ThreeBearsBalancedWithText_18Sep2024_Vignette
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table_initial_fund
[discount_rates_problem] [outcomes] [fund_development] [table_initial_fund]

For both capital and income contracts, with and without inflation, the initial uncorrected funds are shown below. Because the MtM discount rates are always based upon gilt yields, the funds do not vary according to proposed investment strategy. Ranging between 1 and 6, the numbers on the right are the ranks (highest at top), with the outliers shaded in green. Using conventional gilts to fund index-linked benefits is really expensive.

TableInitialFunds_17Nov2024