Description: Discusses two different issues of current concern in the UK: Transfer Values and Personal Pensions.

Description: Two-and-a-half years ago the British Government started to issue index-linked securities-the redemption value and coupon both increase with the UK Consumer Price Index, but the value before redemption is determined by the stock market. Initially this was done in a small way and offered to a restricted group of investors pension funds, but now anybody can hold these securities. This article discusses the possibility of insurance companies using these securities to issue annuities that would increase with the UK Consumer Price Index.

Description: Under the UK system of taxation major changes can be made by the Chancellor of the Exchequer at his own whim without proper prior discussion or debate. Such is the party discipline in the Houses of Parliament that the proposals in the Budget each March are automatically matters on which the Government get their way, and in fact some changes take effect immediately on the day of the Budget speech.

Description: This article discusses index-linked securities, in light of the recent “Inquiry into the Value of Pensions” a committee set up by Prime Minister Margaret Thatcher “to consider the value of the differences in inflation protection of private pensions and job security, comparing those for civil servants with others.” The committee endorsed index-linked pensions for civil servants and private sector, and as a result the U.K. government issued index-linked bonds for the use of pension plans.

Description: The article discusses indexed-linked securities in the United Kingdom and the relationship between the prices of index-linked securities and interest rates, common stock prices and a combination of these.

Description: This is a report about inflation and index-linked securities in the United Kingdom.