Pension History

There’s nothing like a review

In February 1996, pensions professionals were working out how to implement a new regulatory framework. The Pensions Act 1995 had been introduced with general support following a comprehensive review of UK pensions law and practice, and was gradually being brought in...

A New Start

On New Year’s Day 1909, the first British old age pension funded out of general taxation became payable. Well over 600,000 people were expected to be eligible.

Pension by-ways

The archives of the Pensions Archive Trust contain unexpected insights into our pensions past. Take for example our collections relating to nurses’ pensions. In 1887, with active encouragement from Florence Nightingale, Henry Burdett, who was the secretary to the...

The Anniversary Waltz

In November 2021, the Pensions Management Institute celebrated its 45th anniversary. All anniversaries prompt reflection on the past and thoughts about the future, but to pensions professionals, industry anniversaries hold particular fascination. Not only can we see how much the pensions landscape has changed, but we can also see how the same themes and solutions persist in changing times.

New Beginnings

The Association of Consulting Actuaries was formed over 70 years ago. Its evolution was documented in a short history of the Association, written by Ron Abbott and published in October 1991 to mark its 40th anniversary. The document appears in PAT’s archive collections.

Going back to school

September’s Pensions Awareness Week is the 10th anniversary of a campaign to encourage everyone to get to grips with retirement savings. Although not a new idea, pensions education has never been needed more. Most underestimate the savings needed to enjoy a comfortable retirement and may have wholly unrealistic expectations about what can be provided by the State and minimal auto enrolment savings.

Matters Military

The first day of the battle of the Somme, one of the bloodiest of the First World War, was on 1 July 1916. The pension treatment of servicemen and dependants in that and other conflicts is an interesting topic, and the Pensions Archive Trust with other national collections contains much relevant material, ranging from lists of employees on war service and correspondence regarding their pension contributions to much earlier attempts to support those who needed help.

The stirrings of revolution

In June 2005, the Pensions Regulator’s second Code of Practice came into force. Dealing with Notifiable events, it followed hard on the heels of the first Code, issued three months earlier.