Scheme actuaries use a nominal gilt yield curve, which they assert directly matches the currency and inflation exposure of those…
"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…
Tag Archives: Blog
“We want freedom and choice and we want simplification too”.
Pensions. Tax. Benefits. Each over-complex. When combined: lethal. We shouldn’t blame pension freedoms for the mistakes caused by governments’ habit of making everything too complicated. We want freedom and choice and we want simplification too. — Stuart Fowler (@fowlerdrew) February … Continue reading
#beetroots, #biscuits – how the battle for truth @USS is being won.
I find myself embedded in a bizarre discussion on #transparency between some of the brightest bods on twitter. This ill becomes me, I am out of my depth, a TUC cracker in the posh biscuit barrel. #beetroot #biscuits pic.twitter.com/Hywkpf8U2W — … Continue reading
Posted in pensions, USS
Tagged Beetroot, Biscuits, Blog, Mike Otsuka, pensions, Sam Marsh, USS
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GDPR – a contrarian view
I was going to entitle this piece “f*#k GDPR” but I have too many people I like, who live that dream, to risk offence. But I’ll be glad after 25th May, not to have to spend 30 minutes a day, … Continue reading
Posted in Blogging, brand, journalism, pensions
Tagged Blog, compliance, GDPR, May 25, pensions
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10 best read blog posts of 2017
In search order Why some transfer values are ridiculously high? 2017 was a year when the cash equivalent transfer value became fashionable again. When we look back at what CETVs have done to Defined Benefit pensions over the past 24 months, … Continue reading
Posted in Blogging, Henry Tapper blog, pensions
Tagged Blog, blogger, CDC, DB, henry tapper, pensions, Technology
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3000 blog posts up!
At some point over the weekend I published my 3000th blog post. Time for celebration- no? Time for 500 words of reflection – yes! I think publishing stuff that might interest others is now an activity of daily living … Continue reading
Posted in Blogging, journalism, pensions
Tagged Blog, henry tapper, pension playpen, Pension Plowman, pensions, WordPress
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Can pensions be more playful (please)!
I’ve waded through a number of IGC chair reports this Easter weekend and a smile has seldom been on my lips. With the exception of the Virgin Money report, I hardly felt I knew who I was talking to. Ironically, … Continue reading
Posted in IGC, pension playpen, pensions, Personality
Tagged Blog, Engagement, Facebook, Fun, IGC, instagram, Linked in, pension playpen, snapchat, social media, twitter
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Plugging phoney deficits does no good!
We have become fixated with phoney pension deficits, now a British pension consultancy is suggesting we can plug phoney deficits with real money, the dividends that support “other people’s pensions. This is what we think of the phoney deficits. Our … Continue reading
“Sunspots” (Con Keating)
Although not at this week’s Pension PlayPen lunch, Con asked for an account of the conversation; I mentioned that those in the room were pleased that schemes owning large amounts of index-linked gilts, had enjoyed bumper returns last year. It … Continue reading
Posted in pensions
Tagged Blog, Bonds, Con Keating, FABI, index linked gilts, LDI, pension playpen, Sunspot
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End of the road for LDI?
Thanks to those brave souls who braved “Southern”, the tube strike and filthy weather to attend yesterday’s lunch which asked “has LDI had its day?”. One answer to that question was clear, I learnt that the top performing asset class … Continue reading
Posted in pensions
Tagged Bank underground, Blog, Bonds, Investment, Japan, LDI, Liability Driven Investment, opportunity cost, speculation, Value at risk, VAR, yield
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Self sufficiency – another idiocy! (Con Keating)
The idea that DB pension schemes should be self-sufficient, funded to such a level that they are capable of paying all pensions when due from their own resources is now rather popular. It is also completely idiotic, as the … Continue reading
Thanks for your reply. I hope it does successfully "embed both the real rate and expected inflation in one number".…