Alison Cameron
Dr Alison Cameron@noremacnosila·
I think we do understand. UCU membership includes academics who train people in finance and pensions. We have some exceptionally well educated members representing us, and many of the rest of us are highly numerate + there are better managed examples of DB schemes.
Norma Cohen@NormaCohen3

@noremacnosila @Sam_Marsh101 @UniversitiesUK @USSpensions #USS certainly handled comms badly. But there is almost no outcome that could have been agreed that would have satisfied members. The cost of making DB pension promises has skyrocketed since early 2000's and members need to understand that.

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Dr Alison Cameron
Dr Alison Cameron@noremacnosila·
@DavidJDavison @NormaCohen3 @ucu We have a Joint Expert Pannel, who showed how the valuation can be done better, but it's recommendations are being ignored. & the valuation date is rediculously provocative. So even within "the process" there is a LOT of room which is not being used.
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David Davison
David Davison@DavidJDavison·
@NormaCohen3 @noremacnosila @ucu Agree LGPS schemes generally well run but they use pretty much same funding process and had to face exactly the same funding issues. As Norma says it’s the only process! They are also different from USS in that the vast majority of staff in them are directly in the public sector.
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Norma Cohen
Norma Cohen@NormaCohen3·
@noremacnosila There is no doubt that @UCU members exceptionally intelligent & well educated. That does not mean they understand pensions. Name some better managed private sector DB schemes still open to future accrual, please.
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ค้นพบ

@JohnRalfe1 @NicolaSturgeon @RishiSunak @scotfax @Telegraph @thePLSA @3173Group @CFGtweets