The Latest
Risk

Top-heavy populations imperil pensions

In the near future, age demographics may very well reach a critical tipping point as dwindling numbers of Millennials and other younger generations become inadequate to support the large cohort of retiring Baby Boomers – and economic growth won’t fix the problem, a UK pension expert has said.
Analysis

Liquidity premium escapes UK investors

  UK pension funds have not taking advantage of their comparative advantage as long-term investors and have not earned a positive long-run liquidity premium on their investments, according to a paper from the Cass Business School that examines UK pension funds’ monthly allocations to major asset classes over the period 1987-2012. The authors – David […]
News

Cass creates principles
for DC model

As almost every market in the world looks to move from defined benefit to some sort of defined contribution model, academics at the Pensions Institute of the Cass Business School, City University London have developed a set of 15 principles for designing a defined contribution model. The principles, consistent with the recently published OECD guidelines, are based […]
In Conversation

Why the UK needs longevity bonds

David Blake, director of the Pensions Institute at the Cass Business School in London, believes the UK government should issue longevity bonds to help create an efficient capital market for the transfer of longevity risk. But given the government’s reluctance to do so, he says, perhaps the private sector should step up.