It is an inconvenient truth that despite the improving fortunes of the UK DB sector, sponsors will fail and leave schemes stranded. Too often, trustees' lack of contingency planning leaves members in the lurch when an employer becomes insolvent, leading the Pension Protection Fund to issue guidance to schemes on how to prepare for the worst.
Active managers unable to mitigate late 2018 volatility
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April 23, 2019
Data crunch: For active managers, the ultimate test of mettle will always be whether they can beat their benchmark. As of the end of 2018 the news looks good for stockpickers specialising in UK equities, but analysts say there are still concerns behind the numbers.
Global Pensions Wrap: April 19 edition
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April 18, 2019
A round-up of the pensions industry stories published across the FT Group – from a US pension's sustainable portfolio plans, to talks between foreign insurers and Chinese officials over the country's private pensions space.
Government releases guidance on GMP equalisation
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April 18, 2019
On the go: The Department for Work and Pensions has set out a 10-stage process for UK pension schemes to equalise guaranteed minimum pensions.
Rethinking DC: Strategies for better outcomes in retirement
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April 17, 2019
As the government's second rise in auto-enrolment contributions hits workers, experts at a recent Pensions Expert event debate what steps the industry needs to take to develop defaults that help members achieve their goals in retirement
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Select committee turns focus to Railways Pension Scheme deficit
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April 16, 2019
The Work and Pensions Committee has written to the Pensions Regulator over what it called the “staggering, parlous state” of the £25.5bn Railways Pension Scheme.
South Yorkshire Pension Authority invests £80m in local region
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April 11, 2019
South Yorkshire Pension Authority has announced plans to ramp up its local investing efforts, committing £80m to lending aimed at supporting property development in Sheffield and extending an existing allocation to another Yorkshire-based property fund.
Comment & Analysis
Administration transfers: Do not let one partner step on the other's toes
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April 24, 2019
Chris Tagg and David Pharo of the Pensions and Administration Standards Association outline new guidance for changing third-party administrators, stressing the importance of one partner leading throughout the process.
In pensions as in Brexit, it pays to plan for the worst
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April 23, 2019
Editorial: The government would not be expected to flirt with the prospect of not achieving a Brexit deal without prior contingency planning. It is time for pension fund trustees to think carefully about what they would do if their sponsor goes under.
Why schemes cannot rely on credit strategies alone for CDI
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April 17, 2019
Cash flow-driven investing is flavour of the month with managers and consultants, but River and Mercantile's Mark Davies says a credit-reliant implementation of this strategy does not mitigate as much risk as trustees might assume.
Videos & Podcasts
Is LGPS governance up to scratch?
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April 3, 2019
Podcast: From asset pooling and actuarial valuations, to administration and data, local government pension schemes have a lot to think about this year – meaning good governance is more important than ever. In this podcast episode, Kirsty Bartlett, partner at law firm Squire Patton Boggs, and Ian Colvin, head of LGPS benefits and governance at Hymans Robertson, discuss potential conflicts of interest, pressure on fund resources and the importance of focusing on administration.
How to select the right master trust
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March 20, 2019
Podcast: Master trusts have until the end of March to complete their applications to the Pensions Regulator for authorisation. In this PE podcast episode, Ian McQuade, director at Muse Advisory, discusses master trust selection and how the watchdog's authorisation and supervision regime will change the market.
Improving the quality of professional trustees
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March 12, 2019
Podcast: Last month, the Professional Trustee Standards Working Group published a set of new standards, which all professional trustees will be expected to meet. The group is also due to launch an associated accreditation framework later this year. In this episode of the PE podcast, Rachel Croft, director at Independent Trustee Services, explains what these new standards mean for schemes, how they will improve professional trustee quality, and whether increasing professionalisation and rising workloads could lead to the extinction of the lay trustee.