Jon Stapleton
@jonstapleton.bsky.social
Editor of Professional Pensions. Also a dad and scout leader. Enjoy walking and good cheese (not necessarily together though). Live in West Sussex, work in London.
It seems there are some areas where CoPilot, Gemini and ChatGPT do substantially outperform DeepSeek...
February 12, 2025 at 12:49 PM
It seems there are some areas where CoPilot, Gemini and ChatGPT do substantially outperform DeepSeek...
Analysis by Dean Wetton Advisory finds the key reason for outperformance in any master trust has been how much equity risk they have been carrying - with a bonus for if that equity was weighted towards the US.
See: www.professionalpensions.com/news-analysi...
See: www.professionalpensions.com/news-analysi...
DWA unveils master trust performance comparisons
In light of the chancellor’s Mansion House speech in November, which had a strong focus on consolidation of the defined contribution (DC) market, there was significant industry concern that the end re...
www.professionalpensions.com
January 30, 2025 at 10:43 AM
Analysis by Dean Wetton Advisory finds the key reason for outperformance in any master trust has been how much equity risk they have been carrying - with a bonus for if that equity was weighted towards the US.
See: www.professionalpensions.com/news-analysi...
See: www.professionalpensions.com/news-analysi...
Do we need an alternative to lifestyling in DC?
Columbia Threadneedle's Christopher Mahon argues the cost to the saver of excessive de-risking in lifestyle defaults is an average performance drag of 2.3% per year.
See: www.professionalpensions.com/sponsored/43...
Columbia Threadneedle's Christopher Mahon argues the cost to the saver of excessive de-risking in lifestyle defaults is an average performance drag of 2.3% per year.
See: www.professionalpensions.com/sponsored/43...
An alternative to lifestyling in defined contribution
At the end of November, Professional Pensions assembled a panel of experts to look at the issue of defined contribution (DC) lifestyling – asking if there were alternative approaches that could work b...
www.professionalpensions.com
January 20, 2025 at 10:00 AM
Do we need an alternative to lifestyling in DC?
Columbia Threadneedle's Christopher Mahon argues the cost to the saver of excessive de-risking in lifestyle defaults is an average performance drag of 2.3% per year.
See: www.professionalpensions.com/sponsored/43...
Columbia Threadneedle's Christopher Mahon argues the cost to the saver of excessive de-risking in lifestyle defaults is an average performance drag of 2.3% per year.
See: www.professionalpensions.com/sponsored/43...
The People’s Pension (TPP) targets £4bn private markets allocation by 2030. Hire of private markets specialist imminent. Initial focus on infra and real estate. CIO Dan Mikulskis said dependable pipeline of investable opportunities needed to hit target. www.professionalpensions.com/news/4396205...
The People's Pension targets £4bn move into private markets
The People’s Pension (TPP) is set to start investing a “significant proportion” of its £31bn assets into private markets later this year – with a target to grow its allocation to £4bn by 2030.
www.professionalpensions.com
January 16, 2025 at 10:33 AM
The People’s Pension (TPP) targets £4bn private markets allocation by 2030. Hire of private markets specialist imminent. Initial focus on infra and real estate. CIO Dan Mikulskis said dependable pipeline of investable opportunities needed to hit target. www.professionalpensions.com/news/4396205...
Emma Reynolds' tenure as pensions minister (189 days) was the third shortest since the role was created in its modern form in July 1998. She is only beaten by John Denham (155 days) and Alex Burghart (38 days).
See: www.professionalpensions.com/news/2201473...
See: www.professionalpensions.com/news/2201473...
January 14, 2025 at 5:25 PM
Emma Reynolds' tenure as pensions minister (189 days) was the third shortest since the role was created in its modern form in July 1998. She is only beaten by John Denham (155 days) and Alex Burghart (38 days).
See: www.professionalpensions.com/news/2201473...
See: www.professionalpensions.com/news/2201473...
On @profpensions.bsky.social this morning LCP's @stevewebb1.bsky.social and Laura Myers propose a very interesting 'comply and explain' alternative to the government's DC megafunds proposals. www.professionalpensions.com/opinion/4394...
Steve Webb and Laura Myers – There is a better way forward on DC investment
The Chancellor has a problem. On the one hand, we are told that generating economic growth is the over-riding ‘mission’ of the government. On the other, the government is severely constrained when it ...
www.professionalpensions.com
January 13, 2025 at 10:47 AM
On @profpensions.bsky.social this morning LCP's @stevewebb1.bsky.social and Laura Myers propose a very interesting 'comply and explain' alternative to the government's DC megafunds proposals. www.professionalpensions.com/opinion/4394...
What the gilt sell-off means for pension schemes... While collateral top-ups may be needed, pension funds are ‘far from another LDI crisis’
www.professionalpensions.com/news-analysi...
www.professionalpensions.com/news-analysi...
Analysis: What the gilt sell-off means for pension schemes
Jonathan Stapleton looks at what has caused the sell-off in UK government bonds and asks industry professionals about the impact it will have on pension schemes.
www.professionalpensions.com
January 9, 2025 at 4:50 PM
What the gilt sell-off means for pension schemes... While collateral top-ups may be needed, pension funds are ‘far from another LDI crisis’
www.professionalpensions.com/news-analysi...
www.professionalpensions.com/news-analysi...
A really interesting piece in the FT by @johnralfe.bsky.social today... In it, Ralfe notes UK equity allocation for DC is already double the “neutral” weighting and asks what savers get out of investing in the UK, other than a patriotic glow? www.ft.com/content/3e67...
Labour’s pension reforms are based on flawed analysis
What exactly do savers get out of investing in the UK, other than a patriotic glow?
www.ft.com
January 3, 2025 at 9:44 AM
A really interesting piece in the FT by @johnralfe.bsky.social today... In it, Ralfe notes UK equity allocation for DC is already double the “neutral” weighting and asks what savers get out of investing in the UK, other than a patriotic glow? www.ft.com/content/3e67...
Naan bread cheese?
December 19, 2024 at 4:51 PM
Naan bread cheese?
The Stichelton and Baron Bigod cheeses from Neal's Dairy Yard are exceptional this year. Definitely my recommendation for a festive cheeseboard. Oh... And the M&S Delice de Bourgogne. A nice Montgomery cheddar and a small piece of goats cheese on the side. Definitely no chutney.
December 18, 2024 at 1:27 PM
The Stichelton and Baron Bigod cheeses from Neal's Dairy Yard are exceptional this year. Definitely my recommendation for a festive cheeseboard. Oh... And the M&S Delice de Bourgogne. A nice Montgomery cheddar and a small piece of goats cheese on the side. Definitely no chutney.
Some 3.5 million self-employed people of working age save nothing in a private pension. They are, as @stephawthorne.bsky.social says in her latest piece for @profpensions.bsky.social, "left out in the cold". This article looks at how we might solve the problem of pensions for the self-employed...
December 10, 2024 at 9:59 AM
Some 3.5 million self-employed people of working age save nothing in a private pension. They are, as @stephawthorne.bsky.social says in her latest piece for @profpensions.bsky.social, "left out in the cold". This article looks at how we might solve the problem of pensions for the self-employed...
PensionBee's Romi Savova hits out at intensifying policymaker push for increased allocations to illiquid assets saying it could lead to "poorer retirement outcomes due to higher fees, diminished transparency, and limited flexibility" - www.professionalpensions.com/news/4386080...
PensionBee's Romi Savova hits out at government push for DC investment in illiquids
Prioritising investments in illiquid assets risks leaving savers with poorer retirement outcomes, PensionBee chief executive Romi Savova says.
www.professionalpensions.com
December 6, 2024 at 11:01 AM
PensionBee's Romi Savova hits out at intensifying policymaker push for increased allocations to illiquid assets saying it could lead to "poorer retirement outcomes due to higher fees, diminished transparency, and limited flexibility" - www.professionalpensions.com/news/4386080...
The case for pension scheme investment in Bitcoin. In this article for PP, Sam Roberts explains why he believes Bitcoin has evolved from a niche digital asset into a mainstream investment opportunity. See: www.professionalpensions.com/opinion/4384... #Bitcoin
December 3, 2024 at 10:57 AM
The case for pension scheme investment in Bitcoin. In this article for PP, Sam Roberts explains why he believes Bitcoin has evolved from a niche digital asset into a mainstream investment opportunity. See: www.professionalpensions.com/opinion/4384... #Bitcoin
In October, Professional Pensions assembled a panel of experts to look at the options available for smaller schemes – assessing the choices they have in areas such as governance, endgame and investment.
Read the discussion in full here: www.professionalpensions.com/sponsored/43...
Read the discussion in full here: www.professionalpensions.com/sponsored/43...
The options available for smaller DB schemes
In October, Professional Pensions assembled a panel of experts to look at the options available for smaller schemes – assessing the choices they have in areas such as governance, endgame and investmen...
www.professionalpensions.com
November 25, 2024 at 1:23 PM
In October, Professional Pensions assembled a panel of experts to look at the options available for smaller schemes – assessing the choices they have in areas such as governance, endgame and investment.
Read the discussion in full here: www.professionalpensions.com/sponsored/43...
Read the discussion in full here: www.professionalpensions.com/sponsored/43...
Two significant BPA deals today - an innovative £500m 'value share' deal between a corporate sponsor and M&G (see: www.professionalpensions.com/news/4382322...) and a £1.7bn pensioner buy-in between the National Grid section of the ESPS and Aviva (see: www.professionalpensions.com/news/4382318...)
M&G completes £500m BPA deal that shares value with corporate sponsor
A pension scheme sponsored by an unnamed private corporate sponsor has completed a £500m value share bulk purchase annuity (BPA) transaction with M&G.
www.professionalpensions.com
November 25, 2024 at 10:52 AM
Two significant BPA deals today - an innovative £500m 'value share' deal between a corporate sponsor and M&G (see: www.professionalpensions.com/news/4382322...) and a £1.7bn pensioner buy-in between the National Grid section of the ESPS and Aviva (see: www.professionalpensions.com/news/4382318...)
Here they are... The winners of the Professional Pensions Investment Awards 2024: www.professionalpensions.com/news/4381258...
Congratulations to all the winners!
Congratulations to all the winners!
PP Investment Awards 2024: The winners
Here they are… the winners of the Professional Pensions Investment Awards 2024.
www.professionalpensions.com
November 20, 2024 at 11:10 AM
Here they are... The winners of the Professional Pensions Investment Awards 2024: www.professionalpensions.com/news/4381258...
Congratulations to all the winners!
Congratulations to all the winners!
Two major master trust consolidators - Smart Pension and SEI - have expressed concerns of government DC scaling plans... They say timelines are tight and there are competition concerns: www.professionalpensions.com/news/4380582...
Major master trusts express concern over government's approach to DC consolidation
Two major master trust consolidators – Smart Pension and SEI Master Trust – have expressed concern over the way the chancellor is looking to consolidate the defined contribution (DC) scheme market.
www.professionalpensions.com
November 18, 2024 at 10:56 AM
Two major master trust consolidators - Smart Pension and SEI - have expressed concerns of government DC scaling plans... They say timelines are tight and there are competition concerns: www.professionalpensions.com/news/4380582...
@jackjonestuc.bsky.social Have I inadvertently just made an Omelette Jack Jones?
November 15, 2024 at 9:23 AM
@jackjonestuc.bsky.social Have I inadvertently just made an Omelette Jack Jones?
A very radical set of proposals... On DC we have legislation for a min size and max number of default funds as well as contractual overrides for contract-based schemes AND implementation of multiple default consolidator model. Also massive LGPS reform.
www.professionalpensions.com/news/4380189...
www.professionalpensions.com/news/4380189...
Government publishes Pensions Investment Review interim report and launches consultations on DC and LGPS
The government has published the interim report of its Pensions Investment Review – setting out proposals it is consulting on to “deliver scale and consolidation” of the defined contribution (DC) mark...
www.professionalpensions.com
November 15, 2024 at 8:23 AM
A very radical set of proposals... On DC we have legislation for a min size and max number of default funds as well as contractual overrides for contract-based schemes AND implementation of multiple default consolidator model. Also massive LGPS reform.
www.professionalpensions.com/news/4380189...
www.professionalpensions.com/news/4380189...
PP's Holly Roach spoke to pensions minister Emma Reynolds earlier this afternoon...
She was told the Mansion House Compact "does not go far enough" and that the government is "not pursuing or considering the lifetime provider model"
Read more: www.professionalpensions.com/news/4379967...
She was told the Mansion House Compact "does not go far enough" and that the government is "not pursuing or considering the lifetime provider model"
Read more: www.professionalpensions.com/news/4379967...
Pensions minister: Mansion House Compact does not go far enough
Pensions minister Emma Reynolds has said the government must go further in ensuring value for pension savers.
www.professionalpensions.com
November 14, 2024 at 3:41 PM
PP's Holly Roach spoke to pensions minister Emma Reynolds earlier this afternoon...
She was told the Mansion House Compact "does not go far enough" and that the government is "not pursuing or considering the lifetime provider model"
Read more: www.professionalpensions.com/news/4379967...
She was told the Mansion House Compact "does not go far enough" and that the government is "not pursuing or considering the lifetime provider model"
Read more: www.professionalpensions.com/news/4379967...
Silly question... HM Treasury says there are currently around 60 different multi-employer DC schemes, each investing savers’ money into one or more funds. TPR lists 34 authorised DC master trusts... What are the other 26? Are they trust-based schemes that aren't master trusts? Or something else?
November 14, 2024 at 8:28 AM
Silly question... HM Treasury says there are currently around 60 different multi-employer DC schemes, each investing savers’ money into one or more funds. TPR lists 34 authorised DC master trusts... What are the other 26? Are they trust-based schemes that aren't master trusts? Or something else?
Mansion House plans to create LGPS and DC 'megafunds' in economic growth bid... But will these megafunds invest in the UK (and in the projects preferred by the government) when better returns may be on offer globally?
www.professionalpensions.com/news/4379426...
www.professionalpensions.com/news/4379426...
Mansion House plans to create LGPS and DC 'megafunds' in economic growth bid
Chancellor Rachel Reeves will announce plans to create pension “megafunds” through a series of reforms to the Local Government Pension Scheme (LGPS) and defined contribution (DC) schemes as part of th...
www.professionalpensions.com
November 14, 2024 at 6:20 AM
Mansion House plans to create LGPS and DC 'megafunds' in economic growth bid... But will these megafunds invest in the UK (and in the projects preferred by the government) when better returns may be on offer globally?
www.professionalpensions.com/news/4379426...
www.professionalpensions.com/news/4379426...
Finally... My piece on L&G partnering with IFM Investors for the infrastructure sleeve of its Private Markets Access Fund... Thanks to L&G's Jesal Mistry and IFM Investors' Armit Bhambra (pictured below) for the chat yesterday.
www.professionalpensions.com/news/4379172...
www.professionalpensions.com/news/4379172...
L&G selects IFM Investors as infrastructure manager for DC private markets fund
Legal & General’s (L&G’s) asset management division has selected IFM Investors as an infrastructure manager for its defined contribution (DC) focused Private Markets Access Fund (PMAF).
www.professionalpensions.com
November 13, 2024 at 4:06 PM
Finally... My piece on L&G partnering with IFM Investors for the infrastructure sleeve of its Private Markets Access Fund... Thanks to L&G's Jesal Mistry and IFM Investors' Armit Bhambra (pictured below) for the chat yesterday.
www.professionalpensions.com/news/4379172...
www.professionalpensions.com/news/4379172...
Next up... A piece from my colleague Jasmine Urquhart on what a Maple 8 model might mean for the LGPS...
www.professionalpensions.com/news/4379382...
www.professionalpensions.com/news/4379382...
Mansion House speech: What could a Maple 8 model mean?
Earlier this year, chancellor Rachel Reeves ventured into the world of pensions to explore new ways of reinvigorating the system to work with the government’s planned growth strategy.
www.professionalpensions.com
November 13, 2024 at 3:58 PM
Next up... A piece from my colleague Jasmine Urquhart on what a Maple 8 model might mean for the LGPS...
www.professionalpensions.com/news/4379382...
www.professionalpensions.com/news/4379382...
Three articles for you to look at today... First up, a piece by Sackers' Jacqui Reid, who says says there are two significant problems with the FCA’s proposed approach to VfM...
www.professionalpensions.com/opinion/4379...
www.professionalpensions.com/opinion/4379...
Will VfM reforms deliver what the DC industry needs?
With DC pension assets now valued at over £1trn, the defined contribution (DC) pensions market continues to be a key area of focus for government.
www.professionalpensions.com
November 13, 2024 at 3:56 PM
Three articles for you to look at today... First up, a piece by Sackers' Jacqui Reid, who says says there are two significant problems with the FCA’s proposed approach to VfM...
www.professionalpensions.com/opinion/4379...
www.professionalpensions.com/opinion/4379...