Tag Archives: John Ralfe

Sadly – many nurses can’t afford their “gold-plated” pensions.

Posted on December 17, 2022 by henry tapper

“The Government can get people back to work – and also reduce taxpayer costs – by allowing all public sector workers to choose higher pay today, in exchange for a lower DB pension in retirement” – John Ralfe This is … Continue reading →

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Thoughts on “death and taxes and pensions”.

Posted on December 16, 2022 by henry tapper

Here is how the Institute of Fiscal Studies concludes its report into the taxation of DC pots when the owner of the pot dies. I whole heartedly agree with the analysis and conclusions of this report. Conclusion Whether by accident, … Continue reading →

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It’s leverage wot dunnit!

Posted on November 24, 2022 by henry tapper

Hidden borrowing, hidden losses and a hidden group of victims from the LDI crisis – that’s what came out of yesterday’s remarkable evidence sessions held in committee room 16 of the House of Commons. Hidden borrowing. The legal argument about … Continue reading →

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Why employers should be pig-sick about LDI (as should many DC savers).

Posted on November 23, 2022 by henry tapper

  This morning I will be giving evidence to the Work and Pensions Committee as part of its inquiry into Defined Benefit Pension Schemes with Liability Driven Investments. I will be giving evidence with John Ralfe, Con Keating and Iain … Continue reading →

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Unfunded pension promises don’t cost less to keep, but they’re more easy to break.

Posted on November 20, 2022 by henry tapper

2/2 The cost of public sector pensions depends exclusively on the nature of the promise. Whether funded or unfunded, the promise is identical – and unconditional obligation for taxpayers to meet the pensions when they fall due. — John Ralfe … Continue reading →

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

Posted on November 17, 2022 by henry tapper

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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John Ralfe turns up to the wrong debate.

Posted on November 3, 2022 by henry tapper

The Corporate Adviser master trust conference was a success. I will return to sessions earlier in the day but this blog is about a debate between John Ralfe, an opponent of CDC and Simon Eagle who champions CDC both inside … Continue reading →

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“More that unites than divides” – Ralfe and Keating as one on LDI.

Posted on October 16, 2022 by henry tapper

    It’s helpful to think about local issues, like the current LDI crisis in terms of investment philosophy. In this article, I argue that two protagonists, who see pension fund investment differently are drawn together by an aversion to … Continue reading →

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The fight for fungible pensions continues!

Posted on July 12, 2021 by henry tapper

“The tragedy of British pension arrangements is that the attempt to force safety on private arrangements is forcing them into collapse. Worse, it has allowed the older generation of pensioners to extract all the risk-bearing capacity of private sponsors for … Continue reading →

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Con Keating explains why John Ralfe is wrong on CDC

Posted on July 2, 2021 by henry tapper

  This is a commentary on an article which appeared in FT Alphaville, which was sent to me by a friend in Bermuda. It is a description by John Ralfe of a lecture given by him. The lecture was hosted … Continue reading →

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