I know a fair few bankers (and I bet some don’t want to remember me!). They want to mark their happiness to the market but pots of money never do! They need pensions like the rest of us.
"prefers to compare the returns with a liability proxy (a mixture of gilt maturities)" Are those Index-Linked gilts, given that…
I agree the major problem with DC is that it has been designed as a savings plan not to provide…
Oh, and I think this confusion leading to DB being viewed as a pot by members is an unintended consequence…
I think the FT critic has fundamentally misunderstood what DB schemes are designed to do and how they differ from…
Scheme actuaries use a nominal gilt yield curve, which they assert directly matches the currency and inflation exposure of those…