All Defined benefit articles – Page 31
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NewsIMI 2014 Deferred Fund signs £175mn partial buy-in
On the go: The £563mn IMI 2014 Deferred Fund has signed a partial £175mn buy-in with Pension Insurance Corporation.
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OpinionTurbulent weather ahead for DB schemes
USS Investment Management chief executive Simon Pilcher details the current risks faced by defined benefit schemes, and how an investment strategy should be based on balance, diversification and resilience.
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NewsRoyal Mail scheme hires BlackRock to manage assets
On the go: The circa £13bn Royal Mail Pension Plan has hired BlackRock to handle £8.8bn worth of its defined benefit scheme assets as an outsourced chief investment officer.
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NewsGovernment proposes changes to LGPS cost-control mechanism
The government is proposing a series of changes to the Local Government Pension Scheme cost control mechanism, aligning it with other public sector plans while giving more discretion to the Scheme Advisory Board.
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NewsManagers using LDI debacle to ‘grab assets’ from schemes
Asset managers are using the liability-driven investment turmoil as an excuse to “grab assets” from defined benefit schemes by demanding buffers higher than those recommended by the regulators, a former fund manager has revealed.
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NewsMorrisons scheme secures buy-in on back of gilt yields rise
On the go: The Wm Morrison 1967 Pension Scheme has agreed a £762mn buy-in with Rothesay, securing the remainder of the liabilities for the 1967 section of the Morrisons Retirement Saver Plan.
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NewsNuclear sector DB schemes reform to go ahead after 5-year delay
The House of Lords has approved amendments to the energy bill that will allow the two nuclear public sector schemes to be reformed in line with government policy, five years after originally planned.
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NewsChemical company scheme agrees £430mn buy-in
On the go: The Tioxide Pension Fund has agreed to a £430mn buy-in with Legal & General.
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NewsNew DB funding code could cost employers up to £34bn
The Pensions Regulator estimates that the defined benefit funding code could have a cost for employers of up to £34bn, which has prompted consultancy LCP to call on the government to give more time to sponsors to adjust to the new regime.
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NewsLDI turmoil could reduce DB schemes’ investment in illiquids
The fallout from the September market turmoil will be “wide-ranging” for UK defined benefit schemes, with regulatory changes influencing their capacity to invest in less-liquid growth strategies, according to a new report from Bloomberg Intelligence.
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NewsFull scheme buy-ins to dominate market in 2023
On the go: With many defined benefit schemes advancing in their derisking plan due to higher gilt yields, WTW is expecting full scheme buy-ins to dominate a “busy market”.
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NewsTPR delays investment data collection from DB schemes
The Pensions Regulator will not be collecting data on fiduciary management and investment consultants from defined benefit schemes as part of its 2023 scheme return, which can present a “gap in compliance”, experts have warned.
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News‘Nightmare’ inflation eases slightly to 10.5%
On the go: The rate of inflation dropped slightly in December as the price of fuel and clothing eased. However, concerns are growing that wage rises are embedding inflation into the economy.
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NewsUniversities staff to strike again over pay and pensions
On the go: More than 70,000 staff at 150 universities will strike on February 1, in a dispute that includes disagreement over the 2020 valuation of the Universities Superannuation Scheme
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NewsLDI funds sold £23bn of gilts during market turmoil
Liability-driven investment funds sold £23bn of gilts in three weeks during the market turmoil in 2022, with pooled funds being forced sellers, Andrew Bailey has revealed.
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NewsMerseyside Pension Fund appoints new adviser
On the go: The £10.4bn Merseyside Pension Fund has appointed Redington to act as its strategic investment adviser.
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NewsAmey OS Pension Scheme completes £400mn buy-in
On the go: The £673.8mn Amey OS Pension Scheme has secured a £400mn buy-in transaction with Pension Insurance Corporation.
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NewsNew British Steel scheme secures third buy-in
On the go: The British Steel Pension Scheme has signed a £2bn buy-in with Legal & General, bringing the total liabilities insured to around 60 per cent.
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NewsKensington and Chelsea fund considers leaving London CIV
On the go: The £1.5bn Royal Borough of Kensington and Chelsea Superannuation Fund is considering leaving the London CIV.
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NewsInterserve Pension Scheme agrees £400mn buy-in
On the go: The Interserve Pension Scheme has agreed a £400mn buy-in with Aviva, securing the benefits of more than 7,000 members.