Monthly Archives: October 2022
SIX awkward questions trustees and sponsors should ask their advisers
In addressing Pension Playpen today, William McGrath, founder of C-Suite Pension Strategies suggested LDI problems should inspire scheme trustees and members to consider some awkward questions. Awkward Questions – What has been sold and at what losses in the last … Continue reading
There is another way than LDI – find it at today’s PlayPen coffee morning.
You can join this morning’s Pension PlayPen coffee morning using this link. Warning – yesterday’s ad – the event is today – TUESDAY 18th September. It is the most topical of subjects, we must get a new narrative if … Continue reading
The reframing of the LDI narrative will hide a tragedy for both DB and DC schemes
The past two weeks have seen significant amounts of time, energy, intellect, and ink spent analyzing what went wrong with liability-driven investment (LDI), and the ex-post rationalization of what was not a black swan event. Higher inflation and the concomitant … Continue reading
Lest we forget
It was unsecured borrowing that sunk Trussnomics, and unsecured borrowing nearly sunk our corporate DB pension system. Pension Schemes should not borrow , save in emergency. We should never forget how close our pension system came to calamity through the … Continue reading
Keating and Clacher’s last post; the DWP Funding Regs. consultation ends today
The DWP’s Funding Regulations consultation closes today (17/10/22). This is the 9th and closing article from Keating and Clacher dealing with the consultation. This is the ninth and last in our series of blogs addressing the questions posed … Continue reading
Gilt yields “Narratives built while the dust is still in everyone’s eyes could fall apart fast”.
I’m writing (and you may be reading) ahead of the opening of Gilt trading on the Morning of Monday 17th October. There are a number of ways that the market could go; Gilt yields could remain at current levels – … Continue reading
ReAssure’s IGC report – proves there can be value at the bottom of the barrel.
This article focusses on the IGC Chair’s report for ReAssure, published in September for the year to the end of 2021. As its Chair, David Hare makes clear, it doesn’t include the member experience for 2022, that will follow – … Continue reading
Are LDIs the greatest scandal of the lot?
Let’s unpick this headline , statement by statement. Do we need a rethink of pensions? Undoubtedly we do , the current pensions regime is under review and the DWP have drafted some draft regulations which are supposed to make them … Continue reading
Keating and Clacher take aim at DWP’s impact assessment
Tomorrow is the final day for responses to the DWP’s Draft Funding Regulations. This is the 8th blog from Con Keating and Iain Clacher on the inadequacy of these Regulations. In recent days we have seen a number of consultancies … Continue reading
“More that unites than divides” – Ralfe and Keating as one on LDI.
It’s helpful to think about local issues, like the current LDI crisis in terms of investment philosophy. In this article, I argue that two protagonists, who see pension fund investment differently are drawn together by an aversion to … Continue reading