Tag Archives: gilts
Gilts back on the naughty step
Thanks to Katie Martin of the FT for this striking assessment of the state of gilts. Those readers who run schemes primarily invested in gilts will find this interesting as will many readers who watched in horror in October 2022. … Continue reading
A new contract with Government for the next generation of pensioners
I am pleased to read this excellent article by my friend Calum Kapoor in Asset Owner Exchange. This is not an old man like John Kay or Con Keating, explaining the way that pensions shape the economics of Britain, this … Continue reading
No need to moan, pensions should kick start growth in Britain, not Govt. borrowing.
I spoke at the Pension PlayPen meeting on Tuesday ab0ut how our hour long meeting with a number of senior pension professionals on it, had failed to talk once about the opportunity the Budget gave Rachel Reeves to kickstart growth. … Continue reading
What makes a New Town “good” and how do we pay for them?
This is the video of the discussion we had yesterday with Con Keating and Thomas Aubrey The slides that accompany the video can be downloaded here or read from this slide share. This blog is the last in … Continue reading
The difference between gilts and swap prices and what it can mean to your pension
I was pulled up by Con Keating in a comment on a recent article on bulk annuities. Con reprimanded me after I’d said that annuities were priced against gilts (what I was told to say when I was selling “lifestyle” … Continue reading
We don’t have to have a gilt-less pension system – give collective DC and DB half a chance!
The people I hang out with are bifurcated between the DC people (consumer facing) and those who deal (institutionally) with funding. Put Richard Smith among the consumerists and you get Jo Cumbo writing for him, put Con Keating at the … Continue reading
OBR says Gilts are in the pension graveyard – hope they’re right!
Earlier this week I blogged on the EC’s worry that pension schemes are falling out of love with owning gilts. Today, Toby Nangle, the fellow who makes macro-economics accessible to fools like me, backs up the contention that UK pension … Continue reading
Should Pension Schemes Ditch Gilts?
Yesterday saw the implementation of the funding code, tomorrow may see it rewritten We are fast approaching the Mansion House Speech (Thursday) when we can confidently expect Government to address the issue of valuing and funding defined benefit pension schemes. … Continue reading
Actuarial heresy or common sense? LCP question the reputation of the risk-free rate.
The gilt yield is generally accepted as the benchmark for risk-free returns. It’s what Government debt over various time-frames will reward you with and it is accepted as a benchmark because the chance of the UK Government defaulting on … Continue reading
“No use crying over pensions” – Arun Muralidhar’s DC reset.
SeLFIES (Standard-of-Living indexed, Forward-starting, Income-only Securities). The SeLFIES bond is a single, liquid, low-cost, low-risk instrument, easy-to-understand for even the most financially unsophisticated individual, because it embeds accumulation, decumulation, compounding and inflation-adjustments. SeLFIES is good for governments too, as the … Continue reading