Pensions in 2020 - who would've thought?

Back in 2007, I bought a small note book with a plan to record my thoughts and ideas. Sadly, the novelty wore off after a few entries. Whilst clearing out the other day, I came across it and although it was a bit embarrassing to read my attempts 13 years on they have mostly stood the test of time. It wasn't all about pensions by any means, but the one transcribed below was:

"10/06/2007

The opening talk at the Pensions Convention this week was about pensions in 2020. Stewart Ritchie (President of the Faculty) correctly (in my view) said that the focus is going to be on the individual. However, he was still very focussed on pensions in isolation. As there is a move to individual provision (choice/individual plans/flexibility etc) the pensions/non-pensions distinction will fall away. Another reason is that the retirement /non-retirement distinction will also fall away. Someone suggested that we should talk about "retirement" rather that "pensions". I disagree - we need to think more broadly: wealth management perhaps?

I agree with the observation that there is scope for actuaries to operate in the independent financial advice arena - I just don't see any evidence that we are positioning ourselves. I would like to explore this. Perhaps I should write a letter to the Actuary!!

The other observation is that Ritchie's slide assumed a position of wealth (+ve net assets) rather than debt. Harking back to my first entry [maybe I'll post that one day!], in order to make any discussion relevant (and any financial plannning tools and advice for that matter) the issue of debt needs to be considered.

I'm not sure how I can get more involved. Possibilities include:

1. Looking at what is already available from IFAs
2. Developing my thoughts (likely to be around an internal tool)
3. seek involvement in an Institute working party "

Short and sweet and still relevant. Stewart Ritchie's thoughts were headed in the right direction (and still are), but change has been at a slow pace and the actuarial professsion may have missed out on opportunities to take a lead in the meantime.

Sadly, I failed to explore the possibilities. I wonder what might've happened if I had?