A prestigious CIMA event that includes the likes of Tesco and HSBC finance chiefs Andrew Higginson and Douglas Flint and an audience of peers should be a pretty polished affair. And so it was at the Anthony Howitt lecture - with a couple of exceptions.

Bradford & Bingley FD Rosemary Thorne was spotted furiously scribbling out 'Building Society’ from her name badge, as the company hasn’t carried that moniker since 2000. And during the pensions panel debate, someone saw fit to slowly, but surely, dim the lights until the hall was cloaked in darkness.

TS felt it was a good analogy for the general state of pensions in the UK.