LDI and beyond
Has liability-driven investment (LDI) performed for UK pension schemes? Life & Pensions reports on the experience of two pioneers of LDI
Any debate about the performance of liability-driven investment (LDI) for UK pension schemes begins with a discussion of how to measure liabilities. Confusingly, there are several market-consistent ways to measure liabilities, each of which give a different perspective in terms of full benefits and the position of liabilities, ranging from the PPF (Pension Protection Fund) basis, IAS 19, gilts and on a full buy-out basis.
The general consensus among trustees is that the most appropriate long-term
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