In reply to pensions-based Government initiatives [UK Productive Finance being one] trustees often discuss in workshops, symposiums and conferences that the Government needs to explain its current position. However, it is rare that the event organisers actually invite the Civil Service, who could do that, to our events.
Instead, we go through a dance similar to that of the seven veils; the event organiser will remember that they know some one who knows someone who has the ear of someone in Government! On this flimsy connection we build up a statement of case [which could take some weeks] and by the time we have finished we will have found a Professional advisory firm that will be prepared to use their government connection to raise this at a more senior level.
A by-product of this mechanism is that one professional firm will now have superior knowledge on the said issue and they can begin another round of workshops, symposiums and conferences to explain away OR work on the new problem [after talking to the Government]; and so, our pensions industry magical merry go round continues from subject to subject.
Bearing in mind that we do not have the time to work our way through the chorography described above [possibly serval times in any three months] I raise the question: Why don’t we just invite the civil service to present the government initiatives on day one in our workshops, symposiums and conferences? It would save time, trustee frustration and probably fees!
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Question time: The expanding nature of fiduciary duty
