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Reversible Jump Markov Chain Monte Carlo (RJMCMC) Method
Continuing our series of blogs on methods of GI reserving that have caught our interest, we turn our attention to the Reversible Jump Markov Chain Monte Carlo (RJMC…
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VAT: RIP the trustee. Long live the trustee company…?
HMRC has recently issued two briefing notes in relation to reclaiming VAT on invoices for pension scheme services. Whilst on the face of it, DC schemes seem to be g…
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A light-hearted application of utility theory to Christmas
Leave your Christmas shopping til the last minute and greet your family on Christmas day with an itchy jumper? Chances are you are failing to maximise the utility t…
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Lies, damned lies and statistics*
With the regularity of the Gregorian calendar, Michael Johnson has issued yet again his preposterous ideas to radically change the essence and structure of the LGPS…
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EIOPA has updated their website (and published 37 new papers!)
EIOPA has been busy updating its website and releasing a multitude of papers on Solvency II Implementing Technical Standards and Guidelines. What aspects of Solvenc…
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Holiday pay ruling is no vacation for pension schemes
Employers should also consider the impact of a recent judgement on pensionable salary
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Medical underwriting for bulk annuities – the market gathers pace
A record £206m bulk annuity which included medical underwriting has been completed recently. How was this deal put together and what should employers and trustees c…
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The standard (but not-so-simple) formula
Standard formulae are designed to simplify a problem but under Solvency II, the standard formula approach is not as simple as the name would lead us to believe. I…
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Inflation protection – a capacity crunch over the horizon?
Whilst the radical reform of the defined contribution landscape has already caused considerable upheaval in the market for individual annuities, an interesting cons…
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Too much freedom and choice for Treasury’s comfort?
The Government’s Budget announcement of freedom and choice in pensions may have inadvertently created a tax loophole. What do employers need to think about?