All Derisking articles – Page 11
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News
DB schemes should beware lockdown ‘inertia’
On the go: Three in four defined benefit schemes say they have taken no material action to change their investment strategies or journey plans as a result of Covid-19, but a new report from LCP warns that “inertia” could prove damaging.
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DB scheme accounting deficits jump £13bn in a month
On the go: The accounting deficits and liability values of the defined benefit schemes of the UK’s 350 largest listed companies rose by £13bn last month alone, according to research by Mercer.
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Financial illiteracy and poor support plague concerned savers
Apathy from pension providers and regulators is allowing millions of savers to sleepwalk into retirement traps, according to the findings of a series of reports into poor levels of financial education and literacy.
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New DB funding code could imperil sponsors and members
Some of the proposals in the Pensions Regulator’s consultation on a new defined benefit funding code could lead to worse outcomes for scheme sponsors, members and the Pension Protection Fund, according to a new report by LCP.
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NewsUSS strikes £300m deal with with affordable housing investors
The Universities Superannuation Scheme has entered into a £300m 45-year debt facility arrangement with a real estate investment trust, funding shared ownership housing developments.
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News
Market volatility leads to attractive returns in low-risk credit
On the go: Pension schemes should consider adopting high-quality, low-duration credit strategies such as asset-backed securities as an alternative to traditional bond allocations when looking to derisk their portfolios, according to a new report from Aon.
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UBS pension scheme enters into £1.4bn longevity hedge
On the go: The UBS (UK) Pension and Life Assurance Scheme has entered into a £1.4bn longevity hedge with Zurich Assurance, designed to protect the scheme against the risk of the 2,700 members covered living longer than expected.
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Formal superfunds authorisation could take 5 years
The Pensions Regulator anticipates that it could take five years for the government to put in place a statutory authorisation framework to oversee defined benefit superfunds, as it looks ahead to publishing specific guidance for trustees considering a transfer to the new vehicles.
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One in five schemes considering superfunds
On the go: The Pensions Regulator’s interim guidance for consolidators has sparked a surge of interest by pension schemes, with one in five considering superfunds as an option for their endgame, according to a survey by Willis Towers Watson.
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Lords commit TPR to preserving open DB schemes
The House of Lords has amended the pension schemes bill to ensure that open defined benefit schemes are not forced to derisk their investments in the same way as closed plans, in one of four defeats suffered by the government.
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News
Aviva strikes £150m buy-in with General Healthcare Group
On the go: Insurer Aviva has secured a £150m buy-in contract with the General Healthcare Group & Life Assurance Plan.
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Are pensions the answer to UK’s £1tn infrastructure gap?
A solution for the regeneration of Britain’s infrastructure could come from pensions, as superfunds could help plug the UK’s £1tn infrastructure gap. However, specialists believe it will be difficult for schemes to achieve the scale needed for these investments to be successful.
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Superfunds cleared to begin work under TPR interim regime
The Pensions Regulator is to sanction the transfer of struggling corporate defined benefit schemes into commercial consolidators aiming to secure pensions at a lower cost than insurers, under a two-part interim regime unveiled on Thursday.
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Pandemics, climate change pose ‘systemic risks’ to actuarial work
On the go: Global pandemics and the threat of a climate catastrophe present dire risks to the quality of actuarial work, according to a new report by the Joint Forum on Actuarial Regulation.
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News
Medical scheme completes £10m buyout with Aviva
On the go: The Unomedical Pension Plan has entered a £10m buyout with Aviva, which shows ongoing appetite from insurers to write smaller contracts.
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Banking association scheme signs £95m buy-in
On the go: The defined benefit scheme of the British Bankers’ Association has entered into a £95m buy-in agreement with insurer Aviva, covering 213 members’ benefits.
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Analytics firm completes global bulk annuity deal with L&G
On the go: Analytics company IHS Markit has entered into two bulk annuity deals with Legal & General, the insurer’s first global transaction.
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Co-op scheme completes £350m buy-in with Aviva
On the go: The Co-operative Pension Scheme has completed a £350m buy-in with Aviva, taking its total transactions this year beyond £2bn, as defined benefit schemes look to capitalise on cheaper deals amid the coronavirus pandemic.
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Longevity swap investors warned over collateral calls
A spike in the UK mortality rate due to Covid-19 could raise concerns for defined benefit pension schemes that have implemented longevity hedging, as it could trigger collateral calls on their longevity swaps.
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ESG-focused investments show durability through market meltdown
The Covid-19 pandemic has shown how important environmental, social and governance factors are when making investment decisions, according to analysts.