All Mercer articles – Page 4
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NewsCII scheme completes full buy-in with L&G
On the go: The Chartered Insurance Institute Pension Scheme 1993 has completed a £55m full buy-in with Legal & General Assurance Society.
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NewsUK pension funds to increase allocations to industrial metals
On the go: UK pension funds are set to increase their allocations to industrial metals to take advantage of a commodity “super cycle”, defined as a decades-long period during which commodities are predicted to trade above their long-term price trend, according to a new study by NTree International.
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NewsUK pension schemes under-allocated to Chinese equities
UK pension schemes’ allocation to China as a percentage of global equities is generally inadequate, but there is no consensus as to how big the allocation should be, according to participants at Camradata’s Investing in China roundtable.
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Association of British Insurers completes £26m buy-in
On the go: The Association of British Insurers Pension & Assurance Scheme has completed a £26m buy-in with Aviva.
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Mercer and L&G to target net-zero, Aviva launches equity fund
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, with Mercer and Legal & General reducing carbon emissions, and Aviva’s new equity fund launch.
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TPR to test employer resources in contribution regime
On the go: The Department for Work and Pensions has proposed that the Pensions Regulator includes a new employer resources test in its contribution regime, which will be used to determine whether an act or failure to act has occurred.
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AkzoNobel transfers assets to master trust
On the go: The AkzoNobel Benefit Builder, which closed to future contributions in October last year, has transferred the majority of its assets to a defined contribution master trust with Mercer.
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PwC and Mercer DB pension scheme deficits at odds
On the go: PwC’s defined benefit scheme deficit tracker drops from £120bn to zero, while Mercer’s metric paints a less rosy picture for schemes of the UK’s largest companies.
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NewsDB schemes can be severely impacted by Libor closure
The end of the London interbank offered rate at the end of this year is expected to have huge consequences for defined benefit schemes, which historically have been using it for different asset class investments and even for managers’ benchmarks.
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Mowlem scheme completes buyout and exits PPF
On the go: The Mowlem (1993) Pension Scheme has entered into a £150m buyout transaction with Legal & General Assurance Society, securing benefits outside of the Pension Protection Fund.
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NewsTPR: Valuations until March 2022 done under current funding regime
Pension schemes with scheme valuations until the end of the first quarter of next year do not need to worry about the Pensions Regulator’s new defined benefit funding code, David Fairs has revealed.
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Guide launched to assess investment consultants’ climate competence
On the go: The Investment Consultants Sustainability Working Group has launched a guide to help trustees in assessing their investment consultants on climate competency.
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Aberdeen City Council Transport Fund completes first buy-in
On the go: The circa £300m Aberdeen City Council Transport Fund has secured roughly three-quarters of its liabilities through a buy-in with pensions insurer Rothesay Life.
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FTSE 350 pension deficit nearly doubles due to Brexit and Covid
On the go: The accounting deficit of defined benefit schemes for the UK’s 350 largest listed companies finished the year at £70bn, almost double the deficit of £40bn at the end of 2019, according to Mercer’s Pensions Risk Survey.
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NewsEngineering group speeds up derisking as market nears £30bn
At the tail end of what has been the second biggest year ever for derisking transactions, engineering services group Renew Holdings completed a £110m buy-in with Rothesay Life for its Lovell Pension Scheme.
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Consultants seek to push up industry sustainability standards
A new working group formed by 12 UK investment consultants is aiming to encourage standardisation of practices and meaningful action on sustainability among asset owners.
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Marathon scheme completes £610m buy-in with Rothesay Life
On the go: Oil and gas production company RockRose has completed a full £610m buy-in with Rothesay Life for the Marathon Service Limited Pension and Life Assurance Scheme.
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Industry unmoved by regulator’s DB funding arguments
The introduction of a twin-track approach to regulating defined benefit scheme funding could stifle the creativity needed to navigate the current financial crisis, experts have warned.
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Littlewoods scheme buys in remaining £930m with Rothesay
On the go: The Littlewoods Pensions Scheme has secured almost £1bn of its defined benefit liabilities with insurer Rothesay Life, with the plan’s pension promises now completely covered by bulk annuity contracts.
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UBS pension scheme enters into £1.4bn longevity hedge
On the go: The UBS (UK) Pension and Life Assurance Scheme has entered into a £1.4bn longevity hedge with Zurich Assurance, designed to protect the scheme against the risk of the 2,700 members covered living longer than expected.