Presentation given to Goldman Sachs Pension Academy explaining how pension fund trustees could consider coping with the credit crisis and updating investment thinking for the future.
Ros critiques measures in Government’s Pre Budget Report, explaining why cutting VAT will not work and recommending reducing direct taxes and increasing pensions instead.
Ros wrote to urge the Government to issue gilts specifically targeted and pension funds and annuity providers: long duration, linked to inflation and longevity/mortality. There are hundreds of billions of pounds of domestic institutional money that would eagerly buy such paper.
Article published in the Yorkshire Post contrasting the effects of the credit crunch on private sector and public sector schemes and calling for transparency on accounting for public sector pensions.
Press Release highlighting the dangers of printing money to bail out retail bank depositors 100% while long term savings remain maximum 90% safe. There should at least be some quid pro quo for taxpayers protecting above the Â£50,000 limit.
Press Release suggesting the credit crisis is due to short-term policy which borrowed from the long-term and will have to be paid back. Until policymakers understand this, they will not solve the problem and short term panic measures are not the answer.
Press Release explaining why the panic measures aimed at stabilizing the banking system will make the pensions crisis worse and lead to a serious pensioners crisis soon. Ros calls for the Government to issue more long-dated gilts and longevity or mortality bonds.
Article published in Unite Magazine, explaining the dangers of emergency protection of bank deposits 100% while pensions are far less protected and the long term risks of making short term savings more secure than long term investments.
Article published by Pensions Management Institute in PMI News giving Ros’ views on how the credit crisis is likely to affect pensions in the UK.
Press Release commenting latest figures showing rise in final salary scheme deficits for FTSE 100 companies caused by falling equity markets and disappointing corporate bond returns.