Monthly Archives: October 2022
Will Truss Evolve or Revolve?
I spoke with a former Treasury mandarin during the recent PM selection period who had worked under Truss and Sunak. She said the difference was “chalk and cheese” with Sunak a diligent minister who paid attention to detail while Truss … Continue reading
Aviva’s IGC Statement’s fierce battle to stay relevant.
A report whose relevance is challenged Aviva published its 2022 IGC report in September. As the picture says, it deals with the performance of Aviva’s pension savings products to the end of 2021 but does not cover the impact of … Continue reading
Vote for the sunshine that’s Maria to make UKSIF a brighter place!
If your firm is a member of UKSIF, you can vote for Maria to sit on your board. I can’t think of a better choice. If you are a UKSIF member you can get your ballot papery clicking this link … Continue reading
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“Basis points to exhaustion” – the trustee’s new “fear measure”.
Yesterday , a new phrase entered into my lexicon of pensions jargon “Basis points to exhaustion” It is being used by consultants to explain to trustees how much higher the gilt rate can go before they need to find more … Continue reading
News of the new pension minister (including live action at #CPC22)
The delay in announcing Alex Burghart as our new pension minister is, I am being old, due to his assuming a number of jobs including one to combat fraudulent benefit claims and another as the DWP’s growth minister. This suggests … Continue reading
LDI – where next?
The debate on the future of LDI can be polarised by comments of two highly respected figures who have been active in the bond market for decades. Dawid Konotey-Ahulu said to the FT that there was “no doubt” schemes … Continue reading
TPR’s role in the current crisis; Keating and Clacher
Dawid Konotey- Ahulu , one of the architects of LDI comments in today’s FT about last week’s events “UK defined-benefit plans existed in a state of uncertainty . . . [they] simply didn’t know whether they had sufficient assets to pay the pensions … Continue reading
Are “fiduciary managers” worthy of our trust?
“Not on our balance sheet” Over the past week , there has been an underwhelming narrative put out by parts of the pension industry that the threat to UK DB pension schemes from the sharp rise in gilt rates was … Continue reading
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Excess deaths over the summer “remarkable” C19 Actuaries keep us updated
http://www.covidactuaries.org Friday Report: Issue 71 By: Adele Groyer, John Roberts, Dan Ryan & Matt Fletcher COVID-19 Actuaries Response Group – Learn. Share. Educate. Influence. COVID-19 is still among the most important health topics for scientific papers and … Continue reading
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Truss and Kwarteng – failing on all counts
I am listening Liz Truss’ various local radio interviews in which she “broke silence” on the mini-budget. What strikes me is the lack of detail and precision in her statements, the lack of warmth and empathy she builds with her … Continue reading