Why Anthony Hilton is Wrong on Pensions 

Reading Time: 2 minutes “Expected returns don’t pay benefits, cash does” Anthony Hilton recently wrote a stinging attack on pension consultants -like myself- who advise defined benefit pension schemes to measure, and hedge, their liabilities with reference to gilt yields. Here’s one (of several) reasons why he’s wrong. His argument – that you could fund based on the much … More Why Anthony Hilton is Wrong on Pensions