All LCP articles – Page 19
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OpinionDC members and illiquid assets – a perfect match?
Laura Myers from consultancy LCP explains why she believes defined contribution schemes would do members a favour by adding illiquid assets.
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News
Pension schemes steer clear from selling gilts as rate pain intensifies
Pension funds struggling with low yields have held back from selling long-dated government bonds, causing the Bank of England to miss its gilt buying target on Tuesday.
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News
Hedged Aviva schemes survive rate cut
Pension schemes sponsored by insurance giant Aviva have reported a marked increase in their accounting surplus owing principally to falling interest rates, but experts warn of further pain for schemes which are not hedged against interest rate risk.
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FeaturesRSA scheme targets buy-and-maintain strategy to derisk
The RSA Insurance Group’s Sal Pension Fund is focusing on buy-and-maintain credit as part of an investment strategy overhaul as the scheme looks to further derisk its portfolio following the results of its latest actuarial valuation.
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NewsRestructure or rebrand: Finmeccanica’s DC changes
The decision by FuturePlanner, Leonardo-Finmeccanica’s defined contribution pension scheme, to replace two gilt funds with annuity protection funds despite significant structural overlap, raises questions about the extent to which DC restructuring may just be rebranding.
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News
Deluge of information stifles retirement choices
An excess of information on the pension freedoms risks poor outcomes for “procrastinating” defined contribution savers, experts have warned, meaning the industry must improve member communication and engagement.
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Features
Environment Agency Pension Fund shakes up investment monitoring
The Environment Agency has released information about its investment process, emphasising a move away from more traditional benchmarking and quarterly reporting in favour of monitoring fundamentals and ad-hoc reporting.
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Features
GKN continues derisking with £53m buy-in
Global engineering group GKN signed off a second pensioner buy-in during 2015, insuring an additional £47m of pensioner liabilities, as part of a broad strategy to manage asset and liability risk as the group’s UK schemes mature.
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News
Aberdeen transport fund swaps derisking provider in self-sufficiency push
The Aberdeen Council Transport Fund is rushing to replace a derisking solution as it seeks to update its investment strategy and target self-sufficiency.
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News
Annuities gain ground on drawdown as savers seek income for life
The anticipated plundering of pension funds following the implementation of the freedom and choice reforms last April has failed to materialise, according to data from the Association of British Insurers.
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OpinionWould Brexit mean less red tape for UK schemes?
Analysis: The volume of European regulatory changes has radically increased the governance burden on UK pension schemes in recent years; voting to leave the European Union must be tempting for trustees keen to cut the red tape.
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Features
Long-term saving solution continues to elude pensions industry
Missed by many amid the Budget’s pomp and circumstance, the summary of responses to the government consultation – ‘Strengthening the incentive to save’ – contains a resounding call for stability but no clear solution to the nation’s savings crisis.
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News
PiP calls on government to bridge infra gap
The Pensions Infrastructure Platform has called on the government to make UK infrastructure more appealing to investors, in an effort to address the mismatch between government hopes for infrastructure investment and schemes’ need for returns.
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Features
Shell diversifies away from equities over market fears
The Shell Contributory Pension Fund has diversified its growth asset portfolio and reduced its equity holdings in response to concerns about the level of risk.
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Opinion
Innovation within the charge cap
DC Investment Quarterly: Ever since defined contribution funds have had to demonstrate value for money to members, they have sought to drive up performance of the investment strategy while controlling volatility.
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News
Consultancy looks to group small schemes for bulk annuity scale
Consultancy KPMG is looking to group small schemes together before bringing them to the bulk insurance market, allowing them to better access the buy-in and buyout markets, but rivals have said governance could prove a challenge.
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FeaturesUnilever refines DB and DC investment after review
Pension fund trustees at consumer goods giant Unilever undertook a review of the UK pension scheme's overall strategy last year and have implemented several changes across the defined benefit and defined contribution sections.
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FeaturesMarket effects of possible Brexit throw up investment questions
Analysis: Trustees must consider how growing uncertainty over the UK’s future in the European Union could hit their holdings, consultants have said, identifying both headwinds and opportunities en route to the referendum.
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News
Pie generates £23m for Centrica
Utilities provider Centrica has saved £23m on future pension liabilities after a pension increase exchange was taken up by a quarter of retired participants across three of its defined benefit sections.
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Features
BA transfer value review puts spotlight on older members
Trustees of the British Airways Pension Scheme have rebalanced the scheme’s transfer value basis towards younger members, but anticipate the net impact of the shift will be cost neutral to its funding position.