Tag Archives: valuation

Sam Marsh tweets about the (non-existent) 2021 USS valuation

Posted on September 10, 2021 by henry tapper

Sometimes twitter throws up a thread that draws you from tweet to tweet in a way that a long blog can’t. This thread from Sam Marsh is an example. It is an exercise in controlled fury at the ineptitude of … Continue reading →

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The other way to value DB schemes- Clacher and Keating.

Posted on June 3, 2020 by henry tapper

  DB scheme value Valuation – the long way round Our blog (May 28th) calling for a bonfire of pension regulation led to a surprising amount of interest and a wide range of questions and even some requests for expansion … Continue reading →

Posted in accountants, actuaries, advice gap, de-risking, pensions | Tagged , , , , , , | 5 Comments

Don’t make the teachers pay

Posted on September 3, 2017 by henry tapper

  I am  sad to read that “academics face a big rise in their pension payments”. That’s the headline in the FT and it may be true. Another set of spurious numbers? The University Superannuation Scheme has completed it’s three … Continue reading →

Posted in accountants, actuaries, advice gap, pensions | Tagged , , , , , , | 7 Comments

A message to USS members from Bill Galvin

Posted on August 8, 2017 by henry tapper

  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 →

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The £1 Trillion Gain From Dumping Pension Convention

Posted on May 9, 2017 by henry tapper

You wait ages for one to come along then two come along at once. Not buses, but reports disrupting established thinking on how we value pension liabilities. Nikesh Patel, Head of Investment Strategy UK & Maya Beyhan, Investment Strategist at Kempen Capital … Continue reading →

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Isn’t life looking up for our DB Plans?

Posted on May 4, 2017 by henry tapper

  Say it quietly but the outlook for our defined benefit pension schemes is improving. Members , trustees and sponsoring employers can be heartened by five concurrent signals – all of which suggest that the cataclysm predicted last year by … Continue reading →

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Con Keating on the real cost of pension transfers

Posted on January 3, 2017 by henry tapper

  Imagine buying a bond at par, say a ten-year, ten-percent coupon issue; then let five years pass, when market interest rates decline to one percent. At this time, the bond is trading in the market at £143.68 percent. Now, … Continue reading →

Posted in Pension Freedoms, pensions, Retirement, trustee | Tagged , , , , , , | 5 Comments

A Christmas present for UK pension plc

Posted on December 15, 2016 by henry tapper

The Pension Protection fund published its monthly update on Tuesday. The news slipped out quietly (as good news generally does). The aggregate deficit of the 5,794 schemes in the PPF 7800 Index is estimated to have decreased over the month to … Continue reading →

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