Tag Archives: Con Keating
A Tale of Two Pension Plans : Randy Bauslaugh
This blog is based on remarks to the National Coordinating Committee for Multi-employer Plans, Miami, Florida, September 21, 2019.(Edited for Length.) I have the original transcript , supplied by Dr Con Keating and published by C.D. Howe Institute’s Pension … Continue reading
Con Keating questions the value of “limited liability”.
It’s been a while since this blog has featured Con’s incisive thinking. This article calls into question the capacity of shareholders to have their returns and have someone eat the risk. There’s a lot of easy talk about the “governance” … Continue reading
Posted in Fiduciary Management, governance, pensions
Tagged Con Keating, ESG, Goodhart and Lastra, governance
4 Comments
Keating on Ralfe, CDC and morality
Last week’s Corporate Advisor’s Pensions Summit featured a debate on the merits of CDC pensions. Johan Ralfe presented the “case” against the introduction of CDC. In the main, with all the showmanship of Barnum and Bailey, this resurrected old and … Continue reading
Discount Rates and DB Pension Scheme Valuation: A history lesson from Con Keating
The question most frequently asked – “what discount rate should be used for valuing the liabilities of pension schemes?” – is problematic. Surprisingly, academics and practitioners have spilled gallons of ink, and exchanged more than a few uncivil words debating … Continue reading
Posted in pensions
Tagged Con Keating, DB pensions, Discount rates, liabilities, pensions
Leave a comment
A common solution to the “retirement savings challenge”.
I recently published Con Keating’s thoughts on why the “at retirement” decision is to complex. It is indeed the nastiest, hardest problem in finance. The blog prompted my old friend Sandy Trust to point us to the paper he … Continue reading
Posted in CDC, pensions
Tagged CDC, Con Keating, Grant Thornton, Neo-liberalism, pensions, Retirement
Leave a comment
“The nastiest hardest problem…” Con Keating on pension drawdown
Con Keating is currently in hospital with a poorly foot. He is a caged tiger on the ward, but the surfeit of energy has been dispelled by his putting his mind to what Bill Sharpe called the nastiest hardest problem in … Continue reading
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
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
“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 annuity, CDC, Con Keating, Innovation, Michael Johnson, pensions
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