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The Weekly Wrap: October 20 edition

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A round-up of the pensions industry stories published across the FT Group – from a Japanese fund’s planned use of artificial intelligence to scrutinise asset managers, to a pensions revolt against Facebook chief executive Mark Zuckerberg.

What does the future hold for LDI?

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Podcast: The popularity of liability-driven investment strategies among defined benefit pension funds has increased over the years. In 2017, the total notional value of liabilities hedged by LDI strategies continued to grow, rising to £965bn from £904bn, according to XPS Pensions research. In this episode, Nick Harvey, principal at XPS Pensions, discusses how scheme exposure to LDI has changed over time, and what the future holds for this type of investment strategy.

The Weekly Wrap: October 13 edition

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A round-up of the pensions news stories published across the FT Group this week, from the government's plans to right a tax relief injustice facing low earners, to a responsible investment sceptic taking over the presidency of one of the world's largest pension funds.  

Cash flow management is DB's new admin headache

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From the blog: The balance of payments for defined benefit pension schemes has shifted. With estimated active DB members numbering less than 500,000 and more than 5m members in receipt of their pension, most DB schemes have a negative cash flow.

As contribution receipts dwindle and payrolls increase, administrators, trustees and investment consultants are working more closely than ever to ensure cash management policies keep the treasury wheels turning.

Two fundamental starting points to consider are the acceptable level of deposit cash, commonly held at very low-interest rates, and how quickly access to top-ups can be obtained.

Read the full blog post

BBC matches cash flows after strong 2017 returns

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The BBC Pension Scheme has slashed its exposure to equity markets, in an attempt to lock in recent outperformance with liability-driven investment, private credit and alternative matching assets.

How will scheme exposure to real estate evolve post-Brexit?

The UK's vote to leave the EU has led to a difficult cycle for real estate, so should trustees be concerned about their UK property holdings?  

The Weekly Wrap: October 5 edition

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A round-up of the pensions news stories published across the FT Group this week, from a lawsuit accusing leading investment banks of stock-lending conspiracy, to potential spending cuts in UK schooling after an employer pension contributions increase. 

DC default design: Make sure you understand your members

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Podcast: Last month, Pensions Expert reported that trustees of the Lloyds Bank Pension Scheme No.1 had overhauled the default offering for their DC members. In this episode, Lydia Fearn, head of DC and financial well-being at consultancy Redington, and Maria Nazarova-Doyle, senior investment consultant and head of DC investment consulting at JLT Employee Benefits, discuss the most important factors for trustees to consider when designing or reviewing their default investment strategy.

When member engagement should take a knee

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From the blog: Pension schemes are under increasing pressure to invest responsibly. On this side of the pond, this discourse largely revolves around environmental and social investment.

But in the US, ethical investing has taken a very different shape at one fund. Last month, a retired police officer called upon the council responsible for New Jersey's public pension fund to review its holdings in sportswear giant Nike.

Marty Barrett, who sits on the board of trustees for the Police and Firemen’s Retirement System of New Jersey, reportedly objected to a Nike advertisement featuring American football star and civil right campaigner Colin Kaepernick.

Click here to read the full blog post