All LCP articles – Page 2
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NewsDerisking well funded DB schemes may be an opportunity missed
Employers should adopt a more ambitious approach to managing well-funded defined benefit (DB) schemes and see them as an opportunity, according to pensions experts.
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NewsLCP toughens up its ESG policies
LCP has launched a responsible investment philosophy designed to focus industry attention on concrete action to address systemic risks posed by issues such as climate change and inequality.
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NewsGovernment explores CDC decumulation schemes
On the go: The Department for Work and Pensions is exploring whether it could introduce legislation for decumulation-only collective defined contribution schemes, since these could help “improve member choice and outcomes”.
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NewsNew DB funding code could cost employers up to £34bn
The Pensions Regulator estimates that the defined benefit funding code could have a cost for employers of up to £34bn, which has prompted consultancy LCP to call on the government to give more time to sponsors to adjust to the new regime.
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NewsInterserve Pension Scheme agrees £400mn buy-in
On the go: The Interserve Pension Scheme has agreed a £400mn buy-in with Aviva, securing the benefits of more than 7,000 members.
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NewsBank of England raises interest rates to 3.5%
On the go: The Bank of England has raised interest rates by 0.5 percentage points.
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NewsHalf of defined benefit schemes now closed to future accrual
Fifty per cent of defined benefit schemes are now closed to future accrual, according to new figures from the Pensions Regulator.
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NewsExperts estimate £500bn in assets are ‘missing’ after LDI crisis
Around £500bn in pension scheme assets are “missing somewhere” as a result of the liability-driven investment crisis, the Work and Pensions Committee has been told, with experts also questioning the role of leverage in these funds and the need for more guidance from regulators.
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NewsTwo-fifths of sponsors uncertain on accounting for Covid-19
On the go: A significant proportion of defined benefit pension scheme sponsors are still working out whether and how to make an allowance for Covid-19 in their year-end accounts due to a range of issues, according to LCP.
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NewsPension savers face ‘double’ tax hit as inflation soars
On the go: The government’s decision to freeze the lifetime allowance could yield up to £2bn for the Treasury, double the £1bn it previously projected due to a surge in inflation this year.
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NewsDashboards drive 26% surge in MaPS spend on pensions
On the go: The Money and Pensions Service significantly increased its expenditure on its pension streams for its year to March 31 2022, a move it said was driven by its spend on the dashboards initiative.
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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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NewsAerospace scheme secures buy-in, baking co-op derisks with L&G
Risk watch: A round up of the latest derisking transactions, including the Cobham Pension Plan £530mn bulk annuity deal with Standard Life, and the Flour Milling and Baking Research Association Pension and Assurance Scheme £10mn assured payment policy.
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NewsInsurance market faces ‘unprecedented’ scheme demand
The market for UK defined benefit pension schemes to transfer their liabilities to insurers is set to climb sharply, analysis by consultancy LCP has found.
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NewsDWP concedes to industry demands on dashboards lead time
The Department for Work and Pensions has recognised its proposed 90 days pensions dashboards lead time “creates challenges” for schemes and administrators, and will now give providers a six-month notice before the project goes live.
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NewsTPR moots LDI power of attorney as Bailey rules out more support
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.
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NewsLDI: Could trustees be sued?
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.
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NewsTPR called to regulate schemes’ LDI leverage levels
The Pensions Regulator should consider regulating levels of liability-driven investments leverage to guarantee that pensions schemes can withstand future market volatility, experts have warned.
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NewsProfessional trustee appointments jump 10%
On the go: The number of UK pension schemes to have appointed a professional trustee rose by a 10th in the year to July 2022, new research has found.
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NewsBank of England buys gilts to protect pension funds
The Bank of England has commenced a round of government bond purchases in an attempt to stabilise markets, after falling government bond prices prompted collateral calls for pension funds.