Monthly Archives: October 2022
The underlying problem with LDI is not about liquidity – it’s about leverage.
At the @xpsgroup seminar on LDI – 3.6% of schemes admitted to not making collateral calls and another 5.3% had had their hedge taken from them. Is this good? Apparently so by the reaction since – to me it looks … Continue reading
Yesterday lunchtime was like awakening from a frozen summer
I thought parliament yesterday experienced a Narnia moment. The moment where the snows start melting and normal life comes back. It was in the roar of acclamation that came from the 1922 Committee Room when it was announced that there … Continue reading
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A letter to Alex Burghart at a time of change
Dear Alex, We have never met, I have only seen you on stage at the PLSA. I am told you are a decent , intelligent and capable man, so I wonder if you really want to be our Pensions Minister, … Continue reading
FREE to live stream 10.30 today ; Tom Selby – “THE CONSUMER CHALLENGE”!
Pension PlayPen will have a new and brilliant speaker this week in AJ Bell’s consumer guru – Tom Selby. He will be speaking at 10.30 am at the Pension PlayPen coffee morning – today Tuesday 25th October and I can … Continue reading
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Transparent data rumbles Johnson’s lie.
Johnson’s grubby statement Boris Johnson’s statement that he wouldn’t be standing for PM against Rishi Sunak and Penny Mordaunt is too grubby to be printed. It is in effect a declaration of intent to stand as leader in two years … Continue reading
Assessment of 2021 IGC reports – a boring read but an important one!
Despite the efforts of the FCA to make IGC reporting more relevant to ordinary savers, I found this crop of IGC reports were bland and unambitious in their reporting of VFM. No IGC suggested that value for money was not … Continue reading
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Tagged Aegon, Aviva, Fidelity, GAA, IGC, l7g, Prudential, Royal London, Scottish Widows, Standard Life, Vanguard, Virgin
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Virgin Money’s IGC report – a disappointing anti-climax.
The Virgin Virgin Stakeholder Pension IGC Report was published in September 2022. It is the last IGC report I expect to review and the least difficult. When he took the job of Chair of the IGC, Sir David Chapman inherited … Continue reading
Actuarial statement on LDI – reassurance or fudge?
The Institute and Faculty of Actuaries (IFoA) regulates its members to make sure that there is public confidence in its profession. The IFoA is incorporated by Royal Charter under which it has the role of regulating the actuarial profession, in … Continue reading
Sunak ahead, Johnson holds the aces, the country suffers.
Rishi Sunak has reinforced his lead in the eyes of the bookies. This quote is from 8.30am Sunday 23rd. This would normally look a done deal, but I think the bookies are pricing on the outcome of the parliamentary vote … Continue reading
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Boris is back but he’s no Cincinnatus.
Don’t believe foolish talk that this is a wide open race to be the next PM, it isn’t , it is a three nag sprint not the donkey derby we had earlier this autumn. Boris is back, he was still … Continue reading