All News articles – Page 132
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NewsFujitsu pension plan signs £3.7bn longevity hedge
On the go: The ICL Group Pension Plan, a Fujitsu pension scheme, has insured longevity risk in respect of £3.7bn of its liabilities, with Swiss Re providing the reinsurance coverage.
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NewsBT agrees £2bn asset-backed funding arrangement to plug deficit
On the go: BT and the trustee of the BT Pension Scheme have agreed to plug £2bn of the scheme’s £7.9bn deficit through an asset-backed funding arrangement secured against the company’s EE business.
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NewsExperts cite stewardship as more important than investment choices
On the go: A majority of leading pension figures believes that effective stewardship is more influential in tackling environmental, social and governance issues than in what is being invested, according to participants at a Law Debenture event.
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NewsDC funds must move away from passive corporate bond allocations
On the go: Defined contribution funds should follow defined benefit schemes and insurance companies in moving away from passive corporate bond allocations to improve climate resilience and member outcomes, according to Axa Investment Managers.
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NewsCost Transparency Initiative sees 23% spike in schemes’ uptake
On the go: The Cost Transparency Initiative has recorded a 23 per cent increase in uptake during the past year, with 79 per cent of pension schemes now making use of its framework.
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NewsProfit warnings down but half of DB sponsors remain on life support
Profit warnings from listed companies with defined benefit schemes have dropped by two-thirds in the past six months, but more than half remain in the insolvency “danger zone”, according to figures from EY.
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NewsRPI change may leave DB schemes at risk of overpaying transfer values
On the go: The change to the retail price index means that defined benefit schemes risk overpaying transfer values by 10 per cent if transfer terms are not adjusted, according to calculations by Hymans Robertson.
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NewsNortel Networks secures buyout with L&G
On the go: The circa £156.1m Nortel Networks UK Pension Plan has agreed a £105m buyout with Legal & General Assurance Society, the second transaction of this type with the insurer.
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NewsCould FSCS cope with a major bulk annuity provider default?
As sponsors offload their pension schemes to insurers, industry experts fear that an ever-increasing concentration of assets with a small group of players could lead to compensation schemes being overwhelmed in a major downturn.
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NewsGovt announces public service pension bill to implement McCloud
On the go: The government has announced a new bill intended to push ahead with the implementation of the McCloud remedy.
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NewsUK DB surplus surges by £19.5bn in April
On the go: The aggregate surplus of the 5,318 defined benefit schemes in the Pension Protection Fund 7800 Index has increased by £19.5bn in April.
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NewsFRC slaps DB scheme auditor with £125,000 fine
A chartered accountancy firm and one of its partners have been slapped with a hefty fine for “pervasive failures” in the manner in which they conducted an audit of Associated British Engineering, which included shortcomings in the audit of the company’s defined benefit pensions scheme liabilities.
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NewsPolice slate ‘deeply unfair’ ramifications of McCloud remedy
Police officers from every federated rank in the UK have written to the chairs of the Police Pension Scheme advisory boards to complain about the “deeply unfair” ramifications of the government’s McCloud remedy.
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NewsGovt urged to encourage later life pension contribution plan
On the go: Policymakers should carefully consider later life cycle factors when developing future policies to increase retirement savings, according to the Institute for Fiscal Studies.
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NewsRow erupts over FirstGroup pension black hole solution
On the go: A row has erupted between multinational transportation company FirstGroup and Coast Capital, its largest investor, over the former’s use of proceeds from an asset sale to plug a black hole in its pension fund.
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NewsAuto-enrolment participation stagnates in 2020
On the go: 2020 was the first year to see unchanged levels of participation since the auto-enrolment scheme was introduced, according to new figures from the Office for National Statistics published on Monday.
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NewsDC savers face retirement shortfalls as growth forecasts dip
On the go: Millions of workers face life-changing retirement shortfalls, as lower growth forecasts are set to wipe a third off pot values, according to new research.
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NewsFCA proposes new illiquid fund structure for DC schemes
On the go: The Financial Conduct Authority is proposing a new category of fund that will allow defined contribution schemes to invest in illiquid assets.
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NewsFinancial bodies call for new online scam rules
On the go: Seventeen groups have joined forces to warn about online scams and lobby the government to include methods to tackle this issue in its upcoming online safety bill.
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NewsFCA to require TCFD reports from providers and asset managers
On the go:The Financial Conduct Authority is to consult on the introduction of Task Force on Climate-related Financial Disclosures requirements for schemes it regulates, bringing its regulations into line with those proposed by the Department for Work and Pensions.