All articles by Alex Janiaud – Page 6
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NewsFirefighters receive £3,750 govt payout over Sargeant ‘distress’
On the go: Nearly 9,000 firefighters will receive £3,750 from the government to compensate for anxiety and stress caused by a “government pensions debacle”.
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NewsMini-Budget blows £11bn hole in BT Pension Scheme
On the go: The £46.9bn BT Pension Scheme sustained aa £11bn hit to its assets following the government’s September “mini” Budget, before the Bank of England intervened to stabilise gilt markets.
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NewsLDI funds prepared for ‘much larger increases in yields than before’
Liability-driven investment funds have built sufficient capital to shield themselves from the impact of further spikes in gilt yields, the Bank of England has said.
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NewsGilt yields drop while schemes plan for life after mini-Budget U-turn
Pension schemes are reviewing their asset allocations and resilience to future market shocks, as gilt yields fell in response to the abandonment of most measures presented in the September “mini” Budget.
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NewsPension contributions down as UK faces ‘retirement time bomb’
On the go: Two-fifths of businesses with more than 500 employees have warned that employees are lowering their pension contributions in response to the cost of living crisis, according to one pension provider.
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NewsDWP aims to consult on multi-employer CDC this year
The Department for Work and Pensions will consult on multi-employer collective defined contribution schemes before the end of 2022, according to a senior civil servant.
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NewsBoE demands ‘appropriate levels’ of market resilience
On the go: The Bank of England has called on market participants to learn lessons from the current volatility in gilt markets and has said that it is monitoring the behaviour of liability-driven investment managers, with its gilt-purchasing programme set to end on October 14.
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NewsTPR’s Counsell: DB schemes are not at risk of collapse
Defined benefit pension schemes were not on the verge of collapse before the Bank of England’s gilt market intervention, the Pensions Regulator’s chief executive Charles Counsell has said.
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NewsYields ‘can’t spike again’: Schemes respond to liquidity pressures
Analysis: On September 23, chancellor Kwasi Kwarteng rose to his feet in the House of Commons to deliver a “mini” Budget that would have profound consequences for pension schemes.
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NewsTPR moots LDI power of attorney as Bailey rules out more support
The Pensions Regulator has called on defined benefit pension schemes to review their liquidity, liability hedging and governance processes, suggesting that managers of their liability-driven investments could be granted power of attorney over some assets to quicken trading.
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NewsTPR reached out to BoE for gilt market intervention
The Pensions Regulator has told MPs that it contacted the Bank of England and other regulators before the launch of its gilt-purchasing programme, to establish what actions they could take in response to volatility in the gilt market.
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NewsLDI: Pension funds appeal for more BoE support
Market moves: Some pension funds think the Bank of England’s gilt market intervention should go further, while schemes pull capital out of multi-asset credit funds.
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PodcastsPodcast: How to transform an investment team
Podcast: Newton Investment Management head of sustainable investment Therese Niklasson and Aegon head of responsible investment Hilkka Komulainen discuss how schemes can transform investment teams to drive environmental, social and governance thinking.
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NewsFirst half of 2022 sees record number of bulk annuity deals
On the go: The first half of this year witnessed 78 bulk annuity deals, a record for the period, which registered 19 more transactions than the first six months of 2021.
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NewsProcess non-red-flagged transfers ‘as speedily as possible’
On the go: The Pensions Administration Standards Association has encouraged schemes and administrators to process transfers that do not raise red flags as quickly as possible.
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NewsGovernment prolongs relaxation of NHS pension rules
The government will extend amendments to the NHS Pension Scheme designed at boosting health worker numbers, prolonging measures that were introduced in response to the coronavirus pandemic.
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NewsLDI: Could trustees be sued?
Market moves: A law firm speculates that trustees could be subject to legal action as a result of gilt market instability, the Association of Consulting Actuaries urges defined benefit schemes to review their hedging strategies, and a former pensions minister asks if liquidity pressures will undermine the government’s push for scheme infrastructure investment.
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NewsSome LDI investments ‘worth zero’ without BoE intervention
The Bank of England has told MPs that defined benefit pension fund investments in some pooled liability-driven investment funds would have been rendered worthless without its intervention on September 28.
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NewsCost of living crisis fuels enquiries on amending contributions
On the go: One in five of the pension schemes surveyed by the Pensions and Lifetime Savings Association have received enquiries from savers about reducing or stopping their pension contributions.
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NewsEmployers face contribution calls to maintain schemes’ hedging ratios
The sponsoring employers of defined benefit pension schemes look set to be called on for advances of contributions or additional funding, as schemes seek to preserve their liability hedging and lock in their improved funding levels.