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...
Last week I gave a couple of talks at the Pensions, Risk and Investment Conference, organised by the Institute and Faculty of Actuaries. One of them was based on a recent paper I wrote* on pension scheme funding. The talk seemed to strike a chord with many...
A lot of attention in the recent UK budget has been focussed on the launch of "lifetime ISAs" (or "LISAs" - yes, that's the reason for the picture...). On the face of it, these seem very tax-efficient. For every £4,000 invested, the Government...
A while ago I co-wrote a paper that looked at the interaction between a pension scheme's investment strategy and the financial strength of its sponsor. As an example, we looked at a pension scheme whose sponsor was an oil company. We argued...
Efficient frontiers are a great way of comparing investment strategies. The way they typically work is to show the trade off between some average or expected value, and the uncertainty around some estimate. So, for example, you might be...
A letter in the Times yesterday stated that the new Government will remove the requirement to buy an annuity at retirement, resulting in pensioners running out of money. It also implied that the sole reason for making this change was to increase the...
