Allan C Martin
A pensions actuary with over 25 years varied, practical and commercial experience; A frequent public speaker and comfortable presenter; A keen problem solver and communicator with awareness of and interest in other disciplines;
Actuary
Trustee
TPAS Adviser & Director
Myers Briggs -E S T J;
Belbin - resource investigator.
MBA studies
Education/Employment
1967 - 1972 Bearsden Academy, Glasgow
1972 - 1976 Heriot Watt University; BSc (2:1) Mathematics
1977 - 1984 Actuarial Superintendent, FS Assurance (now Britannic Life), Glasgow
1982 Fellow of the Faculty of Actuaries
1984 - 1999 Partner, Hymans Robertson
1999 - 2002 Director, PricewaterhouseCoopers
2002 - Director, ACMCA Ltd
Professional Work
Faculty & Institute of Actuaries
- Pensions Guidance Committee
- Current Issues Committee
- Damages Working Group
- Faculty Council
Association of Consulting Actuaries
- Damages Reversions & Divorce Committee (Chairman)
- SSAS Committee
Active contributor to, National Association of Pension Funds, Pension Management Institute, Society of Pension Consultants, the Association of Pension Lawyers and The Pensions Advisory Service.
Expertise/Case studies
A client business transfer involved a practical problem under TUPE. Small numbers and pension scheme differences required some lateral thinking. My solution was to avoid the traditional (and disproportionately complicated and expensive) transfer of pension assets and liabilities - with both sides agreeing enhanced benefits in the old schemes. Identification of the necessary end result and the underlying employer powers was key.
Adviser to the Social Security Committee. In 1997-98 I advised the (select) committee on the new legislation on pensions and divorce. This involved direct experience of the parliamentary process, political debate, lobby power and access to the House of Commons. Whilst posing challenging questions was required, the whole exercise was most notable for having to constantly deal with different organisation, personal and political agendas.
Independent trusteeship. Following 1990 legislation, I initiated, developed and ran this non-actuarial function. This involved "switching hats" from being an adviser to the trustee decision maker - receiving advice from lawyers, investment and administration managers and most interestingly (rival) actuaries. Communications and employee counselling were priorities. Lilley plc and Scottish Pride both involved £1m wind up budgets, although many smaller cases provided greater difficulties.
FRS17. I positioned myself as a technical expert to ensure maximum exposure to the new regime through work for the ASB and the accounting and actuarial professions. This facilitated access to senior industry figures, client and non-client FDs and plcs. Numerous speaking engagements were undertaken.
Litigation. I have initiated formal legal action and therefore fully appreciate the implications of poor advice, professional failings and bad decisions. The personal liability of trustees, the importance of independent professional advice and proper minutes/accountability is fully appreciated. I have also provided expert opinions and evidence in court and hence appreciate the discipline of cross-examination.
Pension scheme wind up cases have been a major area of activity for ongoing solvent employers as well insolvent companies. Removing investment risk, unwinding self-investment, ensuring equitable transfer values and providing member advice have been common features. Liaison with existing and specialist advisers has added to my list of "war stories" and appreciation of the difficulties which can and usually do arise.
Equity and bond investors and chargeholders have a key interest in company finances and commitments. When difficulties arise management is frequently handed to a company doctor. I would contend that a "pensions doctor" is needed to take an independent view of the pension costs, investment risks, employee relations and potentialemployer capital debts.. In my experience pension scheme costs and risks are frequently under estimated or ignored.
Personal
Date of birth; 3rd November 1955. Married to Judith and father of three sons, Douglas, Jamie & Ewan.
Interests
Hill walking (completed ascent of all 284 munros in Scotland in October 2008), ski-ing (on snow and water), skating, cycling and general keep fit (having given up trampolining, ski jumping and running marathons). Occasional tree surgeon, gardener and keeper of a 250 year old house.
