All Legal & General articles – Page 7
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News
Bulk annuity deals drive insurers to sustainable investments
On the go: UK life insurers could allocate up to £170bn to illiquid investments over the next decade, with a substantial portion focusing on new sustainable assets, according to Fitch Ratings.
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Maersk scheme completes £1.1bn buy-in with L&G
On the go: The Maersk Retirement Benefit Scheme has agreed to a £1.1bn buy-in with Legal & General, covering the benefits of 1,900 deferred members and 3,000 pensioners.
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NewsWeekly roundup: It’s not easy being Green
Welcome to Pensions Expert’s roundup of a week in which we bade farewell to a few of the high street’s better-known names, and the Pension Protection Fund brightened everyone’s mood with its new doomsday scenario.
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L&G to halve emissions of annuity book by 2030
On the go: Legal & General has announced it is to cut the carbon emissions intensity of its £80.7bn annuity book by 18.5 per cent by 2025 and 50 per cent by 2030 as part of its drive to become net-zero by 2050.
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BHS exec scheme next to achieve PPF-plus outcome
On the go: The defined benefit scheme for senior management at defunct retailer BHS has bought out its benefits, allowing the plan to exit the Pension Protection Fund’s assessment period.
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Scottish Widows snares top hire from Legal & General
Veteran professional David Butcher has just taken on a new dual role as a member of the master trust board and independent governance committee at Scottish Widows, moving from Legal & General’s master trust board.
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Hitachi completes £275m buy-in with L&G
On the go: The Hitachi UK Pension Scheme has agreed a £275m buy-in transaction with Legal & General that covers the remaining deferred members and retirees, after a similar deal in 2018 with Scottish Widows.
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Siemens completes £530m buy-in with L&G
On the go: Industrial manufacturer Siemens has completed a £530m* buy-in for Siemens Benefits Scheme with Legal & General, covering more than 2,000 pensioners.
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Widows switches into ESG fund as integration becomes standard
Scottish Widows has aligned a chunk of its pension portfolios with the transition to a low-carbon economy, as the integration of environmental, social and governance factors emerges as a competitive driver in the commercial defined contribution sector.
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Engineering consultant scheme on lookout for bulk annuity bargains
Trustees of the defined benefit scheme for a Yorkshire engineering consultancy’s staff are actively monitoring the bulk annuity market, after two completed transactions and improved funding levels.
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Retirees deserting good value master trusts for lack of advice
Workers are ditching a widening range of retirement options offered by workplace defined contribution schemes for expensive retail products.
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How can schemes make ESG compliance meaningful?
Analysis: The UK pension industry’s first attempt at compliance with new sustainability reporting rules has left campaigners unimpressed, to say the very least.
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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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3i buys in £650m across pensioners and deferreds
On the go: Private equity and infrastructure group 3i has announced a £650m buy-in with Legal & General.
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News
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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HSBC DC members affected by property fund suspensions
On the go: Members of the defined contribution section of the HSBC Bank (UK) Pension Scheme have been affected by a suspension of several property funds due to the Covid-19 crisis.
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L&G to launch fossil fuel free fund
On the go: PensionBee will offer Legal & General’s first fossil fuel-free fund, in response to demand from consumers to exclude oil from their pension investments.
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AIB scheme pioneers alternative derisking solution
The AIB Group UK Pension Scheme has entered into a £250m insurance contract to hedge the investment risk associated with a portion of its liabilities, becoming the first defined benefit plan to undertake an alternative derisking solution.
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City of Westminster scheme to cut equities and diversify portfolio
The City of Westminster Pension Fund has shifted its investment strategy in response to concerns about volatility in equity markets, added to a need to diversify risk and lock down an improved funding ratio.
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National Grid scheme commits £185m to UK renewables
On the go: The National Grid UK Pension Scheme has awarded a £185m mandate to Octopus Renewables to manage UK solar and onshore wind assets.