Neha Bhargava

Articles from Neha Bhargava

  • How can you adopt a more integrated approach to fund deficits?

    The landscape for managing pension schemes continues to change.. Now, more than ever, pension trustees and corporate sponsors are facing a number of challenges: lower yields, sponsor balance sheet and new regulations to name a few. However, the fundamental problem still remains the same. To secure and protect member benefits, funding deficits have to be repaired. In the past, deficit repair discussions have happened in a silo way. Every three years, trustees and sponsor would get together and have what is more of a negotiation over contributions, rather than aim to agree a long- ... ..read more
  • NOTES OF MUSIC AND STROKES OF FINANCE

    How can the language of music help to decipher the jargon in pensions? Many industries and professionals carry their own technical language (“jargon” for everybody else), so it can be helpful to translate this into more familiar terms. During her one week internship at Redington, A-level student Antara Roy did just this – read on to see how playing a flute is useful in learning how to prepare a flight plan: hr { display: block; margin-bottom: 30px; margin-top: 30px; } "A passion of mine has always been music; whether it has been listening to ... ..read more
  • THE PARADOX OF PENSION FREEDOM

    What does last week’s Pension Freedom Day mean for more than just the individual? The media coverage has been largely monochrome in its assessment of economic risk. What about the big picture? Opinion of the new policy aside, commentators seem to agree on one thing. ‘The risk’ is of retirees blowing their hard-earned savings in a spending spree and becoming dependent upon state welfare programs for maintenance. The imagined queue of new retirees outside Lamborghini showrooms and Luxury cruise operator offices makes for a compelling news story, after all. Pers ... ..read more
  • WHAT’S IN DRAGHI’S CIGARETTE CASE?

    An old chess anecdote tells of how the Russian master, Nimzowitsch, was unsettled when his opponent took out a cigarette case and placed it next to the chess board during a match. Nimzowitsch, who hated cigarette smoke, immediately called the organizers and lodged a complaint. The poor officials argued that as the man had not lit up and there was no smoke there could be no complaint. “I know” retorted the great Nimzo, ‘but he threatens to smoke and you know as well as I, that in chess, the threat is stronger than the execution’. As in chess, so may it be in ... ..read more
  • IORP - A CALL TO ACTION ON GOVERNANCE

    The latest draft of the revised IORP Directive was published on 27th March by the European Commission. The revised directive is aimed to achieve better governance of occupational pension schemes (Defined Benefit, Defined Contributions…Defined Ambition in the future), more informed communication with scheme members, remove obstacles for cross-border provision of services across EU and encourage schemes to invest in long term assets which support the growth of the real economy.   Here is the link to the revised directive: http://ec.europa.eu/internal_market/pensions/directive/ ... ..read more
  • DYNAMIC RISK MANAGEMENT - SMALL SCHEME WITH BIG RESULTS

    The first few months of 2013 have delivered mixed results for pension schemes. While equities have delivered positive performance resulting in increased asset values, the dip in real yields and increase in liability values have more than offset those gains for most schemes.   The volatility in the markets has once again highlighted the importance of following a disciplined risk management approach to investments and to hedge un-rewarded risks.   For the pension scheme I mentioned in my last blog, the systematic action to increase its hedge ratio at the end of January followi ... ..read more
  • DYNAMIC RISK MANAGEMENT IN PRACTICE

    Pension schemes are realising the unpredictability of financial markets and looking for ways to manage its volatility while meeting their return requirements. Is there a way out? Here’s the story of a small pension scheme which has managed this exceedingly well by following a disciplined and robust approach, delivering an impressive performance as a result. Turning back to the summer of 2008, the Scheme (then with less than £100m in assets) is close to being fully funded on a buyout basis, but still with over 90% of its assets invested in equities and less than 5% in bonds. ... ..read more

Prior to joining Redington in 2009, Neha worked at Merrill Lynch, London with the Rates Structuring group and at Merrill Lynch, Hong Kong with the Securitization group. She holds an MBA from the Indian Institute of Management, Ahmedabad (IIMA) and a BA (Hons) in Mathematics from St. Stephens College, Delhi University. Neha currently works in the investment consulting team on a number of trustee and sponsor-side appointments spanning the breadth of Redington’s client base.