Tom
Jo CumboThe Pension PlayPen discussion to follow that of Will Hutton and Ashok Gupta will be on Tuesday 14th July and you can join it from this link. The event starts at 10.30 am
Join Tom McPhail and
Jo Cumbo here
If you want to paste the URL into your diary , here it is
https://teams.microsoft.com/meet/330165062830116?p=3x8RwCVDsES4ThSrKl
I may be in the green room beforehand though I suspect my views , as expressed on a recent blog on Nest’s ambition to be more increasing invested in “home” unlisted companies , will not be welcomed!
Infact, the idea for this session was germinated in a debate at Pensions UK between Hutton and Cumbo on this very subject. I have recently attended a meeting of New Capital Consensus organised in part by Ashok Gupta and I suggested that the investment of our pensions was worthy of a public debate.
What is clear that if we are going to get growth into our economy there must be capital. That capital might be raised by the Treasury through Government Borrowing and Gilts. Or it could come through equity and bonds in new capital for companies with growth prospects. This is called primary investors and it is this that he and Hutton are demanding.
Jo and Tom come it from the retail perspective of the saver/member who has done well in investing in secondary markets (where the investment replaces existing investments from others). This sees much of our investments going to the world’s most successful stock markets – the US S&P 500 and Nasdaq where our money is invested in tech stocks – the magnificent seven.
There is no doubt that this is an efficient and transparent way of investing and for the retail consumer/saver/investor/member makes for clarity in a way that Ashok and Will’s approach doesn’t.
As for Tom, he argues as a trustee and an outspoken Conservative that what the Government is doing is forcing trustees to invest against their best interest . breaking their fiduciary duty to members.
He is a well known speaker and contributor to Pension PlayPen conversations and he will be asking Jo the questions. I suspect there will be the unity of thought between them that there was last week with Hutton and Ashok but no doubt dissent will come from the audience!
Which side of this debate are you on. Will you stick with Ashok and Will Hutton or side with Jo Cumbo and Tom McPhail? Participate in the debate next Tuesday at 10.30am
Join Tom McPhail and
Jo Cumbo here
If you want to paste the URL into your diary , here it is
https://teams.microsoft.com/meet/330165062830116?p=3x8RwCVDsES4ThSrKl
