Latest articles from Alex Janiaud

BoE demands ‘appropriate levels’ of market resilience

News on the go

On the go: The Bank of England has called on market participants to learn lessons from the current volatility in gilt markets and has said that it is monitoring the behaviour of liability-driven investment managers, with its gilt-purchasing programme set to end on October 14.

Yields ‘can’t spike again’: Schemes respond to liquidity pressures

FT MONTAGE/Reuters

Analysis: Trustees and their advisers explain how schemes are reacting to liquidity constraints that erupted after the government’s “mini” Budget on September 23. 

TPR reached out to BoE for gilt market intervention

Simon Dawson/Bloomberg

The Pensions Regulator has told MPs that it contacted the Bank of England and other regulators before the launch of its gilt-purchasing programme, to establish what actions they could take in response to volatility in the gilt market.

TPR moots LDI power of attorney as Bailey rules out more support

Dreamstime

The Pensions Regulator has called on defined benefit pension schemes to review their liquidity, liability hedging and governance processes, suggesting that managers of their liability-driven investments could be granted power of attorney over some assets to quicken trading.

LDI: Pension funds appeal for more BoE support

Market moves

Market moves: Some pension funds think the Bank of England’s gilt market intervention should go further, while schemes pull capital out of multi-asset credit funds.

Process non-red-flagged transfers ‘as speedily as possible’

News on the go

On the go: The Pensions Administration Standards Association has encouraged schemes and administrators to process transfers that do not raise red flags as quickly as possible.

First half of 2022 sees record number of bulk annuity deals

News on the go

On the go: The first half of this year witnessed 78 bulk annuity deals, a record for the period, which registered 19 more transactions than the first six months of 2021.

Employers face contribution calls to maintain schemes’ hedging ratios

Chris Ratcliffe/Bloomberg

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.

LDI: Could trustees be sued?

Market moves

Market moves: A law firm speculates that trustees could be subject to legal action as a result of gilt market instability, the Association of Consulting Actuaries urges defined benefit schemes to review their hedging strategies, and a former pensions minister asks if liquidity pressures will undermine the government’s push for scheme infrastructure investment.

Government prolongs relaxation of NHS pension rules

iStock

The government will extend amendments to the NHS Pension Scheme designed at boosting health worker numbers, prolonging measures that were introduced in response to the coronavirus pandemic.