Improved funding levels and changing DB endgames are altering what schemes need from their fiduciary managers, according to XPS Group.
USS has agreed to take over a rail freight company, while Insight is to help facilitate surplus sharing through a £1bn mandate with an unnamed DB pension scheme.
Van Lanschot Kempen argues that delaying decisions on endgame options could mean schemes miss out on potential investment returns that could in turn boost surplus release payments.
The world’s largest asset manager has secured the fiduciary management mandate for the British Coal Staff Superannuation Scheme as it continues to mature.
Plus: Royal London, Legal & General and Utmost announce buy-ins, while Utmost is set to be rebranded as JAB Pensions following a takeover.
Two-thirds of UK DB pension schemes are now in surplus as of their most recent triennial valuation, prompting employers to reassess long-term endgame options.
Speaking at the Pensions Expert Annual Conference this week, TPR’s Richard Knox said the direction of policy was clear enough for pension schemes and trustee boards to begin preparing for major changes.