All Defined benefit articles – Page 39
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PodcastsPodcast: TPR should not regulate LDI despite pensions crisis
Dalriada Trustees director David Fogarty and Cartwright director of investment consulting Sam Roberts discuss the causes to the recent market turmoil that precipitated the intervention by the Bank of England, what was done to stall it, and what the future holds.
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NewsEmployers face contribution calls to maintain schemes’ hedging ratios
The sponsoring employers of defined benefit pension schemes look set to be called on for advances of contributions or additional funding, as schemes seek to preserve their liability hedging and lock in their improved funding levels.
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NewsPension Protection Fund rules out LDI review
On the go: The Pension Protection Fund has no intention of reviewing its investment strategy and its use of liability-driven investments in response to recent market volatility.
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NewsCould gilt market shock push schemes towards insurers over LDI?
The market shock prompted by the government’s “mini” Budget could see a shift away from liability-driven investment strategies and toward insurance deals, experts have suggested.
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NewsMPs question TPR role in LDI market turmoil
The Work and Pensions Committee has questioned the Pensions Regulator’s role in the market turmoil that led to the Bank of England’s intervention, asking if the watchdog should have “taken stronger action” earlier and what actions it was taking to monitor risks.
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NewsProfessional trustee appointments jump 10%
On the go: The number of UK pension schemes to have appointed a professional trustee rose by a 10th in the year to July 2022, new research has found.
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NewsLDI: L&G admits markets turmoil ‘caused challenges’ for clients
Market moves: Legal & General notes the problems posed for clients by the speed of recent rate increases, asset managers limit withdrawals from property funds, and soaring gilt yields supercharge defined benefit scheme funding levels.
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NewsBorder to Coast ready to vote on company leadership over ESG
The Border to Coast Pensions Partnership has warned it is prepared to vote on the future boardroom leaders over environmental, social and governance matters, as it publishes its net zero strategy.
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NewsTPR called to regulate schemes’ LDI leverage levels
The Pensions Regulator should consider regulating levels of liability-driven investments leverage to guarantee that pensions schemes can withstand future market volatility, experts have warned.
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News18,000 teachers subject to ‘challenging’ McCloud choice
Some 18,000 teachers have been made retrospectively eligible for Local Government Pension Scheme benefits by the implementation of the McCloud remedy, presenting an “administratively challenging” task for both the Teachers’ Pension Scheme and LGPS-administering authorities, according to the Local Government Pensions Committee.
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NewsTPR: Schemes had right structures in place to face market crisis
The Pensions Regulator believes defined benefit schemes had “sensible waterfall measures in place” to face the collateral calls prompted by rising gilt yields and has advised struggling trustees to speak to their advisers.
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NewsScottish Widows and Interactive Investor see green pension demand
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including a study from Scottish Widows suggesting green pensions are valuable for recruitment, and news that one in 10 workers have chosen a sustainable pension.
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NewsLDI: Mercer dismisses DB scheme solvency concerns
Market moves: Consultancy Mercer has hit out at media reports that suggested the solvency of defined benefit pension schemes came under threat this week, while LGPS Central points out investment opportunities, and Hymans Robertson issues guidance on liability-driven investments and collateral needs.
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OpinionSeven days in pensions
Broadstone technical director David Brooks details how the events that took place during last week have disrupted the pensions industry.
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NewsPPF to slash levy by more than £400mn in two years
The Pension Protection Fund is to slash its levy by more than £400mn by 2023-24, after a review found strong investment performance and a reduced risk of claims.
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NewsTPR updates climate risks guidance
On the go: The Pensions Regulator has updated its guidance on climate-related risk requirements to include mention of the “portfolio alignment metric”, which affected schemes have had to provide since October 1.
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NewsPPI touts new inflation measure over RPI
On the go: The Pensions Policy Institute has said that the household costs indices, which is currently being developed by the Office for National Statistics, could better reflect changes in pension income than current methodologies.
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NewsAdviser finds errors in nearly 20% of NHS pension records
An NHS pensions expert has identified mistakes in almost one in five pension records, having spotted misallocated arrears that artificially inflated a member’s pension growth, which would have otherwise triggered a £15,000 annual allowance charge.
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NewsUSS chief exec to step down in 2023
On the go: Universities Superannuation Scheme group chief executive Bill Galvin will be stepping down in 2023 in order to “refresh” the leadership team.
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NewsBank of England buys gilts to protect pension funds
The Bank of England has commenced a round of government bond purchases in an attempt to stabilise markets, after falling government bond prices prompted collateral calls for pension funds.