Henry Tapper
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Henry Tapper
@henrytapper.bsky.social
Pension Plowman and Glover
We shouldn't have deficits , we shouldn't have surpluses - we won't with CDC! I hope that people will start making the link between over-funded DB pensions and under-funded workplace pension and look at the CDC pension as a way to go forward
We shouldn’t have deficits , we shouldn’t have surpluses – we won’t with CDC!
The headline run by the FT out of the maligned OBR’s report on pension is that only £2.2bn of the £160bn surplus capital in UK DB pensions is going to be drawn down by companies from the occu…
henrytapper.com
November 29, 2025 at 6:32 AM
I hope that people will start making the link between over-funded DB pensions and under-funded workplace pension and look at the CDC pension as a way to go forward
We shouldn’t have deficits , we shouldn’t have surpluses – we won’t with CDC!
The headline run by the FT out of the maligned OBR’s report on pension is that only £2.2bn of the £160bn surplus capital in UK DB pensions is going to be drawn down by companies from the occu…
henrytapper.com
November 29, 2025 at 6:23 AM
We shouldn’t have deficits , we shouldn’t have surpluses – we won’t with CDC!

The headline run by the FT out of the maligned OBR's report on pension is that only £2.2bn of the £160bn surplus capital in UK DB pensions is going to be drawn down by companies from the occupational pensions they…
We shouldn’t have deficits , we shouldn’t have surpluses – we won’t with CDC!
The headline run by the FT out of the maligned OBR's report on pension is that only £2.2bn of the £160bn surplus capital in UK DB pensions is going to be drawn down by companies from the occupational pensions they sponsor for their staff. That 's about 1,4% of the amount that if surpluses were fixed and trusted and not pledged to insurers to close down pensions, would be expected to be back in the British economy.
henrytapper.com
November 29, 2025 at 6:20 AM
The Greta Garbo Budget - a PP discussion next Tuesday henrytapper.com/2025/11/28/t... Following the Budget on Wednesday 26th November 2025 we will be holding another “Round Table” debate on the Chancellors announcements…Is she holding on by her “fingernails”?
The Greta Garbo Budget – a PP discussion next Tuesday
Steven Goddard CEO Pension Playpen Coffee Morning – The Greta Garbo Budget….A discussion! CPD included Type -Online When – Tuesday 2nd December 2025 at 10:30am You are cordially i…
henrytapper.com
November 28, 2025 at 1:20 PM
The Greta Garbo Budget – a PP discussion next Tuesday

Steven Goddard CEO Pension Playpen Coffee Morning - The Greta Garbo Budget....A discussion! CPD included Type -Online When - Tuesday 2nd December 2025 at 10:30am You are cordially invited to attend our next Coffee Morning event. Following the…
The Greta Garbo Budget – a PP discussion next Tuesday
Steven Goddard CEO Pension Playpen Coffee Morning - The Greta Garbo Budget....A discussion! CPD included Type -Online When - Tuesday 2nd December 2025 at 10:30am You are cordially invited to attend our next Coffee Morning event. Following the Budget on Wednesday 26th November 2025 we will be holding another "Round Table" debate on the Chancellors announcements...Is she holding on by her "fingernails"?
henrytapper.com
November 28, 2025 at 1:18 PM
If you want to use enterprise as an alternative to employer do so, very few SME’s do not struggle as they strive to be enterprising. It is their enterprise that will bring the lasting growth Britain needs and the Chancellor wants.
Backbone of Britain: UK SMEs forgotten in the Autumn Budget- say accountants
I agree with this blog though it’s not by me. Lucy Cohen, founder of accountancy business Mazuma and President of the Association of Accounting Technicians, says the Autumn Budget has left SM…
henrytapper.com
November 28, 2025 at 12:48 PM
Backbone of Britain: UK SMEs forgotten in the Autumn Budget- say accountants

I agree with this blog though it's not by me. Lucy Cohen, founder of accountancy business Mazuma and President of the Association of Accounting Technicians, says the Autumn Budget has left SMEs out in the cold this…
Backbone of Britain: UK SMEs forgotten in the Autumn Budget- say accountants
I agree with this blog though it's not by me. Lucy Cohen, founder of accountancy business Mazuma and President of the Association of Accounting Technicians, says the Autumn Budget has left SMEs out in the cold this winter. “Small businesses keep Britain running, they are the backbone of our nation, yet they have been treated as an afterthought,” said Lucy.
henrytapper.com
November 28, 2025 at 12:44 PM
In its " Hyperscale Build Race" - can AI benefit from clean energy? henrytapper.com/2025/11/28/_... am worried that the hyperscale build race will by-pass clean energy. What is the “hyperscale”. Ironically AI tells me! Thx to Oliver Payne and Jordi Lopez Francesch for helping me
In its ” Hyperscale Build Race” – can AI benefit from clean energy?
I am worried that the hyperscale build race will by-pass clean energy. What is the “hyperscale”. Ironically AI tells me! The hyperscale market refers to the global ecosystem of extremel…
henrytapper.com
November 28, 2025 at 8:00 AM
I am pleased to see the Government taking a wise position on the distribution of the pension surpluses that proliferate up and down the company. William McGrath Steve Hodder
Penson Surpluses can now be “tapped” for staff’s best interests
From April 2027, well-funded defined benefit pension schemes will be permitted to pay surplus funds directly to scheme members over the normal minimum pension age where permitted by the scheme rule…
henrytapper.com
November 28, 2025 at 7:49 AM
No need to moan, pensions should kick start growth in Britain, not Govt. borrowing. henrytapper.com/2025/11/28/n... This looks like a bond market that is having a little more confidence in Reeves than it had a couple of months ago. Britain needs that if it is to see its books balanced.
No need to moan, pensions should kick start growth in Britain, not Govt. borrowing.
I spoke at the Pension PlayPen meeting on Tuesday ab0ut how our hour long meeting with a number of senior pension professionals on it, had failed to talk once about the opportunity the Budget gave …
henrytapper.com
November 28, 2025 at 7:40 AM
In its ” Hyperscale Build Race” – can AI benefit from clean energy?

I am worried that the hyperscale build race will by-pass clean energy. What is the "hyperscale". Ironically AI tells me! The hyperscale market refers to the global ecosystem of extremely large-scale data centers and the cloud…
In its ” Hyperscale Build Race” – can AI benefit from clean energy?
I am worried that the hyperscale build race will by-pass clean energy. What is the "hyperscale". Ironically AI tells me! The hyperscale market refers to the global ecosystem of extremely large-scale data centers and the cloud services they provide, built to offer immense and flexible computing power on demand. This market is dominated by major tech companies like Amazon Web Services…
henrytapper.com
November 28, 2025 at 7:35 AM
No need to moan, pensions should kick start growth in Britain, not Govt. borrowing.

I spoke at the Pension PlayPen meeting on Tuesday ab0ut how our hour long meeting with a number of senior pension professionals on it, had failed to talk once about the opportunity the Budget gave Rachel Reeves to…
No need to moan, pensions should kick start growth in Britain, not Govt. borrowing.
I spoke at the Pension PlayPen meeting on Tuesday ab0ut how our hour long meeting with a number of senior pension professionals on it, had failed to talk once about the opportunity the Budget gave Rachel Reeves to kickstart growth. It seems that so pre-occupied by the fiscal measures in the Budget , that we have lost sight on the capacity we now have to invest in our country.
henrytapper.com
November 28, 2025 at 5:39 AM
Coal Staff - why aren't we shouting from the rooftops this great news? henrytapper.com/2025/11/27/c... But the truth for the coal staff could be the truth for millions of British workers when we move to a pension system where people are invested in growth till the day they die
Coal Staff – why aren’t we shouting from the rooftops this great news?
I am very pleased that the Government has agreed to pay the surplus in this pension scheme to members. Well done Mark Walker and the investment team who have kept the coal workers inv…
henrytapper.com
November 27, 2025 at 6:46 AM
Coal Staff – why aren’t we shouting from the rooftops this great news?

I am very pleased that the Government has agreed to pay the surplus in this pension scheme to members. Well done Mark Walker and the investment team who have kept the coal workers invested in growth (mainly in equities). This…
Coal Staff – why aren’t we shouting from the rooftops this great news?
I am very pleased that the Government has agreed to pay the surplus in this pension scheme to members. Well done Mark Walker and the investment team who have kept the coal workers invested in growth (mainly in equities). This is a great victory for a long-term view on pensions, unconstrained by the liability driven approach elsewhere. Here is the good news from BCSSS...
henrytapper.com
November 27, 2025 at 6:40 AM
Salary Sacrifice Scrapped? Good for our OBR headroom - inconsequential to pensions. henrytapper.com/2025/11/27/s... Little to moan about; let’s get on with the job in hand and let the professional whingers moan away. 2029 is a long way away and there is much to do in the meantime.
Salary Sacrifice Scrapped? Good for our OBR headroom – inconsequential to pensions.
We have scary headlines over the Pension Salary Sacrifice yesterday. But the announcement is not about 25 but 29. It’s a slight of hand by Bell and Reeves. It pleases markets but hurts no-one…
henrytapper.com
November 27, 2025 at 5:58 AM
Salary Sacrifice Scrapped? Good for our OBR headroom – inconsequential to pensions.

We have scary headlines over the Pension Salary Sacrifice yesterday. But the announcement is not about 25 but 29. It's a slight of hand by Bell and Reeves. It pleases markets but hurts no-one. Putting aside the…
Salary Sacrifice Scrapped? Good for our OBR headroom – inconsequential to pensions.
We have scary headlines over the Pension Salary Sacrifice yesterday. But the announcement is not about 25 but 29. It's a slight of hand by Bell and Reeves. It pleases markets but hurts no-one. Putting aside the number ( I think the number should be more like £4.5bn), we should be very wary of this being scary,
henrytapper.com
November 27, 2025 at 5:56 AM
Great news for those in PPF and FAS with no pension wage increase since 1997. What next? henrytapper.com/2025/11/27/g... I was at a conference of yesterday, watching Rachel Reeves make this announcement, I clapped. The Chair called for response -not a person mentioned this - I did
Great news for those in PPF and FAS with no pension wage increase since 1997. What next?
Andy Smith makes an important point. He is a top actuary from Barnet Waddingham and a spokesperson for a generation of wronged pensioners he does not belong to, but who holds professional responsib…
henrytapper.com
November 27, 2025 at 5:26 AM
Great news for those in PPF and FAS with no pension wage increase since 1997. What next?

Andy Smith makes an important point. He is a top actuary from Barnet Waddingham and a spokesperson for a generation of wronged pensioners he does not belong to, but who holds professional responsibility for…
Great news for those in PPF and FAS with no pension wage increase since 1997. What next?
Andy Smith makes an important point. He is a top actuary from Barnet Waddingham and a spokesperson for a generation of wronged pensioners he does not belong to, but who holds professional responsibility for being a proper actuary. Well there is plenty to be happy about and the PPF and FAS are showing the way for schemes that owe billions in unpaid increases to the pre-97 brigade who haven't got the right at least to some inflation linked pay (we hope backdated).
henrytapper.com
November 27, 2025 at 5:22 AM
Here is a video of yesterday’s discussion from the Pension PlayPen’s Coffee Morning (November 25th)
A look at this lunchtime’s Budget through the pension lens
Here is a video of yesterday’s discussion from the Pension PlayPen’s Coffee Morning (November 25th) Yesterday’s discussion focussed on an agenda put together by Professor Michael …
henrytapper.com
November 26, 2025 at 9:49 AM
A look at this lunchtime's Budget through the pension lens
A look at this lunchtime’s Budget through the pension lens
Here is a video of yesterday’s discussion from the Pension PlayPen’s Coffee Morning (November 25th) Yesterday’s discussion focussed on an agenda put together by Professor Michael …
henrytapper.com
November 26, 2025 at 9:49 AM
A look at this lunchtime’s Budget through the pension lens

Here is a video of yesterday's discussion from the Pension PlayPen's Coffee Morning (November 25th) Yesterday's discussion focussed on an agenda put together by Professor Michael Bromwich To hear what a large group of pension professionals…
A look at this lunchtime’s Budget through the pension lens
Here is a video of yesterday's discussion from the Pension PlayPen's Coffee Morning (November 25th) Yesterday's discussion focussed on an agenda put together by Professor Michael Bromwich To hear what a large group of pension professionals had to make of that, watch this video provided by the Pension PlayPen , whose coffee morning was hosted by Steve Goddard and conducted in conjunction with a group roughly called a "panel"
henrytapper.com
November 26, 2025 at 9:47 AM
If you’re a leaseholder – is there hope? If you are making money out of owning freeholds, does the budget fill you with horror?
A budget horror story for those exploiting freehold?
While you are having your breakfast, here’s a harrowing tale of trouble for leaseholders. If you’re a leaseholder – is there hope? If you are making money out of owning freeholds,…
henrytapper.com
November 26, 2025 at 8:11 AM
A budget horror story for those exploiting freehold?

While you are having your breakfast, here's a harrowing tale of trouble for leaseholders. If you're a leaseholder - is there hope? If you are making money out of owning freeholds, does the budget fill you with horror?
A budget horror story for those exploiting freehold?
While you are having your breakfast, here's a harrowing tale of trouble for leaseholders. If you're a leaseholder - is there hope? If you are making money out of owning freeholds, does the budget fill you with horror?
henrytapper.com
November 26, 2025 at 8:07 AM
Schroders are not here to run DB pensions out of town and into the hands of foreign owned insurers. They are here to make the next wave of investment in Britain happen. Richard Oldfield Schroders Financial Times
Schroders talk of the importance of transparent stock markets in the UK.
I am very pleased to see a story on the importance of our stock markets to our economic well-being. A couple of weeks back the London Stock Exchange organised a group of the CEOs of companies quote…
henrytapper.com
November 26, 2025 at 7:23 AM
Thanks to Gordon Aitken, I can bring you the views of someone who really understand List 2025 and what BPA insurers should do now.
What Gordon Aitken’s telling the insurers who bulk sell annuities
I read this and thought – this is what I want to know! Thanks to Gordon Aiken, I can bring you the views of someone who really understand List 2025 and what BPA insurers should do now. Note: …
henrytapper.com
November 26, 2025 at 7:16 AM