Lafarge pension scheme enters into longevity swap to reduce risk

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The Lafarge UK Pension Plan has entered into a longevity swap with a global reinsurance company, in a bid to reduce the scheme’s exposure to longevity risk.

The Weekly Wrap: February 16 edition

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A round-up of the pensions news stories published across the FT Group this week, from Texas pensions turning to emerging managers, to Luxembourg's financial regulator developing robot supervisors.

How to beat volatility in 2019

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Volatility made its grand return to many of the key markets in which pension funds invest assets towards the end of 2018, driven by geopolitical instability and fears that the end of a long business cycle may finally be nigh. 2017 seems a long way away. Angus Peters explores reasons to be cheerful despite the gloomy outlook.

UK schemes slash equities following long bull market

The global financial crisis gave rise to a record-long bull run, but in recent years many DB pension funds have been preparing for the inevitable end to these highs by reducing their reliance on equities.

New criminal sanctions could be difficult to enforce, experts say

The government has said that it plans to go ahead with proposals for new criminal offences to prevent and penalise mismanagement of pension schemes, but enforcing these sanctions may prove challenging, experts say.

Comment & Analysis

How to beat volatility in 2019

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Volatility made its grand return to many of the key markets in which pension funds invest assets towards the end of 2018, driven by geopolitical instability and fears that the end of a long business cycle may finally be nigh. 2017 seems a long way away. Angus Peters explores reasons to be cheerful despite the gloomy outlook.

As Pensions Expert becomes monthly, new pensions challenges emerge

Angus Peters

Editorial: The level of complexity in the decisions made every day by trustees and pension scheme managers seems to ratchet up with every passing month. I hope our new magazine will allow these vital topics the depth they need, and retain the concise and analytical approach that has made the title so successful over its 20-year history.

Trustees must go the extra mile for their members on transfers

Jo Cumbo (teaser)

In her first article for Pensions Expert, new columnist and Financial Times pensions correspondent Josephine Cumbo says industry support for ‘scheme pays’ arrangements could help members avoid poor transfer advice.

Videos & Podcasts

How to approach the bulk annuity market

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Podcast: 2019 is predicted to break last year's record for bulk annuity deals. But with insurers being more selective, experts have stressed the need for defined benefit pension scheme trustees to make sure they are well prepared before approaching the market. In this episode, Marian Elliott, head of integrated actuarial at consultancy Redington, discusses the main drivers behind increased derisking activity in recent years, and explains how pension funds should prepare for transactions.

ESG: Trustee investment duties explained

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Podcast: New regulations coming into force this year mean pension schemes will be required to publish more-detailed statements of investment principles. These will address financially material environmental, social and governance risks, such as climate change. In this episode, Stuart O'Brien, a partner at law firm Sackers, discusses recent ESG-related developments, the danger of conflating ethical matters with ESG considerations, and explains how schemes can respond to member and pressure group queries.

A closer look at DB consolidation

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Podcast: Last month, the government published a consultation on the consolidation of defined benefit pension schemes. What is the outlook for DB superfunds? And what should trustees consider if they are thinking about switching from a sponsor covenant to a consolidator covenant? In this episode, Alex Hutton-Mills, managing director at Lincoln Pensions, and Paul McGlone, president of the Society of Pension Professionals, discuss the consultation and whether early adopter nerves are holding back inflows to the new DB consolidators.