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Swotting up on Pensions
lindens
Posts: 2,870 Forumite
I will start a new job next month and will be working with Pensions. I don't know much about them but would like to fill in some of the gaps in my knowledge between now and then. Any ideas of what to read to do this?
I was thinking getting some of the broadsheet newspapers on whatever day is their finance day (Guardian, Telegraph??) and wondered if there were pensions magazines that i could read in the library that would inform me of current goings-on in the world of pensions.
Hope you can help!
I was thinking getting some of the broadsheet newspapers on whatever day is their finance day (Guardian, Telegraph??) and wondered if there were pensions magazines that i could read in the library that would inform me of current goings-on in the world of pensions.
Hope you can help!
You're not your * could have not of * Debt not dept *
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in what capacity will you be working with pensions?0
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Telegraph has separate business section every day + a personal finance section Sat & Sun.
However, they're written by journalists, not people working in the field. NOT a good resource IMO, YMMV.It only takes one tree to make a thousand matches, it only takes one match to burn a thousand trees. As well, the cars are all passing me, bright lights are flashing me.
Johnny Was. Once.
Why did he think "systolic" ?0 -
I'd take a look at engaged investor, which is pensions information for pension companies. If you subscribe to the email you get a weekly digest of events in pensions, which is good for keeping up with legislation changes, big buyout deals etc.0
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However, they're written by journalists, not people working in the field. NOT a good resource IMO, YMMV.
The media dont understand pensions. They miss the real issues and pick on nothing issues or just get things mixed up. Usually because pensions make a good scaremonger story to sell copies.
The CII do some good manuals on pensions. Study book for R04 will give you basic knowledge. J05 will go further in depth in retirement income options and AF3 will go cover more unusual or more in depth knowledge. (R04 would do the trick if you want a very good understanding of legislation, generics and different types of mainstream pensions).I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
The media dont understand pensions. They miss the real issues and pick on nothing issues or just get things mixed up. Usually because pensions make a good scaremonger story to sell copies.
As I said dunstonh they're journos. Try getting them to explain the splits in a DB deferred with up to 8-9 different tranches with different reval & indexation rates. Then toss a Barber period on top of that. Plus A Day, plus any scheme specific changes.
Keeps me in a job I suppose, constantly putting right what my underlings are doing & what previous ones have done.It only takes one tree to make a thousand matches, it only takes one match to burn a thousand trees. As well, the cars are all passing me, bright lights are flashing me.
Johnny Was. Once.
Why did he think "systolic" ?0 -
on the software side
Defined benefit or defined contribution schemes* ? Or both ? Or hybrid ?
Different skills & knowledge required. To do them anyway, to programme (check out my age & nationality with that spelling
), maybe not.
* aka final salary or money purchase.It only takes one tree to make a thousand matches, it only takes one match to burn a thousand trees. As well, the cars are all passing me, bright lights are flashing me.
Johnny Was. Once.
Why did he think "systolic" ?0 -
If you want background then you could have a look at the Trustee Toolkit.
https://trusteetoolkit.thepensionsregulator.gov.uk/arena/index.cfm
It's designed for Trustees, but there's nothing as far as I know to stop anybody using it.
What sort of software? There are packages used by pensions administrators that can do everything from benefit illustrations, calculations using the actuarial factors, though to payroll. Then there's the actuarial stuff.
Random article here as a starting point (from 2010). My old firm uses Profund, or did anyway.
http://www.pensionsworld.co.uk/pw/article/pensions-admin-software-concentrated-solution-1233991"Things are never so bad they can't be made worse" - Humphrey Bogart0 -
In the days when I visited the public library every week, I found the monthly magazine "Money Management" a useful source on all sorts of money matters.Free the dunston one next time too.0
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