London Stock Exchange opening bell ceremony
On Wednesday 29th October Minister of State for Pensions, Steve Webb, rang the opening bell of the London Stock Exchange as part of a ceremony to celebrate the launch of the FTSE UK DC Benchmark Index Series. In attendance were Dr John Armstrong and Professor Teemu Pennanen of the Department of Mathematics, Financial Mathematics group who helped develop these indices by evaluating their performance using stochastic modelling simulations. This work was done as a consulting project undertaken with Elston Consulting.
The new pension indices are designed to assist pension trustees and decision makers in assessing the performance of investments for defined contribution pension schemes. They are the first pension indices to have been launched in the UK. See http://www.ftse.com/products/downloads/UK-DC-Benchmark-Methodology.pdf and http://www.pensionsage.com/pa/FTSE-launches-new-DC-benchmarks.php%20.php for further more information.