All Defined benefit articles – Page 39
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NewsPIC predicts £30bn addressable risk transfer market
On the go: Pension Insurance Corporation has said that falling scheme liabilities will make pension risk transfer market volumes appear smaller over time, predicting a market of £30bn over the next year.
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NewsCollective Enterprises Limited scheme secures full buy-in
On the go: The £1.3mn Collective Enterprises Limited Retirement and Death Benefits Scheme has agreed to a full buy-in covering all of its pensioner and deferred members.
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NewsTPR and FCA flag governance and competence concerns over LDI
The Pensions Regulator and the Financial Conduct Authority have raised questions over the governance of small schemes and the competence of some investors, in response to questions from a parliamentary committee over the use of liability-driven investments by pension schemes.
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NewsThree-quarters of asset managers yet to set climate transition targets
On the go: Seventy-three per cent of asset managers surveyed by consultancy Mercer have yet to set climate transition targets — such as goals on achieving net zero — across their strategies.
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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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NewsTruell seeks London listing for Long Term Assets
On the go: Long Term Assets Limited, led by Pension Insurance Corporation founder Edi Truell, has announced its intention to list its shares on the London Stock Exchange.
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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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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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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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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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OpinionThe outlook for credit remains strong
AXA IM Core head of fixed income investment solutions Lionel Pernias and senior portfolio manager Rob Price assess the outlook for credit and pension schemes.
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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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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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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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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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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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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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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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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.