All Defined benefit articles – Page 194
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Features
Imperial Tobacco ups employer contributions after funding drop
Imperial Tobacco has increased contributions to its UK defined benefit scheme to boost its winding-up funding level, which has dropped by 12 percentage points, according to its latest valuation.
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Features
Barking and Dagenham plans social housing investment to hedge inflation
The London Borough of Barking and Dagenham Pension Fund plans to invest around £25m in social housing in order to hedge against inflation and diversify away from traditional assets.
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NewsPearson scheme reaches full funding due to increased employer contributions
The defined benefit section of the Pearson Group Pension Plan has reached close to 100 per cent funding less than 18 months after agreeing a reduction in the length of its recovery plan.
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Features
Local government schemes reject forced passive CIV proposals
Local authority schemes have rejected government proposals to mandate pooling assets into a passively managed common investment vehicle, but did see benefits in other suggestions put forward.
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Features
EE closes scheme to future accrual on affordability concerns
Telecoms company EE has closed the defined benefit section of its scheme to future accrual in order to equalise benefits offered to members in a structure which will be more sustainable for the company.
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Features
Are iPads harming or helping trustee boards? The cases for and against tablet governance
Any other business: In the technology world, a recently unearthed speech by Steve Jobs in 1983 predicting the world dominance of the personal computer is clear evidence of the Apple co-founder’s vision.
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Features
Isle of Wight fund mulls ethical investment policy after council reclaims public health role
Isle of Wight Pension Fund is considering setting its own policy on social, environmental and ethical factors to be considered when making investment decisions, after the council took back responsibility for public health.
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News
Covenant-lite market expands as small schemes digest DB code
Small and medium-sized employers’ pension schemes are finding greater access to pared-down, lower-cost covenant assessments following the Pensions Regulator’s revised defined benefit code of practice, which has increased focus on employer strength.
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NewsKingfisher nears surplus following sponsor property deal
Kingfisher Pension Scheme has revealed that a funding deal with its sponsor, which sees it draw from income-generating properties, has pushed its funding level close to 100 per cent.
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NewsReturning volatility could threaten illiquid fixed income holdings, experts say
Pension scheme investors holding illiquid fixed income assets should beware the effects should increased volatility in global financial markets return, bond experts have urged.
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News
Lothian adds benefit extension as it looks to upgrade online services
Lothian Pension Fund has extended its online member services to allow members to calculate the pension they would get under voluntary redundancy, as well as introducing a data transfer system for employers to ensure accuracy.
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Features
How the DA pensions bill could affect your scheme
Schemes have been left pondering how their benefit structures would be considered under the the government’s latest pensions bill, which codified three types of pension scheme, including “shared risk” schemes.
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News
One in seven trustees think sponsor relationship needs work
Around one trustee on each board feels their relationship with the scheme sponsor needs to be improved, according to a survey of 100 scheme representatives, conducted as fresh regulation seeks to strengthen this bond.
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News
Northern Powergrid scheme looks to reduce risk with new investment strategy
Northern Powergrid Group Pension Scheme is exploring alternative means of reducing risk as its investment strategy matures, and is reviewing its property investment after “stagnant” performance.
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Opinion
How to set up your scheme’s derisking strategy
In the latest edition of Technical Comment, Quantum’s Rob Davies explains how to set a derisking strategy that makes well-timed investment decisions that provide good value to the scheme.
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Opinion
Altmann: Exceptional measures needed as monetary policy tightens
Speaking to pension trustee boards, they are clearly grappling with the challenges of managing their investment strategy in today’s exceptional times.
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News
Schemes plough £24bn into gilts despite low yields
Pension schemes compelled last year to derisk at historically low yields quadrupled the previous year’s gilt purchases, according to official data that have left investment experts surprised.
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FeaturesSiemens shrinks deficit with asset-backed funding deal
Engineering and electronics company Siemens has set up a Scottish limited partnership for its UK defined benefit scheme to provide additional security for members, shutting a large part of its deficit and stabilising the company’s cash flow.
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News
Daily Mail grabs alternative inflation linkage in place of pricey gilts
The Daily Mail and General Trust pension fund has used alternative assets to provide inflation linkage, after demand and monetary policy drove up the cost of using gilts to mitigate inflation risk.
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Opinion
A scheme guide to swaps, swaptions and all things LDI
Axa IM’s Jonathan Crowther gives a ground-up description of the derivatives that liability-driven investment managers use to mitigate against key funding risks, in the latest edition of Technical Comment.