Tim Knight - St James's Place

Tue, Mar 28th 2017 at 12:30 pm - 2:00 pm

A talk by Tim Knight. Head of Investment Consultancy with St James’s Place.


The weekly meeting of The Rotary Club of Kirkcaldy was held at the Dean Park Hotel on Tuesday 28th March. There were 26 members and 2 guests in attendance.

The pupils at St. Andrews High are holding a coffee morning on the 25th April at 10:35 to raise funds for purple 4 polio. St Andrews High have also started up a bicycle club and donations of bicycles in whatever state of repair would be most appreciated.

The Curling season is now over and four of our members had a successful finish to the season winning The Rotary Friendship Cup.

PP Ann Mitchell had 5 visits to other clubs and President Mark had visited Kirkcaldy Raith.

The Friends of Rotary meeting is scheduled for 12th April. Kirkcaldy Raith are having a 10th Anniversary celebration at the ecology centre on the 28th April at 12pm

The speaker was Tim Knight from St. James’s Place on the topic of Changing Times. Tim started by mentioning that the biggest change was a matter of demographics and he continued to back this up with staggering facts on life expectancy and the growth in the world’s population.

When the state pension was set up most people died before or soon after they reached pension age, however in the future we can expect people to be pensioners for 20 -30 years. Coupled with this is a reduction in birth rate so effectively we are looking at pensions requirements tripling while the working population paying taxes is more  than halved. It is these problems that have led to regulation such as auto enrolment in order to try and share the responsibility of pensions between the state and corporations. Tim said that we faced uncertain times with Brexit etc, he went on to explain that times are always uncertain and that risk is a function of time so it is essential to get the fundamentals right and just live through the noise. He also mentioned that perhaps we need to reframe our expectations of what good looks like.

Tim explained how a pension fund can be used as to create a family heirloom and how it is possible to start paying pension contributions for young children, which with the powers of compound interest would ultimately provide a healthy pension pot. Tim emphasised that ultimately while we should enjoy our hard earned cash it is a moral obligation to protect, preserve and cascade it for the next generation.

President Mark gave the vote of thanks and particularly thanked St. James’s Place for the frequent and generous funds given to Rotary and used to pay for activities such as the Children’s Christmas party.

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