All Legal & General articles – Page 9
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News
Rolls-Royce and L&G complete record £4.6bn deal
On the go: Rolls-Royce has completed a partial buy-in on the way to buyout in excess of £4.6bn, securing the benefits of around 33,000 members of the Rolls-Royce UK Pension Fund.
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Master trust authorisation period closes with 38 left in the running
On the go: A total of 38 master trust authorisation applications had been submitted to The Pensions Regulator by Tuesday, as the extension period closed with more casualties expected.
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LGIM votes against record number of companies in 2018
On the go: Legal & General Investment Management has broken its record for voting against companies of which it is a shareholder, as the asset manager tries to cement its stewardship credentials.
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News
BlueSky and Crystal master trusts gain authorisation
On the go: Two more master trusts have gained authorisation from the Pensions Regulator, bringing the total approved schemes in the sector to five.
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PLSA policy board sets priorities for next four years
On the go: The Pensions and Lifetime Savings Association’s new policy board has set its priorities for the next four years, with specialist sub-committees formed for defined benefit and defined contribution schemes, local authority schemes and master trusts.
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News
L&G legacy pension members face higher charges, finds IGC
On the go: In its fourth annual report, Legal & General's independent governance committee gave the company an overall high score, but flagged up steep charges on legacy pension products.
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L&G master trust default goes green due to member demand
On the go: The Legal & General Mastertrust is switching its default investment strategy to take account of environmental, social and governance risks, after a study revealed almost 60 per cent of its members favour the approach.
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News
Bulk annuity volumes beat expectations with £24bn in 2018
On the go: Legal & General took the largest share of the bulk annuity market in 2018, accounting for 35 per cent of the sector, in a year when buy-ins and buyouts totalled £24bn.
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News
Record £10bn annuity sales boosts L&G profits
On the go: Legal & General’s 2018 results released on Wednesday showed a record £10bn annuity sales, as demand grew for both institutional risk transfer deals and individual annuities.
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NewsM&B switches to drawdown and moves deferreds to master trust
The Mitchells & Butlers pension scheme has updated its defined contribution default strategy to target drawdown purchase, directing members to a master trust for retirement provision.
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News
DB health improves but covenant strength ignored
Defined benefit pension schemes are not paying enough attention to the likelihood of their employer going bust when setting investment strategy, according to a new study assessing funding levels in the context of sponsor health.
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OpinionWhy we need to better understand Generation AE
The pensions industry is only just getting to grips with the needs and expectations of the first-time savers created by auto-enrolment. Nigel Peaple of the Pensions and Lifetime Savings Association explains the implications for pensions policy of ongoing research in this field.
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News
Nortel bought out after 9-year struggle
On the go: The UK pension scheme of failed telecoms giant Nortel has been bought out with Legal & General in a £2.4bn transaction, bringing nine years of uncertainty for members to an end.
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News
Lessons from Oz: Former regulator urges hybrid product adoption
A former deputy chairman of the Australian Securities and Investments Commission has urged UK defined contribution schemes to better protect members by developing default retirement products combining drawdown and lifetime income.
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FeaturesEnfield cuts equities for MAC following review
The Enfield Pension Fund’s policy and investment committee has agreed to move £50m into multi-asset credit from equities, following a comprehensive review of its fixed income portfolio with its investment adviser.
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OpinionThe rise and rise of factor investing
Data Crunch: Factor investing has attracted a lot of attention from the UK pensions industry. Defined benefit schemes have seen factors as a way to diversify their growth assets and achieve greater control of risk, while defined contribution schemes are exploring default investment strategies that may offer better value for money to their members.
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FeaturesHaringey to swap passive equities for multi-factor strategy
The London Borough of Haringey Pension Fund has agreed to convert nearly half of its equity allocation from a passive fund into a multi-factor global strategy. It has also recently trimmed an overweight position in equities into its multi-asset absolute return and credit strategies.
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News
Smart Pension and L&G to develop first default retirement pathway
Default retirement pathways could become a feature of the UK pensions system as early as next year, as Smart Pension and Legal & General announce plans to develop a product combining drawdown and annuities.
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News
Further details emerge on consolidator safeguards
Investors in The Pension SuperFund will not begin to receive returns on their capital until its consolidated schemes have passed a 115 per cent funding target, its executives have told the Work and Pensions Committee.
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Features
Cumbria implements equity protection strategy
The Cumbria County Council Pension Fund has joined the ranks of local authorities hedging their equity downside with an equity protection strategy. Nearly £1.1bn of the fund’s equities will be covered by the arrangement.