How does an uncertain world effect covenant reliability

Recent geopolitical events have had wide ranging economic impacts, including for defined benefit (DB) pension schemes, with many trustees navigating a period of significant uncertainty about how much their employer covenant will be impacted. However, at the same time they are being asked to reach increasingly firm views on key aspects of their covenant for the new DB funding regime. So how can trustees decide how reliable their covenant is when so much is uncertain?

History may not repeat itself but it certainly rhymes

I started my actuarial career in South Africa in the early 1990s, a time of change in both politics and pensions. 1994 heralded the first democratic elections in South Africa’s history but it also took place at a time when the defined benefit (DB) pensions landscape was undergoing a profound transition. Final salary schemes were closing at pace, and employers were transferring liabilities to insurance companies. Defined contribution (DC) pensions were on the rise, and with them, came a steady shift of risk away from employers and towards individual members.

The Real Risk in Life Modernisation

Life insurance is approaching a major transformation cycle. For decades, the sector has operated on highly stable, transaction-intensive platforms. Many of those systems are now reaching end of life. The engineers who built them have retired. The languages they were written in are increasingly rare. Maintenance costs are rising. Regulatory risk is growing and replacement is no longer optional. The question is not whether to modernise. It is how.

Pensions Perspectives with Decumulation debated

 

Lifestyle Actuary

Dalriada Trustees Limited (Dalriada), one of the largest providers of professional trustee services to pensions schemes in the UK, has today announced the appointment of Sarah Brough as a professional trustee.

Lights Camera Actuary

For the next few months Zoe Bolton will be talking to the senior actuaries in these firms, getting a brief insight into their career paths and visions for the future. This month Zoe interviews Shil Patel the UK Managing Director at Dynamo Analytics

Travelling Actuary

This month's Travelling Actuary takes us to the iconic Boston to experience New England at it’s very best.

Site Search

Exact   Any  

Latest Actuarial Jobs

Digital Magazine

LATEST EDITION - OUT NOW

Actuarial Post's Digital Magazine Issue 172
 
ROLE OF AI IN FINANCIAL REPORTING: HYPE OR REALITY
 
Click the image above to view. Click here to receive your future copies of our monthly magazine

Author Companies

Actuarial Jobs & News Feeds

Jobs RSS News RSS