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John Ralfe

@johnralfe.bsky.social
274 followers 248 following 166 posts

Pensions. johnralfe@johnralfe.com

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John Ralfe @johnralfe.bsky.social · 01/03/2026
According to this letter replying to my article for the Church to lock-in its DB surplus would be against scripture!
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John Ralfe @johnralfe.bsky.social · 23/02/2026
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John Ralfe @johnralfe.bsky.social · 18/02/2026
My @ft piece on Church pensions ft.com/content/0cba44… "By holding 70% in “risky” assets "The Church is playing a dangerous game of double-or-quits, like betting money at the casino" - www.ft.com/content/0cba44a0-2c3a-43…
ft.com
Church of England pension fund tempts an earthly reckoning
The fund is in surplus after a period of high interest rates, but it is heavily invested in risky assets
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John Ralfe @johnralfe.bsky.social · 18/02/2026
My FT piece on Church pensions ft.com/content/0cba44… via @ft "By holding 70% in “risky” assets @churchofengland is playing a dangerous game of double-or-quits, like betting money at the casino. Would parishioners be happy if they knew what was going on with their donations?"
ft.com
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John Ralfe @johnralfe.bsky.social · 17/02/2026
Watch out for my @financialtimes.com piece on @churchofengland.org pensions "The Church is playing a dangerous game of double-or-quits, just like betting money at the casino."
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John Ralfe @johnralfe.bsky.social · 03/02/2026
Which rather sums up all your policies?
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John Ralfe @johnralfe.bsky.social · 03/02/2026
Pls expand...
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John Ralfe @johnralfe.bsky.social · 03/02/2026
www.telegraph.co.uk/money/pensio... my latest @telegraph.co.uk piece on Richard Tice, @reformuk.bsky.social and LGPS
telegraph.co.uk
Reform’s public sector pension plan is doomed to failure
Attempts to cut back councils’ cash contributions will merely kick the can down the road
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John Ralfe @johnralfe.bsky.social · 19/12/2025
See my FT letter on the MPs' pension scheme - junk bond holdings and undisclosed investment management costs
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John Ralfe @johnralfe.bsky.social · 30/11/2025
My letter in today's Sunday Times on Jeremy Hunt's pension
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👣Coco👣 🇺🇦 🇪🇺 @nortygirl.bsky.social · 24/09/2025
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Helen Barnard @helenbarnard.bsky.social · 23/09/2025
Just to be clear: - Paracetamol does not cause autism. - Sadiq Khan is not introducing Sharia law in the UK - We do not have a massive free speech problem here. - Britain is not on the verge of civil war. These are not controversial subjects or contested, they're just not true.
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David the Kamado 🚙💨 @kamadodavid.bsky.social · 31/08/2025
"Flagging"
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Financial Times @financialtimes.com · 21/08/2025
What’s gone wrong for WHSmith? on.ft.com/4lHE0H8
on.ft.com
What’s gone wrong for WHSmith?
We don’t know. But we’re prepared to take a guess
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Alexander Clarkson @aphclarkson.bsky.social · 13/08/2025
The stronger likelihood is that this summit is more likely to be the geopolitical equivalent of a loud farting noise that causes much embarrassment before everyone moves on
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David Higham @oldtrotter.bsky.social · 04/08/2025
Extraordinary that anyone gives creedence to Osborne’s views on economics. Clearly thinks he knows more than Bailey about financial stability.
U.K. is being “left behind” on crypto, says George Osborne 

Former Chancellor who now advises Coinbase says Rachel Reeves should set up a framework for stablecoins
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John Ralfe @johnralfe.bsky.social · 30/07/2025
Fortunately they don't give you a specific age
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John Ralfe @johnralfe.bsky.social · 29/07/2025
I have just had to verify my age for DMs here...
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Tom Robinson @tomrobinson.com · 29/07/2025
As Stephen Yaxley Lennon's public profile continues to rise, so do the chances of this Graham Keyes cartoon coming true each time TRB goes out on tour...
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John Ralfe @johnralfe.bsky.social · 29/07/2025
See p12 of PrivateEye HP sauce on Rachel Reeves Mansion House Speech. My contribution on Alastair King's claims about the wonders of private equity = his numbers were "the usual wishful thinking from people who want to charge retail investors an arm and a leg".
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John Ralfe @johnralfe.bsky.social · 22/07/2025
Just been on Times Radio with Kate McCann talking about increasing the SPA, getting rid of the Triple Lock and public sector pensions
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Danny Deraney @dannyderaney.bsky.social · 11/07/2025
On the 36th anniversary of Mel Blanc's passing, a classic. The time he went on Letterman in 1982. Within a minute, he did not disappoint.
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John Ralfe @johnralfe.bsky.social · 02/07/2025
"If Rachel ReevesMP wants to risk our pensions, she should start with her own" telegraph.co.uk/money/pensions… See my latest Telegraph piece on TPRgovuk conflict of interest in last week's newly minted regulatory policy
telegraph.co.uk
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Financial Times @financialtimes.com · 30/06/2025
Dressing up or giving up? The heatwave trials of commuter clothing on.ft.com/3GdMWW3 | opinion
on.ft.com
Dressing up or giving up? The heatwave trials of commuter clothing
Londoners are attempting to adapt their wardrobes to a sweltering Tube journey, with mixed results
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Citizen Screen @citizenscreen.bsky.social · 21/06/2025
On June 21, 1948, Columbia Records introduced the long-playing (LP) record album at a press conference held at the Waldorf-Astoria Hotel in New York City.
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Edwin Heathcote @edwinheathcote.bsky.social · 21/06/2025
Buried deep in the BBC iplayer is this gorgeous film with Martin Scorsese talking about Powell and Pressburger. His commentary is beautiful, insightful and really moving. Recommend it. www.bbc.co.uk/iplayer/epis...
bbc.co.uk
Made in England: The Films of Powell and Pressburger
Eminent American film-maker Martin Scorsese shares his lifelong love affair with the films of Powell and Pressburger.
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John Ralfe @johnralfe.bsky.social · 08/06/2025
“And the bill contains no details of how pensions will be protected if cash is withdrawn. Member security must be a priority with strict rules on repaying amounts if funding deteriorates.”
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John Ralfe @johnralfe.bsky.social · 08/06/2025
“The DWP figures estimate just a fraction of this – under £12bn – will be paid out over the next 10 years, mainly because most companies want a full buyout with an insurance company."
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John Ralfe @johnralfe.bsky.social · 08/06/2025
“Forget about £160bn of pension surpluses just waiting, as Rachel Reeves said, to be paid out to ‘drive growth and boost working people’s pension pots’."
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John Ralfe @johnralfe.bsky.social · 08/06/2025
theguardian.com/business/2025/jun/07/pensions-report-cuts-rachel-reeves-planned-growth-funds-from-160bn-to-11bn?CMP=share_btn_url @theguardian.com article based on my analysis on behalf of PIC. See my quotes
theguardian.com
Pensions report cuts Reeves’ planned growth funds from £160bn to £11bn
Chancellor had anticipated surpluses from final salary schemes would boost investment in UK economy
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John Ralfe @johnralfe.bsky.social · 05/06/2025
"Hello darkness, my old friend"
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John Ralfe @johnralfe.bsky.social · 04/06/2025
telegraph.co.uk/money/pensions/state-pensions/reforms-attack-public-sector-pensions-doesnt-far-enough/ See my latest piece, on MPs' pensions with name checks to Rachel Reeves, Dame Meg Hillier, Dame Harriet Baldwin , @richardtice.bsky.social @nigelfarage1.bsky.social
telegraph.co.uk
Reform’s attack on public sector pensions doesn’t go far enough
I doubt Farage will be rushing to agree a complete overhaul of the unfair system
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John Ralfe @johnralfe.bsky.social · 14/05/2025
telegraph.co.uk/money/pensions
telegraph.co.uk
Pensions
Read The Telegraph's expert advice and the latest headlines on state pensions here.
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John Ralfe @johnralfe.bsky.social · 06/05/2025
EVERYONE should read this
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John Ralfe @johnralfe.bsky.social · 29/04/2025
"Firm but Fair"
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John Ralfe @johnralfe.bsky.social · 27/04/2025
Didn't you have 5 years as pensions minister to tackle this problem?
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Alan Beattie @alanbeattie.bsky.social · 27/04/2025
Fact-check: no they won’t, no they aren’t, no it won’t and no it isn’t.
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Alexander Clarkson @aphclarkson.bsky.social · 25/04/2025
At this point Steve Witkoff at meetings with Putin comes across as one of those socially desperate hedge fund billionaires willing to pay 10 million dollars for Beyonce to sing at their nephew's wedding
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John Ralfe @johnralfe.bsky.social · 23/04/2025
Again, I didn't know that - I read the first of the Cazalets recently
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John Ralfe @johnralfe.bsky.social · 22/04/2025
I didn't know she was a canal fan
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Robert Armstrong @robarmstrong.bsky.social · 22/04/2025
FT comment section still undefeated:
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John Ralfe @johnralfe.bsky.social · 18/04/2025
youtube.com/watch?v=mAto... Ernie Watts on sax makes this (1981)
youtube.com
The Rolling Stones - Waiting On A Friend (From The Vault: Hampton Coliseum - Live In 1981)
YouTube video by Mercury Studios
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John Ralfe @johnralfe.bsky.social · 18/04/2025
The problem with wealth taxes - on.ft.com/4iqdSyX via @FT very interesting by @philipcoggan.bsky.social As I have said before, the BMA has a de facto veto on pension tax policy - many of their members have very large public sector pensions - so no government will ever levy a wealth tax on pensions
on.ft.com
The problem with wealth taxes
Taxing the rich is a tantalising prospect for the cash-strapped UK government — but imposing a levy that is both fair and effective is fraught with difficulty
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John Ralfe @johnralfe.bsky.social · 13/04/2025
A lot of very good replies to my piece - this isn't one of them
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John Ralfe @johnralfe.bsky.social · 12/04/2025
45 x looks pretty compelling!
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John Ralfe @johnralfe.bsky.social · 12/04/2025
Thanks. Although your bond portfolio fell in value as interest rates rose the income - coupon - remained unchanged and the redemption value remained unchanged. Or to put it another way, the cost of buying an annuity also fell. That's the beauty of fixed-income.
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Simon Gompertz @gompertz.bsky.social · 11/04/2025
Worth a read if you have the FT - be wary of claims that shares always outperform the long run
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John Ralfe @johnralfe.bsky.social · 11/04/2025
Are equities ‘always’ better in the long term? - on.ft.com/4i8VKt6 My latest FT piece. "Why won't firms pushing the "equities always outperform in the long run" mantra put their money where there mouth is, & offer a cheap guaranteed equity product?
on.ft.com
Are equities ‘always’ better in the long term?
For most 20-year outcomes, equities will certainly beat boring bonds, but there are many where they will lose
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Helene von Bismarck @helenebismarck.bsky.social · 07/04/2025
"We do not base our choice on the goodness of democracy, which may be doubtful, but solely on the evilness of a dictatorship, which is certain."
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Philip Coggan @philipcoggan.bsky.social · 06/04/2025
After Howard Lutnick claims uninhabited islands may be used to get round Trump tariffs, evidence emerges that Heard Island penguins are disguising themselves as chickens to escape tax
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