Tag Archives: solvency

Small beer; Keating and Clacher take a sober look at the PPF

Anyone who struggles to pay attention to pensions should read no further. There are close to 10,000 words in this article and some very deep thinking. I publish it because we have a couple of debates coming up on the … Continue reading

Posted in pensions | Tagged , , , , , | 2 Comments

“I’m all right, Jack” – LDI apologists get short shrift from Keating and Clacher

This blog is written in response to an FT article entitled “A different perspective on LDI”. We quote it in its entirety and respond after each quotation. LDI is very far from the light entertainment of an Ealing comedy. “It … Continue reading

Posted in pensions | Tagged , , , , , | 6 Comments

Otsuka finds balm for USS’ “forty year itch”

    With remarkable restraint , Mike Otsuka reports on conversations he’s had with the USS on unknown unknowns. We do not know what the future brings, but past performance suggests that universities do not fail as people need higher … Continue reading

Posted in pensions, USS | Tagged , , , , , | 4 Comments

“What’s the purpose of a pension scheme?” – Con Keating

  Con Keating argues in this piece that pension schemes aspire to “self-sufficiency”, giving them the status of  insurance companies. His thinking centres on what claims we have on schemes if the covenant to fund these schemes is lost. His conclusions … Continue reading

Posted in actuaries, pensions | Tagged , , , , , | Leave a comment

A message to USS members from Bill Galvin

  This message went to members of the University Superannuation Service pension scheme last week. It contains many of the message that this blog has tried to put over (rather better!). It also provides an answer to the question of … Continue reading

Posted in pensions | Tagged , , , , , | 5 Comments

FABI – taking the crisis out of pensions!

It is now three months since we launched our First Actuarial Best estimate Index (or FAB Index for short). It has generated a significant amount of interest amongst our clients and across the wider pensions industry – and has even … Continue reading

Posted in First Actuarial, pensions | Tagged , , , , , , , , | 2 Comments

Why I’m excited about second hand annuities.

Transparency is the great disinfectant, but disinfectant- when applied to an open wound- can be painful. It is however the only way we can recover. Continue reading

Posted in pensions | Tagged , , , , , , , , , | Leave a comment