All Defined benefit articles – Page 27
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NewsNational Grid loaned DB schemes £325mn during gilt crisis
On the go: The National Grid stepped in to loan £325mn to two of its defined benefit pension schemes during the recent crisis in the gilt markets at the end of October, according to its latest half-year results.
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NewsFCA highlights investment consultant ‘gap in regulation’
The Financial Conduct Authority has told MPs that it previously pointed to the risks associated with liability-driven investments and suggested the existence of a “gap in regulation” linked to investment consultants, in response to questions over October’s market turmoil and its impact on pension schemes.
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NewsPIC invests £25mn in retirement community
On the go: The £44.1bn Pension Insurance Corporation, in partnership with Octopus Real Estate, has invested £25mn through a joint venture with retirement home developer and operator Elysian Residences, to develop the How Wood retirement community, which is valued at £115mn.
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OpinionThe outlook for credit remains strong
It has been an extraordinary few months in UK politics, and a worrying time for some of the country’s largest investors.
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NewsUniversities set for ‘biggest ever’ strikes over pensions
More than 70,000 staff at 150 universities will go on strike for three days in November, in the latest escalation of a dispute that includes disagreement over the valuation of the Universities Superannuation Scheme.
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NewsEssex commits £100mn to carbon offset impact fund
On the go: The circa £9.3bn Essex County Council Pension Fund has made a £100mn anchor commitment to the Stafford Carbon Offset Opportunity Fund as it further expands its global timberland portfolio and accelerates its transition to net zero.
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NewsACA pushes new pensions minister for early extension of CDC
On the go: Laura Trott has been urged by the Association of Consulting Actuaries to extend collective defined contribution schemes to more savers as a way of boosting pension savings.
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NewsBoE director calls for greater regulatory oversight on leverage
The Bank of England’s executive director for financial stability strategy and risk has called on regulators to review how leverage is managed, in the wake of a liquidity crisis in October triggered by a spike in gilt yields.
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NewsBMA warns of spike in early retirements over tax relief reforms
The British Medical Association has warned that the number of doctors choosing to reduce hours or retire early would increase were the government to proceed with reported plans to freeze the pensions lifetime allowance past 2026.
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NewsFiduciary managers rip up schemes’ investment guidelines
On the go: Some fiduciary managers have altered investment guidelines for all of their clients in light of October’s market turmoil, which saw schemes scramble for liquidity in response to collateral calls from liability-driven investment managers.
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NewsPPF introduces new ESG voting guidelines
On the go: The £39.4bn Pension Protection Fund has brought in new environmental, social and governance voting guidelines for its listed equity holdings, across both segregated and pooled mandates.
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NewsLGPS employer contributions could rise despite improved funding
The Local Government Pension Scheme Scheme Advisory Board has noted the possibility of employer contribution rates rising, despite the expectation that many local authority schemes will have improved their funding positions — or even moved into surplus — as of March 31 2022.
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NewsBrexit date hands victory to DWP in PPF assessment appeal
The Employment Appeals Tribunal has handed a near-complete victory to the Department for Work and Pensions over a ruling that threatened limits paid to members of the Pension Protection Fund, having concluded that the majority of respondents no longer had rights against age discrimination that had been grounded in European law.
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NewsSainsbury’s sets up £500mn loan to DB scheme for LDI crisis
Sainsbury’s has set up a £500mn loan facility to ensure its defined benefit scheme has enough liquidity to face collateral calls on its liability-driven investments.
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NewsBank of England raises interest rate to 3%
On the go: The Bank of England has raised interest rates to 3 per cent, its highest rise since 1989.
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NewsUK gender wealth equity lags Europe at retirement
On the go: The UK has one of the largest gender wealth gaps in Europe, sitting below the global average and only just above the Netherlands, which is in last place for the continent.
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NewsNest and Sainsbury’s members shrug off LDI crisis
October’s market turmoil and the slump in UK government bonds did not trigger a spike in Nest members checking their defined contribution pots, the research arm of the government master trust has said.
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NewsLondon Pensions Fund Authority sets net zero targets
On the go: The £7.6bn London Pensions Fund Authority has launched a plan to target net zero, starting with its listed equities portfolio, aiming to reach the goal by 2040.
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NewsProfit warnings from DB sponsors jump 38%
On the go: Profit warnings issued by UK-listed companies with defined benefit pension schemes increased by 38 per cent year on year in the third quarter of 2022.
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NewsAgfa UK Group Pension Plan signs £200mn buy-in
On the go: The Agfa UK Group Pension Plan has completed a second annuity buy-in with Standard Life, covering the vast majority of the fund’s remaining liabilities.