All articles by Benjamin Mercer – Page 38
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News
Suffolk holds firm through equity volatility storm
Suffolk Pension Fund has reported a bounceback in its asset values after taking a £327m hit in the first quarter of the year, as experts said it is still legitimate for immature defined benefit schemes to lean on the equity risk premium.
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NewsUSS divests from coal, tobacco and weapons manufacturers
The UK’s largest pension scheme has announced it is to divest from selected coal, tobacco and weapons manufacturers, following years of campaigning by members and activist groups.
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News
Small scheme bulk annuity deals set for surge in demand
On the go: The number of small scheme buy-ins and buyouts could increase by 25 per cent in 2020, according to research from LCP.
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News
LGPS has £2bn invested in alleged ‘illegal Israeli settlement’ companies
Thirty-three Local Government Pension Scheme funds retain investments worth more than £2bn in arms manufacturers and in companies accused of supporting illegal Israeli settlements, as some of these schemes opt for engagement instead of divestment.
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News
Regulator to issue new guidance on capital-backed endgame deals
The Pensions Regulator is to issue new guidance on defined benefit employers seeking to use third-party investors to back the cost of buyout, following the completion of a first-of-a-kind deal without the need for regulatory clearance last week.
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News
High Court delivers another CPI setback
Employers seeking to switch their defined benefit pension schemes from the retail price index to the consumer price index have been dealt another blow, as the High Court yet again refused to establish a precedent.
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PodcastsPodcast: The days of ‘amateurish’ trusteeship are over
Podcast: The challenges posed by Covid-19 will accelerate the move toward professional trusteeship, according to Mercer’s chief actuary Charles Cowling, who argues that the responsibilities in this area post-coronavirus will be too much for lay trustees to handle alone. He and Catherine McFadyen, head of public sector actuarial, benefits and governance at Hymans Robertson, discuss LGPS funding, the impact of mortality rates, and give their predictions about the post-crisis world.
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NewsBritish Airways resumes pension transfer activities
British Airways is to resume its pension transfer activities following a short suspension due to the impact of the coronavirus crisis, Pensions Expert can reveal.
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News
BT Openreach sell-off leaves key questions for trustees
On the go: Trustees of BT’s colossal £50bn defined benefit pension scheme faced a number of important questions after rumours emerged that the telecoms giant was looking to sell its most profitable division.
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News
Implementation hurdles in opportunistic strategies
On the go: The coronavirus crisis presents a number of opportunities for savvy investors, but schemes should be wary of inflated estimates of return, according to a new report from Bfinance.
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News
Local government pension schemes invest in bank guilty of tax evasion
A number of local government pension schemes have come under fire over their investments in a troubled Israeli bank, according to research seen by Pensions Expert.
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News
Analytics firm completes global bulk annuity deal with L&G
On the go: Analytics company IHS Markit has entered into two bulk annuity deals with Legal & General, the insurer’s first global transaction.
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News
Regulator to be empowered by expansion of ‘snoopers’ charter’
The Pensions Regulator is to be given new powers including the right to harvest communications data, in order to prevent “serious crime”, according to draft legislation published last month.
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News
Falling support for TPR’s new funding regime
On the go: Support for the Pensions Regulator’s vaunted new defined benefit funding regime may be falling, according to a report by Aon.
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NewsUnion considers AA scheme closure ‘significant attack’ on members
The recent closure of the Automobile Association defined benefit scheme – following a consultation with scheme members and trustees – has been branded a “significant attack on members’ benefits” by trade union GMB.
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News
Nest member waits two years to recover £80 in missed contributions
The Pensions Ombudsman has finally brought to a close a woman’s two year hunt for £80 in missed contributions from her employer.
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News
LGPS cash flow problems mount as Covid-19 crisis continues
A number of local government pension schemes face cash flow problems as a result of the coronavirus crisis, according to a recent survey.
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Features
Coronavirus hits unhealthy DB schemes hard
Data crunch: A new report from consultancy Barnett Waddingham has found that the coronavirus crisis has exacerbated the funding divide between UK defined benefit schemes, with severe implications for those at the bottom of the pile.
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News
Regulator concerned by master trust investments weaknesses
Investment strategies pursued by some of the UK’s authorised master trusts are exposing pension scheme savers to unnecessary risks, according to the Pensions Regulator.
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News
Investors tell Barclays to go further on climate commitments
On the go: Two Local Government Pension Scheme investors are to back a shareholder resolution aimed at forcing Barclays into line with the Paris Climate Agreement targets.