Report calls for more schemes to promote partial transfer option

first_imgMeanwhile, a survey by LCP of over 100 occupational pension schemes revealed that 22% of schemes now offer a partial transfer option, up from about 15% in 2017. It also found that partial transfers were not the preserve of large schemes: two-thirds of the schemes in the survey offering partial transfers had assets under £500m.However, where partial transfers have been offered, initial take-up has often been low, partly because this option needed to be effectively communicated in a clear and timely way.Ford’s UK pension scheme last year announced plans to introduce partial transfers.“Our research shows that growing numbers of schemes are offering partial transfers, but many more could make this option available to their members.” Jonathan Camfield, partner at LCPJonathan Camfield, partner at LCP and co-author of the report, said: “Our research shows that growing numbers of schemes are offering partial transfers, but many more could make this option available to their members. “Although there are technical and practical issues which schemes would need to address, large and small schemes have already demonstrated that these can be overcome.”He added that greater access to partial transfers would also benefit schemes by reducing risks in the DB transfer process.According to the report, a benefit of partial over full transfers for schemes was that partial transfers would reduce overall liabilities but in a way that would minimise any risk of a challenge from (ex) members who might otherwise blame the scheme if things worked out badly post-transfer.  “For the employer,” the report added, “current and former employees are likely to welcome the new flexibility without them being exposed to the risks associated with a full transfer; Pension Protection Fund levy bills and the cost of de-risking are also likely to be reduced as the scale of scheme liabilities falls as a result of partial transfers.” The report’s authors called on government and regulators to encourage schemes to offer the option of a partial transfer. The Financial Conduct Authority is currently consulting on the issue. Defined benefit (DB) pension schemes should proactively consider introducing partial transfers as an option for members, according to a policy paper from mutual insurer Royal London and consultancy LCP. According to the research report, entitled “Best of both worlds?”, an estimated 500,000 members had already transferred well over £60bn (€66bn) out of DB schemes since April 2015, when the new pension freedoms were introduced. The vast majority had given up all of their rights in the DB scheme in exchange for a lump sum transfer into a defined contribution (DC) arrangement.“But for some individuals, such as those whose entire lifetime pension right lie in a single DB scheme, a better option might be a partial transfer, combining some continued level of guaranteed income from the DB scheme with a more modest transferred lump sum,” the authors said.A Royal London survey of around 350 financial advisers found that while some clients who might have taken full transfers might in future only take partial transfers, there would be many others who did not take a transfer at all but who would now be likely to consider a partial transfer.last_img read more

When Heartbreak Hits: 10 Reasons to be Grateful for Grief.

first_img Share 60 Views   no discussions Sharing is caring! Share With all heartbreak comes great grief . There are many ways we can grieve and we all have different ways of expressing it.Some of us get busy and distract ourselves from the pain. Some of us find it hard to do anything at all. Or, we swing in-between.When we grieve in a healthy and supportive way, we meet the change that is occurring in our life head on.Change is our biggest teacher because from it we learn how we best want to live our lives.Use your heartbreak to become aware of your opportunities to grow, to love yourself more deeply, and get clearer about what you want. Even with the pain, heartbreak can be a gift and something to be grateful for. Here are 10 reasons to be grateful for grief in order to peacefully move on:1) Grief supports us to let go. There is a reason why grief exists. It is a natural and important part of letting go. If we judge our grief as silly, stupid, or wrong, it magnetizes more pain. Allowing time to grieve creates space for something new and better to come into our life.2) Grief allows a release. Like a cup that is overflowing, we need to empty our reserves. Frozen grief is when the water in the cup turns to ice and we are unable to move forward productively, damaging our spirit. Yet, healthy grief is necessary to release the past and move on. 3) Grief creates closure. Without grief we wouldn’t be able to make peace with our past and close the door. Hanging on to the past by denying our grief keeps us from making the best of our lives. When we give ourselves the space and time to grieve we are initiated gently and ever so lovingly to walk through a new door.4) Grief supports integration. Integration means to become whole, entire, or complete as if a fragment that was left in the past is placed back into ourselves so that we can be made whole. The integration that comes with grief allows us to restore. It takes some time to balance. Like a computer, our body needs to download updated programs and recalibrate in order to refresh and boot up anew. 5) Grief allows us to not have to make sense of it all. Attempting to make sense of your recent heartbreak may leave you feeling confused, overwhelmed or helpless. Rather than try to make sense of it or give it meaning (which could drive you crazy in the end) realize that it’s not necessary at this time to understand it. Give your mind a break from trying to figure it all out, let yourself grieve and things will be much easier for you in the end. 6) Grief heals.  In the healing process that comes with grief, we let go of the pain from the past and come to know in our heart of hearts our life is of purpose. After a healthy grieving time, you will feel lighter or even anticipate with enthusiasm the new direction you are headed. When you grieve with the intention to heal you will ultimately feel an opening in your heart like the sun coming out from behind the clouds.7) Grief teaches us about ourselves. The pain of heartbreak allows us to see how we respond to change. By looking closely at how we respond to change we can learn how to best meet change when it comes again. We grow, we evolve and we come to know ourselves more deeply, gaining clarity about the kind of life and future relationships we want to create. Using every experience, even the painful ones, as a learning opportunity is how we transform and evolve. Go within and use this precious time to connect back to the most important person in your life – YOU!8) Grief brings acceptance. By accepting our grief and allowing it to be present, we give ourselves permission to feel however we feel. The anger, shock, anxiety and tears that we feel when we endure loss is part of the human experience. When heartbreak happens we really have no choice in the matter. Preference takes a back seat and we learn a powerful tool that empowers and strengthens our daily life: To accept what is. 9) Grief can set you free. When sudden change occurs in your life, you are asked to stretch beyond your usual limit at rapid speed. As if from nowhere, you may find yourself questioning not only who and where you are, but where you are going. When change happens suddenly, it does so to break you free of your habituated nature, exploding your reality so that you can wake up to the new and go to the next level in yourself.10) Grief connects us to others.  After going though a painful experience and getting to know grief intimately, we develop deeper compassion for others’ pain. We have more tools, more understanding, and are more able to help. Our grief offers us the gift of being of service to others, connecting us all through the common pain we share.So feel what you feel without dramatizing it or indulging it and allow yourself to grieve. Know that if you give yourself some time and space, reach out for support and counseling if you need you will come out of it a better person. By Lynn Zavaro, author of The Game of You™center_img Tweet LifestyleRelationships When Heartbreak Hits: 10 Reasons to be Grateful for Grief. by: – May 5, 2011 Sharelast_img read more

Is Zack Wheeler the second coming of A.J. Burnett?

first_imgThere is a third season beyond that which is known to man.It is a season as vast as space and as empty as a Gatorade cooler after a walk-off dinger. It is the middle ground between the Fall Classic and spring training, between old-school and new-school. This is the dimension of signings. This is … the hot stove season.  Oh, and even weirder: Dec. 6 is the anniversary of Burnett signing with the Blue Jays, while Wheeler signed on Dec. 4 with Philadelphia. Burnett left an AL East team for an AL East rival. Wheeler left an NL East team for an NL East rival. Both guys are 6-foot-4. Burnett was drafted by the Mets, Wheeler was drafted by San Francisco — then traded to the Mets. Is your mind blown yet? Have you decided on the red or the blue pill?Burnett and Wheeler comparisons aside, it was a smart signing to bring Wheeler to Philly. GM Matt Klentak did a poor job supplementing the pitching staff last offseason, instead deciding to rebuild the lineup with four big-time acquisitions: Bryce Harper, Andrew McCutchen, J.T. Realmuto and Jean Segura. With Joe Girardi at the helm, this team is ready to win now, which means signing Burnett was a no-brainer.I mean, Wheeler. Someone hit the “Twilight Zone” music, because sometimes things in baseball go beyond comprehension, and today we have to consider the following question: is Zack Wheeler just A.J. Burnett reincarnated?MORE: Wheeler shouldn’t be last piece of the Phillies’ offseasonBurnett is alive and well, after all, so maybe not. But after posing the question “Where have I seen Zack Wheeler before?” the answer was clear and convincing.Wheeler is Burnett. Burnett is Wheeler. Finkle is Einhorn. Rosebud was the name of the sled. Maybe there’s some “Space Jam” thing happening here, where Wheeler siphoned Burnett’s talent through a baseball. (“Base Jam,” anyone? Frantically googling “How to sell movie rights.”)The comp isn’t meant to be disrespectful or derogatory; after all, Burnett was a very productive pitcher for a very long time in MLB, even through his inconsistencies. It started with the “eye test.” Anecdotally, there was something satisfyingly maddening in watching both guy’s starts: Wheeler, like Burnett, boasts filthy, wipeout stuff when on. Both guys had stretches where they look like bona-fide aces; both guys also had stretches where they look like they forgot how to pitch. Both guys also dealt with injuries. But beyond the eye test, we have to go to the tangible evidence, and the similarity between numbers through their Age 29 seasons is just eerie:Burnett: 155 games/152 starts, 989 1/3 innings, 3.77 ERA, 3.72 FIP, 7.9 K/9, 2.09 K:BB, 1.287 WHIP, 13.8 bWAR/18.6 fWARWheeler: 126 games/126 starts, 749 1/3 innings, 3.77 ERA, 3.71 FIP, 8.7 K/9, 2.69 K:BB, 1.294 WHIP, 9.7 bWAR/12.6 fWARConsider this, as well: Burnett signed with the Blue Jays at Age 29 on a five-year, $55 million deal, a bit cheaper than Wheeler’s five-year, $118 million deal. But Burnett was with the Blue Jays for three seasons before opting out, and here are his numbers: 522 2/3 innings, 3.94 ERA, 3.82 FIP, 9.0 K/9, 1.284 WHIP. After opting out, he got himself big money from the Yankees, signing a four-year, $82.5 million deal.RIVERA: Braves are busy, but work shouldn’t be done yetAnd here are Burnett’s age 26 through 28 seasons, before signing with Toronto: 3.61 ERA, 3.26 FIP, 1.247 WHIP, 8.5 K/9, 112 ERA+, 332 strikeouts.Note: It’s somewhat incongruous to use those same three seasons for Wheeler considering he missed two seasons because of injury, but for comparison’s sake, here are the last three years for Wheeler before he signed with Philadelphia:3.77 ERA, 3.71 FIP, 1.295 WHIP, 8.9 K/9, 98 ERA+, 447 strikeouts.last_img read more