The 21 local authority pension funds orphaned by closure of Access and Brunel asset pools look set to split almost evenly with seven to Border to Coast, seven to LGPS Central, and four to LPPI (three yet to announce but two expected to go to LPPI). Govt said they could not all move together.

Tax-free pension withdrawals have shot up ahead of bringing pensions within IHT and budget speculation that the tax-free lump sum allowance will be cut. FoI response from FCA. w/ @emdunks.bsky.social: www.ft.com/content/f9f9...

The government's forecast for pension fund returns with 5% in PE and 10% in infrastructure vs baseline portfolio with no private market exposure is not very encouraging! w/ Jamie John www.ft.com/content/ee3a...

“Don’t kid yourself in thinking that you can develop policy in a vacuum without taking the market into account,” says Sir Robert Stheehman reflecting on UK's 2022 gilt crisis ahead of a bumper global election year (also explains why he's not worried about current issuance) www.ft.com/content/fb89...

Centrals bankers have been pushing back this week against market moves to price in more rate cuts. “What central banks don’t want is markets taking away their tightening.” www.ft.com/content/1c0d...

High US rates add to “silent debt crisis” in some of the world’s lowest income economies US on.ft.com/3MtDmOA