GLOBAL - I am writing this from a very rainy Lake District, where I am helping my mother convalesce after an operation.
Spotting me hunched over my laptop this morning she asked me what was going on in the world of pensions.
I told her that I was reading a press release from the Marathon Club, the organisation set up to promote an understanding of the long term nature of pension funds.
I said it had called for a debate on the damage IAS19 accounting standards were wreaking on defined benefit pension schemes - adding that while this was hardly a new issue it was good to see people attempt to fan the fires of this debate.
I also explained that accounting standards had long been a pet subject of mine - and, despite many years of investigation, I still struggled to understand the rational behind marking pension liabilities to market.
Unsurprisingly she was more than a little confused by all this. There was I assured her nothing to be concerned about when it came to being confused about pensions and accounting standards, but attempted to explain the whole things thus.
My wife, Mrs Beveridge, is now 26 weeks pregnant with our first child. This is, many people assure me, a very large financial liability which will stretch out over the region of at least two decades.
Under IAS19 rules Mrs Beveridge and myself - otherwise known as the sponsors - need to acquire some sort of fully funded status as soon as possible.
For this I need to ask one of my actuary friends to work out how much it will cost to bring my child up in the comfortable middle class existence into which we are fortunate enough to currently reside.
Having arrived at this figure we must make sure that this is all available and properly invested to hedge against inflation, deflation and interest rate risk (luckily the longevity bit does not come into this because baby Beveridge will be a relatively fixed term liability with the expectation he will be earning his own cash by at the age of 25 at the latest).
My mother suggested that it made no sense to have all the cash up front as most of my liabilities would not become due for many years.
Yes I replied, but what happens if I go broke between now and when I need to meet my liabilities? To which she replied that if I tried to meet all my liabilities now I would definitely be broke and if people were forced to adopt this accounting method for dealing with baby Beveridge type liabilities then hardly anyone would ever have children.
Which kind of summed it all up nicely, I thought.
This week's edition of Professional Pensions is out now.
The government is in talks with the UK and Irish pensions regulators over how to protect members of cross-border schemes in the event of a no-deal Brexit.
The equalisation of guaranteed minimum pensions (GMPs) is at least two years away from being completed, and could take longer than four years for some schemes, a poll has found.
The Pensions Regulator will consider if schemes should be required to have professional trustees and assess the case for greater regulation of administrators and system providers, PP can reveal.