Tag Archives: BOE

“Not so fast” – BOE tells insurers “moderation in all things”

Posted on April 28, 2023 by henry tapper

I got to yesterday’s Pension Age conference just as LCP’s Ken Hardman was explaining how capacity for bulk buy-out was expanded by a healthy reinsurance market. When I got home late that evening I found myself reading a speech by … Continue reading →

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Who’s in regulatory control of DB pensions?

Posted on March 30, 2023 by henry tapper

The Financial Policy Committee’s recommendation is that the Pensions Regulator is re-equipped with another statutory objective, to become pension’s agent for the Bank’s work on financial stability. For departing CEO, Charles Counsell, this means a handover to incoming CEO Nausicaa … Continue reading →

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BOE pins LDI crisis on the “obscurity” of small DB funds.

Posted on January 19, 2023 by henry tapper

Yesterday I reported on BOE +PRA batting for the pensioner against Government – batting for insured buy-out. That discussion was played out in front of parliament’s Treasury Committee on Monday and that same meeting – part of an inquiry into … Continue reading →

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Waking up to systemic risk signalled by the LDI crisis.

Posted on October 26, 2022 by henry tapper

It’s estimated that the “leverage” or borrowing within LDI inflated the exposure of UK pensions to long dated and index linked gilts by £1tr (£500bn became £1.5 trillion through the use of shadow banking). These numbers are so huge that … Continue reading →

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In the eye of the storm

Posted on October 8, 2022 by henry tapper

Over the past few days, while the  Bank of England intervention in the Long Dated Gilts “Repo” market has been in operation, there has been an insidious increase in the long dated gilt yield. I have been quoting previously the … Continue reading →

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If LDI pooled funds collapse – what would follow ?

Posted on October 7, 2022 by henry tapper

To understand how pooled LDI funds work, listen and watch this excellent video which explains the rewards and the risks of LDI pooled funds. Please watch it to understand the way that LDI works within a pooled fund. Thought I’d … Continue reading →

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Private markets – a jewel in the crown or fool’s gold?

Posted on September 29, 2021 by henry tapper

A key aim for DC trustees should be to consider how to ‘further improve’ long term future net risk adjusted returns and ‘member outcomes’ rather than just cutting costs. Getting more for members! @GuyOpperman @DWP @TPRgovuk @TheFCA @ThePLSA @bankofengland @henryhtapper … Continue reading →

Posted in age wage, DWP, Fiduciary Management, Guidance, guy opperman | Tagged , , , , , , , , | 2 Comments

A roadmap that would fundamentally change the way our money is invested

Posted on September 27, 2021 by henry tapper

The publication of the Productive Finance Group’s A roadmap for increasing productive finance investment paves the way for Long Term Asset Funds to be integrated in the default investment strategies of our major workplace pensions. Clearly the Government has got … Continue reading →

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“Asleep at the wheel” The Millers catalogue our regulatory woes.

Posted on February 26, 2020 by henry tapper

Campaigner Gina Miller is asking for an  Independent Review of the Appointment of the Next Governor of the Bank of England and the FCA in the Face of a Catalogue of Regulatory Failures Leading to Catastrophic Consumer Detriment The True … Continue reading →

Posted in FCA, Financial Conduct Authority, pensions | Tagged , , , , , , , | 3 Comments

Pension fury from Paul Lewis

Posted on September 17, 2016 by henry tapper

It’s worth subscribing to Paul Lewis’ weekly Moneybox blog, delivered to your inbox on a Friday afternoon. This week’s mail addresses a central unfairness; those laying down the law on pensions are sorted , those they tell to “engage” –  face  “glacial”  innovation from … Continue reading →

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