Monthly Archives: October 2022
Keating and Clacher on TPR and LDI
This blog has been deferred for publication till Wednesday so that it can be published elsewhere first. Apologies to readers – it will be worth the wait. In the meantime , say a thought for thanksgiving turkeys, who like LDI … Continue reading
Discretionary increases; that was then- this is now.
Read Stephanie Hawthorne’s article on whether schemes will pay discretionary interests to combat the cost of living crisis that many members face. Then ask yourself this. How likely is it for your DB scheme to pay out anything more than … Continue reading
It has been a long week – it will be a long winter
As the clock ticks towards 5pm on Friday 14th October, the bells of St Pauls are beginning to toll the end of the week. With is is the end of the Bank of England’s support for conventional and index linked … Continue reading
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Sell now – while buyers last
Thanks to TC Jefferson for injecting some humour into a pretty fraught week!
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There is no such thing as “risk free” – even when lending to our Government.
In the financial crisis the financial system nearly brought down the Government because of their financial imprudence. Now it’s the other way around, the Government’s imprudence is threatening the financial stability of the UK – including the banks. But this … Continue reading
Assessing the wreckage – a “helicopter view” of DB pensions
There have been two parallel stories running this week. The first is the story that the pensions industry wants told , a story about rising standards, impending dashboards and the acknowledgement that the majority reaching retirement in DC schemes need … Continue reading
Should the new Pension and Growth minister grow auto-enrolment?
There is growth and there is growth – it looks like growing pensions through auto-enrolment is the wrong kind of growth. Pensions have not been immune from the current political and market turbulence. Indeed they have been branded both victim … Continue reading
#PLSAannual22 – another day of chaos.
The Minister of Pensions and Growth took his seat at the PLSA conference at around 11am on 12th October in what appeared to be a fireside chat with the PLSA’s politics person Nigel Peaple. In the three weeks since the … Continue reading
Out from the eye of the storm
Predictably, the PLSA called upon the Bank of England to provide ongoing support for the pension funds which had either directly or through pooled funds, geared up their bond exposure through “borrowing”. “Borrowing” is what the Bank of England thinks … Continue reading
Why the BOE has now intervened over index-linked gilts
This blog was originally published earlier in the year. I’m re posting it as it explains why the Bank of England has had to rescue index linked gilts from trouble – trouble linked to pension scheme de-risking. This is an … Continue reading
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