by Paul Sweeting | Dec 13, 2016 | All, Investment, Pensions
A growing number of commentators are arguing against the use of bond yields to value defined benefit pension liabilities. These objections often focus on the asset allocation of these pension plans, which they assert typically include significant investments in...
by Paul Sweeting | Nov 1, 2016 | All, Library, Working Papers
Age-Period-Cohort (“APC”) models have been criticised on a number of grounds. One area of concern is in relation to projecting future cohorts. However, we would argue that such projection is unnecessary in some key cases, such as for closed defined benefit...
by Paul Sweeting | Oct 11, 2016 | All, Investment, Pensions
The subject of pension scheme investment in infrastructure is on the agenda once again, and it is clear why. The United Kingdom needs increased investment in infrastructure, and pension schemes need long-term investments. Many infrastructure investments offer...
by Paul Sweeting | Oct 3, 2016 | All
When I qualified as an actuary, it was made clear that qualification was not the end of the journey. It was stressed that just because we’d passed some exams, that didn’t mean we knew everything: we’d continue to learn throughout our careers. Obviously, this isn’t...
by Paul Sweeting | Oct 1, 2016 | All, Library, Working Papers
Over the last twenty years, the extent of defined benefit provision has declined substantially in the United Kingdom. Whilst most of the focus has been on deficits relating to past benefit accrual, a more important consideration is the increasing cost of future...
by Paul Sweeting | Sep 15, 2016 | All, Pensions
The UK Government has essentially ruled out breaking the laws on pensions to save Tata Steel. This is the right decision. However, just because Tata Steel is no longer on the front pages, this should not detract from the fact that there is still a pensions crisis in...
by Paul Sweeting | Aug 1, 2016 | All, Industry News
It’s hard to imagine a time when there was more uncertainty, at least in living memory. The most recent comparison is the global financial crisis that started in 2008. Then, nobody knew exactly what exposure the banks had, which threatened the stability for the global...
