Tag Archives: jo cumbo
The Funded Pension System – as an engine of economic growth – has hit the buffers.
In a major article , labelled an FT “big read, Jo Cumbo and Jonathan Ely , examine the LDI crisis and try to establish how pension schemes will change the way they invest. In its central session it contains … Continue reading
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Tagged ft, growth, jo cumbo, Lauira Trott], pension minister, Pensions
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Waking up to systemic risk signalled by the LDI crisis.
It’s estimated that the “leverage” or borrowing within LDI inflated the exposure of UK pensions to long dated and index linked gilts by £1tr (£500bn became £1.5 trillion through the use of shadow banking). These numbers are so huge that … Continue reading
What is “useful content” on LDI and who should publish it?
John Belgrove , who has long been a friend to this blog , has published on Linked-in a Venn diagram. This is not an ad hominem attack on John, he is being helpful in articulating a commonly held view (judging … Continue reading
“Basis points to exhaustion” – the trustee’s new “fear measure”.
Yesterday , a new phrase entered into my lexicon of pensions jargon “Basis points to exhaustion” It is being used by consultants to explain to trustees how much higher the gilt rate can go before they need to find more … Continue reading
August 1st – CDC day!
The 1st August is the day applications open for a new type of UK pension – what pension people know as CDC (though in regulation it is collective money purchase). It’s been a long time in the making, but today … Continue reading
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Tagged Adrian Boulding, AgeWage, CDC, DWP, Guy Opperman, jo cumbo, RSA, TPR
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Watch your carbon footprint – Aussie!
The UK’s Financial Conduct Authority last month said it saw a “clear rationale” for regulatory oversight of certain ESG data and rating providers. “We stress that market participants and consumers must be able to trust green and other ESG-labelled … Continue reading
Pensions Minister resigns
I resign with great regret, given there are serious ongoing issues that need addressing ranging from cost of living support, to legislation, & parliamentary debates. It should not take the resignation of 50 colleagues, but sadly the PM has left … Continue reading
Cumbo calls into question pension transparency.
Case study – the pertinent question on DB funding. For this story, I spoke to an 86yr-old who worries everyday about how his wife, 9 yrs younger, will cope financially if he dies before her. He receives NO inflation rises … Continue reading
Posted in pensions
Tagged DB Funding Code, Hatton, Jane Hatton, jo cumbo, Pensions, ppf, USS
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Financial education? It needs more conviction than most of us can muster!
People in the pensions industry are fond of using the phrase “financial education” as if they know the answer and those who aren’t doing what they want to do are financially illiterate. This is hugely arrogant and largely wrong. People … Continue reading
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Tagged conviction, jo cumbo, Martin Lewis, Paul Lewis, preach, Preaching, Ros Altmann, Sir Steve Webb, Steve Webb, wesley
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Picking an IFA who’ll stay the course.
My friend John Quinlivan is fond of asking me “capital or covenant?” He means me to answer whether my business case is based on the weight of money I can call on , or my trust that I am … Continue reading
Posted in pensions
Tagged ajh financial, capital, covenant, dividends, FCA, ft, jo cumbo
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