When only 8 to 15 mega-trusts dominate the entire defined contribution (DC) and LGPS landscape, peer-group risk may override manager…
This is clearly a serious story about institutional accountability, bankruptcy and the treatment of former employees. But, although the immediate…
Here's another way for a pension fund to get in the soup. https://bayourenaissanceman.blogspot.com/2026/09/the-catholic-clergy-sex-abuse-scandal.html
I had earlier today read a medical research article reporting on a Japanese study that found that “supercentenarians” — those…
Tag Archives: Clacher
Clacher and Keating ask can pension funds revive Europe (and UK)?
A Response to: Europe’s investment challenge: can pension funds play a role? Iain Clacher and Con Keating This article was first published in IPE. Keating remarked last week “Given the positive vote in the German Parliament .. we have only … Continue reading
The video , the slides and the feedback on Con Keating’s data tour de force.
Though Dr Iain Clacher never quite made it onto the webcast, attendants of Pension PlayPen’s last webinar of the financial year were treated to the sombre tones of Dr Con Keating who talked us through the anomalies between data supplied … Continue reading
LDI “episode” cost our pensions £166,000,000,000
An Analysis of the Pensions Regulator’s Review of impact on DB landscape following (the) LDI Episode: Part 2 This is the second of our blogs commenting on TPR’s Report to Work and Pensions Committee on LDI. The first can be … Continue reading
Keating and Clacher; TPR’s take on the LDI episode
An Analysis of the Pensions Regulator’s Review of impact on DB landscape following (the) LDI Episode A “short” blog from Iain Clacher and Con Keating As TPR’s Report is 58 pages long, we are going to … Continue reading
Bad data leads to poor regulation – NB-TPR
The commentary in the embed is a 17,000 word – 33 page – document with no pictures, jokes or cheap jibes. In short – it is written for people who have a serious interest in the governance of DB pensions … Continue reading
The Costs of LDI – Keating and Clacher
Iain Clacher and Con Keating The ONS has just published its Financial Survey of Pension Schemes (FPFS) as of September 30th 2022. At the end of December 2021, the ONS reported net pension assets of £1,821 billion which was essentially … Continue reading
“I’m all right, Jack” – LDI apologists get short shrift from Keating and Clacher
This blog is written in response to an FT article entitled “A different perspective on LDI”. We quote it in its entirety and respond after each quotation. LDI is very far from the light entertainment of an Ealing comedy. “It … Continue reading
Those whom the gods would destroy, they first make mad
There is an aspect of the letter from TPR to Work and Pensions Select Committee which we believe warrants unpacking: “Schemes that used LDI strategies to lessen the impact of falling or volatile interest rates over the past … Continue reading
The reframing of the LDI narrative will hide a tragedy for both DB and DC schemes
The past two weeks have seen significant amounts of time, energy, intellect, and ink spent analyzing what went wrong with liability-driven investment (LDI), and the ex-post rationalization of what was not a black swan event. Higher inflation and the concomitant … Continue reading
Keating and Clacher’s last post; the DWP Funding Regs. consultation ends today
The DWP’s Funding Regulations consultation closes today (17/10/22). This is the 9th and closing article from Keating and Clacher dealing with the consultation. This is the ninth and last in our series of blogs addressing the questions posed … Continue reading
Scottish teachers' pay increases, such as the recent multi-year agreement negotiated via the Scottish Negotiating Committee for Teachers (SNCT) covering…