Tag Archives: Dr Iain Clacher

Portfolio Resilience – the transition to LDI II

Advocates of Liability Driven Investment (LDI) have been busy reassuring the authorities that LDI no longer constitutes a threat to financial stability. They have been doing this, in increasing volume and frequency since the end of the Bank of England … Continue reading

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Work and Pensions Committee and the Pensions Regulator ; Iain Clacher & Con Keating

  This morning the Pensions Regulator will be giving evidence to the Work and Pensions Committee’s inquiry into Liability Driven Investment. Charles Counsell, the Chief Executive of the Pensions Regulator, wrote a letter to the Lord’s Industry and Regulator’s committee … Continue reading

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I’ll argue on my blog – not in parliament.

The Work and Pensions  Committee announced the line-up for their sessions on LDI (23rd November). There’s been a bit of banter about lining up Con, John and Iain and me. Let’s calm things down. We may have very different views … Continue reading

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DWP funding regs. suffer from “recency-bias” – Keating and Clacher

This is the fifth in our series of blogs addressing the questions posed in the DWP’s Funding Regulations consultation.  Links to the previous blogs are provided at the end of this blog. We follow the same conventions as in previous … Continue reading

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LDI – open to legal challenge? Keating and Clacher ask awkward questions.

  The authors of this blog are Iain Clacher & Con Keating The purpose of a UK defined benefit tax approved pension scheme trust will be set out expressly in the terms of the trust deed (or can be deduced … Continue reading

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Keating and Clacher debunk LDI

Risk and DB Pension Scheme Funding Iain Clacher & Con Keating If only that Dilbert cartoon had been published fifteen or twenty years ago, we might have seen very different outcomes from the rise of ‘de-risking’ strategies, liability driven investment … Continue reading

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Follow the data and defend the charge cap – Clacher and Keating

Today’s blog is the continuation of yesterday’s introduction to problems with the proposed exemption of the charge cap. Your authors are Con Keating and Iain Clacher. We responded to the earlier consultation on illiquid private ‘market’ investments and performance fees. … Continue reading

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CDC and Statutory Risk Management

The new regulations which enable CDC schemes require an annual viability statement to be prepared. Of necessity, it must be a forward-looking document, and that means that it will in part be reliant on the actuary’s/trustees’ estimates of the future … Continue reading

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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

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With Friends Like These, Who Needs Enemies? The DB Funding Code: An Existential Threat to Open DB Scheme

  We have been asked what impact the Funding Code would have on open schemes by a number of correspondents.  This blog illustrates why the new funding code is the  biggest risk that open scheme members face . Simply put, … Continue reading

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