Tag Archives: Con Keating

It’s time we tested the value we get for the charges we pay

If I had read the PLSA’s response to the DWP’s proposals to flex the pension charge cap, this time last year, I would have applauded it. I told the Pensions Minister to his (virtual) face that I saw no demand … Continue reading

Posted in pensions | Tagged , , , , , | Leave a comment

Con Keating on illiquids and performance fees.

A Response to the DWP Consultation on Illiquid Investments and Performance Fees   Dr Con Keating Chair, EFFAS Bond Commission April 2021   It would not be surprising if the DWP were swamped by responses to this consultation from the … Continue reading

Posted in pensions | Tagged , , , | Leave a comment

Will technology save lifestyle?

No sooner have I published a blog announcing that AgeWage is embarking on research on how lifestyle has actually done, than I read a post in Professional Pensions from Julius Pursaill explaining how a master trust he advises is going … Continue reading

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

“Real return, real return – wherefore art thou real return” – Con’s cri de couer

Con Keating’s cri de couer demands an answer. Shakespeare scholars will recognize that Juliet was not asking “where Romeo” as much as “why  Romeo”. This article asks where inflation beating returns can be secured and leaves us answering the question … Continue reading

Posted in pensions | Tagged , , , | Leave a comment

Con Keating on Performance Fees and Illiquid Investments

This blog was written in response to Henry Tapper’s blog of Monday 21st March in which he raised the question: “I don’t understand why illiquids have to use performance fees.” As it happens, I had just written an opinion piece … Continue reading

Posted in pensions | Tagged | 1 Comment

The cost of prudence – a cautionary tale from the pen of Con Keating

The problem with adding ‘prudence’ to a discount rate is that it does nothing for the uncertainty of the ultimate benefits, but it raises costs in the meantime in a manner which simply cannot be justified. In the case we … Continue reading

Posted in pensions | Tagged , , , , | Leave a comment

A major contribution to the practice of funding pensions

Despite most of us saving into defined contribution retirement plans which provide no pension and rely entirely on investments and contributions for their outcomes, the defined benefit plan remains the source of most retirement income for the UK. Most defined … Continue reading

Posted in pensions | Tagged , , , , , | 6 Comments

USS’ view of investment returns is anything but prudent – Keating

Once is chance, twice bad luck, but three times – “Enemy Action” USS has been at it again. On March 1 2021, they published a paper entitled: “The difference between our expected investment returns and our prudent assumptions”. The paper … Continue reading

Posted in pensions | Tagged , , , , | 4 Comments

Pension trustees -you can’t buy a sausage with a brick!

There is an interesting article in  the FT which has sparked quite different reactions from people I know. Here is it’s presentation from Jo Cumbo, who has strong views on investing other people’s money for social purpose. It’s Jo’s article. … Continue reading

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

Nick Hillman’s “USS trilogy” reviewed

HEPI (the higher educational policy group) has published three blogs on its website authored by Nick Hillman (pictured). The website hasn’t attracted much comment so I asked Con Keating to send me his. “Idiosyncracy” as a euphemism. When I accepted … Continue reading

Posted in pensions | Tagged , , , | 2 Comments