V-FM: The Pensions Podcast

V-FM: The Pensions Podcast

The podcast from Darren Philp and Nico Aspinall talking all things pensions and investments.

Episodes

January 23, 2026 72 mins

In this episode of V-FM Pensions, hosts Nico and Darren chat to Kim Gubler. Kim wears many hats in the pensions industry, among them Managing Director of KGC Associates, President of PASA, and is an independent trustee Director of the Smart Pension mastertrust.

Another wide ranging conversation that, as well as talking about horses and pigeons (only on the V-FM podcast....), focuses on the importance of elevating administration to ...

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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...

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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 ...

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January 7, 2026 63 mins

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 ...

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December 5, 2025 74 mins

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...

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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...

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November 14, 2025 87 mins

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...

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November 11, 2025 60 mins

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 emer...

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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! 

 

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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.

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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 mar...

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In this episode of V-FM Pensions, hosts Darren and Nico chat to defined contribution and financial wellbeing consultant, Hymans' James Smith.

We spend a lot of the podcast focusing on James' blueprint for pensions reform - Retirement Reimagined - which is co-authored in a personal capacity with Alexandra Miles. We discuss and debate many of the ideas in the paper, including changes to the state pension, the creation of a Universal ...

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In this episode of V-FM Pensions, hosts Nico and Darren reflect on the Pensions UK's 2025 Annual Conference that took place in Manchester between the 14th-16th October.

In a surprisingly short episode (it's amazing how a hard stop for a meeting focuses the minds), as well as reflecting on the nature of the conference we discuss a few of the themes that made the news, not least the Pensions Minister's session with questions on manda...

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October 10, 2025 69 mins

In this episode of V-FM, hosts Darren and Nico chat to Pensions and Investments International News Editor, Sophie Baker. Sophie has had an amazing career in pensions journalism and also is Programme Director and Chair of the World Pensions Summit.

In an investment heavy episode, we discuss PGGM's recent major portfolio overhaul, where they shifted from passive to active investing (reducing their investment universe from 3,500 stock...

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In this episode of V-FM Pensions, hosts Darren and Nico chat to Broadstone's Dave Brooks. As well as having an illustrious career in pensions admin and consultancy, Dave talks about how it nearly 'made it' (or not) in the world of music. 

We chat tax free cash and the upcoming Budget, consistency of language used in pensions communications and the Pension Commission. We also find out how Dave got into pensions and, of course, find ...

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After an unexpected break last week due to illness, this episode of V-FM Pensions restarts the new season of the podcast with hosts Darren and Nico talking about the Pension Scheme's Bill Committee Stage, productive finance and investing in the UK, Behind Login's app rating assessment, and LCP research highlighting the significant assets under control by 4 professional trustee companies....

We didn't even have time to discuss Trump...

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September 12, 2025 59 mins

In this episode of V-FM Pensions, Darren and Nico are back from an extended summer break when Nico became a father for the first time.

As well as catching up and talking about the real reason Thomas is named Thomas (and Nico's most successful Linkedin post ever!), the duo talk about what's in store for V-FM this autumn and chew the cud on the Pensions Commission, the upcoming Budget and the Pensions Bill.

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July 4, 2025 106 mins

In this bumper episode of V-FM Pensions, hosts Darren and Nico chat to former MP and Pensions Minister Guy Opperman. This is an episode that covers everything: horse racing, politics, Government, pensions and policy. And, of course, we ask Guy what value for money means to him!

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In this episode of V-FM Pensions, hosts Darren and Nico chat to Smart Pension's Director of Investment Proposition, James Lawrence.

We chat about:

  • what's going on in the world and what it means for investment;
  • Baroness Altmann's ideas for linking tax relief to investing in the UK;
  • Smart's investment in green bonds and its approach to zero cost investing;
  • the Pension Schemes Bill and the challenges of balancing long-term societ...
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In this episode of V-FM Pensions, hosts Darren and Nico chat to Global Fund Search's Head of UK, Kris Shergold.

Another wide-ranging episode, where, as well as discussing what value for money to Kris, we chat about:

  • Electricity generation and the state of the grid
  • Value for money from the Office of Value for Money...
  • Scottish Widows reducing it's UK equity allocation, and Aviva CEO warning that mandating pension investments in...
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