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Pensions for Breakfast goes down well with industry experts

Quantum Advisory was delighted to welcome around 40 peers from the pension industry at our latest Pensions for Breakfast seminar on 8 November.

Once again taking place at the Celtic Manor Twenty Ten Clubhouse, the event, aimed at like-minded professionals in South Wales and the South West, covered topics including how Brexit is affecting investment market performance, inflation and possible repercussions from the budget.

Providing an annuity market update, our Senior Consultant and Actuary Simon Hubbard, who has ten years in the industry, discussed the latest on defined benefit (DB) and defined contribution (DC) schemes. Simon explained the developments in the DB buy-out market as well as providing tips on how DB schemes can get themselves ready to buy-out in the future and the best way to do this including prices and timescales. He also examined how the DC annuity market is reacting following the freedoms brought in for DC arrangements in 2015.

Quantum’s Investment Consultant, Jordan Griffiths, looked into how investment markets have performed over the last 12 months highlighting the UK’s weaker GDP and high inflation. Jordan also questioned how events such as Brexit, the US Mid-term elections and global political tensions may impact the pension industry, citing caution and risk management as key going forward during these uncertain times.

Consultant Ryan Parsons delivered a roundup of the fundamental pension issues such as the Pension Protection Fund (PPF) and life expectancy. Ryan, who is currently in the process of completing the actuarial Fellowship exams, said: “The Continuous Mortality Investigation has published its new mortality tables which, contrary to the ONS report suggesting improvements in life expectancy have halted, is looking likely to push pension liabilities up by around 1%-2% on average. It seems that pension scheme members are experiencing different life expectancies to the population as a whole?!”

Stuart Price, Partner and Actuary at Quantum Advisory, said of the event: “Once again we had a great turn out to our Pensions for Breakfast seminar. We listen to what our peers want to know and try to explain this in a way that everyone will understand. Similarly, we like to look forward and see what aspects may affect the pensions industry in the future and what we should be doing to prepare ourselves now. Thank you to Simon, Jordan and Ryan and to everyone who attended. We look forward to seeing you all again soon.”