Are you a Pensions Trustee Black Belt?

Our Pension Trustee Black Belt Challenge consists of 11 short, multiple choice surveys and is designed to provide you with a granular appraisal of your capabilities and aptitudes when it comes to your role on the board.

It is not expected that all trustees will obtain similar scores across the spectrum, but the platform to recognise one's strengths and indeed weaknesses will provide you with an insight into where you're performing your role to a high standard, as well as the areas in which you may benefit from improvement.

The second Challenge is Capital Markets Expert - start it now

Are you a capital markets ninja? Test your understanding of the detailed mechanics of the capital markets.

For further background to the Black Belt Challenge, read this blog from our CEO, Stuart Breyer:
How to get your Black Belt in Pensions – without any bruises!

Complete the following questions and enter your email address at the bottom to receive your Trustee Black Belt score.

"LDI" is something of a mystery to me

I can confidently explain what is meant by "duration of the liabilities"

Black Scholes is

There is no such thing as a "swaption"

I know how to calculate a discount factor using an Excel spreadsheet

I can explain and illustrate what is meant by "convexity", in the context of the pension plan's liabilities

I understand how a swap works

In this super-low interest rate environment, pension plans may consider selling a receivers swaption, if appropriate

I can confidently explain "PV01"

I am more comfortable discussing the equity markets than interest rates and inflation

I can confidently explain the term "negative real yield"

I cannot explain the difference between a "stochastic" process and a "deterministic" one

I tend make decisions based on cold facts and hard experience

I understand the detailed mechanics by which the pension plan's deficit is linked to interest rates and inflation

In this super-low interest rate environment, pension plans may consider selling a payers swaption, if appropriate

The LIBOR fixing scandal has put me off using derivatives

I can confidently explain "The Z Spread"

If I wanted to protect the pension plan against a fall in the equity markets I might consider selling a put spread

I can talk knowledgeably on the topic of swaps and collateral posting

I know what a receivers swaption is

I can describe a secured funding transaction

I have no idea what a negative basis trade is

I know what "vega" means

I know what "vol" and "skew" are