All Defined benefit articles – Page 202
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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.
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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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Features
Islington to build on residential property bet in alts push
Islington Council’s pension fund plans to reduce its allocation to equities and diversify further into alternatives, in a stated desire to gain greater and more stable returns.
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Opinion
Has the shine come off emerging markets? Five key charts
Apparently so, according to a report released this week by Create Research and Principal Global Investors. Emerging markets have been plagued with underperformance for years and were hit especially hard when the US Federal Reserve announced its plans to begin tapering its quantitative easing programme.
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News
Buy-in market predicted to reach new heights
The amount of scheme liabilities underwritten by insurers is expected to reach a record high this year as buy-ins become more affordable and scheme confidence grows, derisking consultants have said.
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News
Revised DB code emphasises integrated risk management
The Pensions Regulator this week released a new code of practice for defined benefit schemes, focusing on trustees and employers working collaboratively on scheme funding.
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News
Override sought ahead of state pension reforms
Legal experts have called for a statutory override in scheme rules to avoid members getting more benefits than originally intended from bridging pensions, as the industry approaches the switch to a single-tier state pension in 2016.
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Opinion
How to encourage scheme member representation
Quantum Advisory’s Phil Farrell looks at how pension schemes can improve scheme member representation and in doing so boost their scheme governance, in the latest edition of Technical Comment.
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Features
BAA picks long-lease property as schemes hunt inflation linkage
BAA Pension Scheme has allocated £100m to long-lease property, as defined benefit schemes continue to invest in the asset class to act as a long-dated inflation hedge, consultants have said.
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Features
Shell surpasses legal minimum by equalising same-sex spouse benefits
Shell has gone above the legal minimum to guarantee same-sex married couples equal spousal benefits in its defined benefit pension fund, while other schemes have maintained a tiered benefit for same-sex partners.
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Opinion
DB-DC transfer uncertainty compounds schemes’ demographic challenge
In the latest edition of Technical Comment, Towers Watson’s Sadie Hayes discusses how the maturing of defined benefit scheme liabilities has been complicated by the Budget reforms.
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Opinion
NAPF: A pathway to meet today’s funding challenges
Talking head: The NAPF’s Paul Lee discusses the central funding challenges facing defined benefit pension funds, and how managers and trustees are addressing them.
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NewsPPF targets transparency with insolvency levy changes
Schemes will be able to more precisely focus their efforts to reduce their Pension Protection Fund levy, following the lifeboat’s proposals to make its insolvency risk system more transparent.
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News
PPF assesses out-of-cycle valuations for schemes affected by 'money purchase' definition
The Pension Protection Fund launched a consultation last week to assess the material change in risk to the lifeboat brought about by the changes to the definition of money purchase benefits, which will come into force later this year.
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NewsGilt yield falls confound expectations and depress funding
Investment advisers have been taken by surprise by the recent drop in government bond yields which have inflated schemes’ liabilities and delayed derisking strategies.
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NewsPharma company sees tenth of staff up contributions after face-to-face comms
Pharmaceutical company Bayer has seen increased engagement from employees towards pension saving after a communication campaign relying heavily on face-to-face interaction.
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Features
Mercer parent shuts DB scheme to equalise benefits
Marsh & McLennan Companies, the US-based parent of global consultancy Mercer, has decided to close its UK defined benefit scheme to future accrual in a stated attempt to create a level playing field between employees.
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NewsNext splits pension fund in bid to turn buy-in to buyout
High-street retailer Next is planning to complete a partial buyout worth around £150m within three months, after completing an innovative split of its pension fund to hive off the lion’s share of its pensioner liabilities.
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News
University calls for greater employer control within LGPS
The University of East London has called for a greater say in the running of the Barking & Dagenham Pension Fund, as it says funding the scheme has become a growing financial burden.
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Opinion
Regulator's corporate plan: AE, funding, and trustee training
The Pensions Regulator has laid out its corporate plan for the next three years, in which it sets out plans to review its approach to ensuring high standards of governance and administration for schemes. It will also seek to improve the knowledge and understanding of trustees.