V-FM: The Pensions Podcast

V-FM Pensions #142: SuperRatings' Kirby Rappell

In this episode of V-FM Pensions, hosts Darren and Nico chat to SuperRatings' Kirby Rappell.
SuperRatings has been conducting value for money assessments in Australia for 17 years, starting out as the first firm dedicated to super fund research.
We hear from Kirby about how the Aussie's do V-FM and look at learnings and insights that could benefit UK thinking.
And we discuss the Pound for Pound initiative that SuperRatings has been leading with a number of large UK schemes.

V-FM Pensions #141: A CDC geek out with WTW's Simon Eagle

In this episode of V-FM Pensions, hosts Darren and Nico chat to Willis Towers Watson's Simon Eagle. Simon has been instrumental in the development of CDC in the UK, being the scheme actuary for the Royal Mail CDC scheme.
We chatted through the evolution of CDC in the UK, the original ideas behind defined ambition, the introduction of the Royal Mail scheme, and what next for CDC, including retirement-only CDC. We also discussed the challenges of introducing retirement-only CDC and how some of these challenges can be addressed in the context of how people turn their pension pot into a retirement income.
We found out how Simon got into pensions and, of course, what value for money means to him.
 

V-FM Pensions #140: Happy New Year!

Happy New Year to all our listeners!
In this episode of V-FM Pensions, hosts Nico and Darren welcome 2026 in what will be (another) busy year for pensions.
As well as chatting about the festive season (and Nico’s house fire - don’t worry all ended up ok!), we take a look at what to expect in 2026... and have an impromptu discussion about the Pensions Schemes Bill and Fiduciary duty among a host of other things.

V-FM Pensions #139: Budget 2025 reaction

In this episode of V-FM Pensions Nico and Darren (slightly croaky and end-of-year tired) chat glow-in-the-dark dog walks, North London derby emotions and the Pensions Expert Annual Conference at Pennyhill Park… before diving head-first into the Budget and the chaos that surrounded it.
We unpack Darren’s recent comment piece in Pensions Expert, the OBR leak that turned out to be more cock-up than conspiracy, and why pre-Budget “kite flying” left real people scrambling over tax-free cash decisions. From ISA tweaks to salary sacrifice caps and frozen tax thresholds, we ask what any of this says about trust, growth and whether the government actually has a story to tell.
We also loop back to interviews with three of our World Pensions Summit guests (Tina Fordham, Amlan Roy and Sonja Laud) and link the Budget madness to the bigger themes of volatility, broken forecasting and the end of the “great moderation”.

V-FM Pensions #138: Maurits van Joolingen from Ortec Finance

In this episode of V-FM Pensions, hosts Darren and Nico chat to Maurits van Joolingen, Managing Director Climate Scenarios and Sustainability, at Ortec Finance.
This is part of a series of episodes recorded at the World Pensions Summit in early November. A proper climate and scenario analysis geek out!
We also discuss the news covering: the Budget, the state pension triple lock, the FCA pension scheme's investments in UK assets (or lack of), and Smart Pension landing the £580m WS stakeholder pension scheme.
 

VFM Pensions #137: Nordea's Eric Pedersen

In this episode of V-FM Pensions, hosts Darren and Nico chat to Nordea's Head of Responsible Investment, Eric Pedersen. This is part of a series of interviews recorded at the World Pensions Summit.
The central tenet of Eric's argument is true decarbonisation requires investing in and engaging with high-emitting sectors rather than divesting from them. Nordea have a created a Climate Transition Engagement Fund that targets companies demonstrating credible pathways to reduce emissions, supporting practical, real-world impact over superficial portfolio footprint cuts. Eric highlights how pragmatic engagement and long-term stewardship can deliver both climate progress and competitive returns.
We also take the opportunity to catch up on the latest news, discussing the recent LSE/FTSE letter to the Chancellor begging for pension funds to invest in UK equites and also talk a bit about salary sacrifice and Budget 2025.

V-FM Pensions #136: LCP's Amlan Roy

In this episode of V-FM Pensions recorded at the Pensions and Investments World Pensions Summit, hosts Darren and Nico chat to economist and demographic expert, Dr Amlan Roy.
We talk to Amlan about why demographics is really about how people live, work and spend across their whole lives, and what that means for pensions and markets right now, not just in 30 years’ time.
We cover micro pensions for gig and informal workers, why emerging markets are central to future growth, and how location can make a massive difference to retirement costs.
Amlan explains why scenario-based planning beats traditional models, highlights six sectors with demographic tailwinds, and tackles the big value-for-money and fairness questions: how much return should we give up for sustainability, and is it time to rethink promises to older generations?

V-FM Pensions #135: L&G Asset Management's Sonja Laud

In this episode of V-FM Pensions recorded at the World Pension Summit, hosts Darren and Nico chat to L&G Asset Management CIO, Sonja Laud.
Sonia reprises her opening keynote session giving insights into how the investment universe is evolving, picking up on the key theme of the Summit: Resilience in the age of uncertainty. Her key message... prepare, don't predict! 
 

V-FM Pensions #134: A quick chat with geopolitical strategist, Tina Fordham

Hot off the press from the Pensions and Investments' World Pension Summit in The Hague, hosts Darren and Nico chat to geopolitical strategist, Tina Fordham.
It's an understatement to say there is a lot going on in the world right now that affects pension fund investors... but we hear the latest from Tina as to what's going on, including quick-fire reactions to the recent US local elections.

V-FM Pensions #133: To CDC or not CDC, that is the question...

In this episode of V-FM Pensions, hosts Darren and Nico take a deep dive into the Government's proposals for 'at retirement' only CDC. What is the Government proposing and will it become a new norm of pension provision? 
 
We also discuss a few news items that have been on our list to cover, including: the sale of Cushon by Natwest, the consultation on professional trustee companies and recent ABI stats on investment in private markets.