DB & DeriskingRSS

NHS staff offered ‘partial retirement’ with scheme eligibility expanded


Members of the NHS Pension Scheme will have the option of ‘partial retirement’ under proposed government reforms aimed at stemming the flow of health workers leaving the NHS.

‘Lower leverage is here to stay’: industry responds to LDI inquiry

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The use of leverage in liability-driven investments should be reassessed, according to respondents to a Work and Pensions Committee inquiry.

Why do savers continue to misunderstand their pensions?


Analysis: The pensions industry spends extensively on member communications, but 48 per cent of employees do not know how much their employer is paying into their pension, according to a survey by The People’s Pension.

PPF: Funding worsened for some schemes due to market turmoil

Matthew Lloyd/Bloomberg

The Pension Protection Fund is expecting some schemes to have a deterioration in funding due to the forced selling of assets in response to market turmoil, despite the overall improvement in the defined benefit sector, its chief finance officer and chief actuary has said.

Musicians’ Union scheme agrees full buyout

News on the go

On the go: The £13mn Musicians’ Union Permanent Officials and Staff Pension Fund has agreed a full buyout with Aviva.

FCA: Liquidity buffers are a ‘necessary but partial solution’

News on the go

On the go: The Financial Conduct Authority has urged managers of liability-driven investment funds to learn the lessons of the autumn liquidity crisis, claiming that liquidity buffers represent only part of the solution to future volatility.

TPR investment lead mulls role of ‘groupthink’ in LDI crisis


The Pensions Regulator’s lead investment consultant, Fred Berry, has suggested that industry ‘groupthink’ may have played a part in creating the conditions for the liquidity crisis that engulfed defined benefit pension schemes in the autumn.

TPR expects improved LDI liquidity buffers to be maintained

Chris Ratcliffe/Bloomberg

The Pensions Regulator has set out its expectation that liquidity buffers be maintained across pooled and leveraged liability-driven investment mandates, going beyond the demands of Irish and Luxembourgish regulators.

Balfour Beatty Pension Fund completes £1.7bn longevity swap

News on the go

On the go: The £4bn Balfour Beatty Pension Fund has signed a £1.7bn longevity swap transaction with Zurich Assurance and Scor.

LDI pooled funds determined Bank of England intervention

Maja Smiejkowska/Reuters

The Bank of England’s bond market intervention was determined by the lack of ability of liability-driven investment pooled funds to receive the liquidity needed from schemes to rebalance in a short period of time, Andrew Bailey has revealed.