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‘Caution and risk management crucial during these uncertain times’

Around 50 pension and investment specialists attended Quantum Advisory’s latest industry update seminar at the Celtic Manor Twenty Ten Clubhouse.

The quarterly “Pensions for Breakfast” event for professionals in South Wales and the South West was held on 8 November and covered topics including how Brexit is affecting investment market performance, inflation and possible repercussions from the budget.

Providing an annuity market update, Senior Consultant and Actuary at Quantum Advisory Simon Hubbard, 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.

Investment Consultant at Quantum Advisory, 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.

Ryan Parsons, Quantum Advisory Consultant, delivered a roundup of the fundamental pension issues such as the Pension Protection Fund (PPF) and life expectancy.

Ryan said: “The Continuous Mortality Investigation has published its new mortality tables which, contrary to the Office for National Statistics (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. The event is also a great opportunity to network and we thank everyone who came.”

Quantum Advisory has offices in Amersham, Birmingham, Bristol, Cardiff, and London and provides pension and employee benefits services to employers, scheme trustees and members.

For more information about Quantum Advisory, please visit: https://quantumadvisory.co.uk.