The Severn Trent Pension Scheme has agreed a new asset-backed funding strategy with its sponsor, following a year which saw its accounting deficit more than double despite derisking measures.
A number of local authority schemes have faced administration challenges and missed deadlines after implementing new software, as the provider struggled with capacity troubles.
The HSBC Bank UK Pension Scheme has selected a multi-factor fund with a tilt towards low-carbon businesses as the equity component of its default offering, a switch that will see £1.85bn of defined contribution savers' money invested in line with green principles.
The British Coal Staff Superannuation Scheme has opted to stop sending monthly paper payslips to its members from August 2017, saving the fund almost £400,000 a year.
The trustees of the New Airways Pension Scheme have agreed a new funding arrangement with sponsor British Airways, a move that saw share prices in BA’s parent company International Airlines Group soar by more than 5 per cent on Wednesday.
The North East Scotland Pension Fund has taken further steps to diversify its growth portfolio, divesting from underperforming global equities and allocating to a range of private equity houses and diversified growth funds.
Screwfix and B&Q owner Kingfisher’s defined benefit fund has extended its programme of hedging interest and inflation risk, allowing the scheme to maintain its strong funding level amid a low-yield environment.
The Strathclyde Pension Fund has made large allocations to both private debt and multi-asset credit as it looks to take advantage of the growth in non-bank intermediaries.
Two UK defined benefit schemes operated by technology company Smiths Group have said they will implement guaranteed minimum pension equalisation but need further clarification from the Department for Work and Pensions to do so.
The Royal Mail Pension Plan has diversified the alternatives investments in its portfolio, adding new private debt and infrastructure funds, while almost eliminating its exposure to equities in one of its sections.