Category Archives: CDC

Why should we have to “engage” with our pension?


I am on the same page as Charlotte Clark of the DWP, I don’t think we should be asking people to engage with our pension, state – occupational or private. Saving for our retirement needs our attention but when we’ve … Continue reading

Posted in actuaries, advice gap, CDC, pensions | 4 Comments

Smart Ledgers & Collective Defined Contribution Pensions


    Long Finance’s Distributed Futures research programme has produced a report entitled “Smart Ledgers & Collective Defined Contribution Pensions”, the latest in a series of exciting projects in the programme. Long Finance has agreed to invite readers of this blog to the … Continue reading

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Here be dragons – Z59; Con Keating


Many of the opponents of CDC pensions have argued that, if introduced, they should be tightly regulated, as they are “untried and untested”. Some have even suggested that the Dutch system of regulation, with its stochastic models, risk buffers and … Continue reading

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“Right in theory, wrong in practice” – the great funding debate.


t The antediluvian clash of Titans that has been waged on twitter since late last week shows no sign of abatement. As I watched the Winter’s Tale at the Globe, seven bells were being knocked out of Messrs Ralfe and Brown … Continue reading

Posted in advice gap, CDC, pensions | 2 Comments

Nuts and bolts of CDC


My twitter account is currently heavy with reproach from  John Ralfe and his followers who are demanding I deliver documents, statements and reveal confidential information about collective pension schemes; (I am also under fire for quoting Hamlet). To some this would be harassment, … Continue reading

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“Why Michael Johnson’s so wrong!” – Con Keating


Michael Johnson’s letter to Frank Field & Co on CDC (reproduced in full here) was a real disappointment. I had expected more; a new and closely reasoned critique, passionately believed, perhaps. What I got was a tired and repetitive rehearsal … Continue reading

Posted in annuity, blockchain, CDC, defined ambition, defined aspiration, pensions | Tagged , , , , , | 2 Comments

CDC – with-profits in disguise?


Michael Johnson, who I’ve a lot of time for, has asked me two questions. Why is it not possible to provide the attributes of a CDC scheme through a With Profits fund, set in the context of an occupational scheme … Continue reading

Posted in CDC, pensions | Tagged , , , , | 2 Comments

Johnson misses the point; CDC is for the common man


  I don’t know whether Michael Johnson is being obtuse or obstructive, but either way, his letter to the Financial Times, misses the point.    A small cabal of consultants to the pensions industry has been banging the collective defined … Continue reading

Posted in CDC, pensions | Tagged , , , | 1 Comment

For you, my friend, drawdown is over- the chimera of freedom


This article is about collective pensions, it’s not technical, anyone can read it and – I hope- enjoy it. I wrote it after discussing pensions with my landlady at my Munich hotel. My friend Abraham has it in a nutshell. … Continue reading

Posted in CDC, pensions | Tagged , , , , , | 2 Comments

Why CDC risk management breaks all the DB rules – Con Keating


The advent of CDC will offer an opportunity to introduce forms and techniques for risk management which are intrinsically more efficient than those currently advocated by the Pension Regulator and which are consistent with the true duties and obligations of … Continue reading

Posted in CDC, pensions | Tagged , , , , , | 1 Comment