All News articles – Page 143
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Railways Pension Scheme strengthens climate reporting focus
On the go: The £31bn Railways Pension Scheme has outlined its expectations for portfolio companies on how they deal with key corporate governance and sustainability issues in its updated voting policy.
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Calls for DWP to change chair’s statement rules
On the go: The Department for Work and Pensions is to publish a review of the effectiveness of defined contribution chair’s statements in April, which has prompted some specialists to call for a major rethink.
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First UK Bus hikes deficit payments to £33m after TPR intervention
On the go: Intervention by the Pensions Regulator has resulted in First UK Bus increasing deficit repair contributions to its defined benefit scheme from £18m to £33m a year.
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Most savers unaware of schemes’ climate change endeavours
On the go: Three-fifths of workplace pension members do not know if their scheme is taking any action to combat climate change, according to a survey by the Pensions and Lifetime Savings Association.
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Schemes’ industry investments lag behind climate targets
On the go: Pension schemes with investments in heavy industry like steel, cement, aluminium and paper are likely to find them lagging behind the Paris agreement’s targets, with 86 per cent failing to align with a pathway to “2C or below by 2050”.
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NewsFinancial wellness: DC sponsors want more from their providers
Data crunch: Sponsors and fiduciaries of UK defined contribution schemes want their providers to offer more than a core pension product.
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Deutsche Bank Pension Scheme completes buy-in
On the go: The £4.5bn Deutsche Bank (UK) Pension Scheme has entered into a buy-in agreement with Legal & General Retirement Institutional.
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NewsOpinion split on Pension Schemes Act implications
A survey carried out as part of a webinar by law firm Sackers has laid bare a deep divide in the industry over powers afforded by the Pension Schemes Act.
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Schemes should not ‘mindlessly chase’ illiquidity premium
On the go: The chief investment officer of the £19bn Local Pensions Partnership has criticised asset managers promising unrealistic returns from illiquid assets, arguing that they no longer provide the same premium they once did.
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Industry calls on HMRC to help solve GMP tax issues
On the go: Although welcoming the new guidance from the Pensions Administration Standards Association on guaranteed minimum pensions equalisation tax issues, industry voices are calling for more collaboration from HM Revenue & Customs as several problems remain unsolved.
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Arcadia schemes could have enough assets to survive outside PPF
On the go: Arcadia pension scheme members could receive a greater portion of their savings after a string of property and infrastructure sales raised enough capital to bring them out of the Pension Protection Fund.
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NewsDerisking trend ramped up at end of 2020
Derisking trend rampedup at end of 2020Data crunch: Derisking continues to be the word of the moment for defined benefit corporate pension schemes, with bulk annuity deals and the pursuit of low-volatility portfolios ramping up in the last quarter of 2020Enterkeywords.sh_embed {position: relative;height: auto;width:100%;z-index: 0;overflow: hidden;background-color: #222;color: white;font-family: 'Lato', 'Helvetica ...
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Pension Protection Fund steps into social housing
On the go: The £36bn Pension Protection Fund has provided £65m of an £85m funding deal to refinance Monmouthshire Housing Association’s entire loan portfolio.
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Government reverses course on public sector exit payments
On the go: The government has announced it is to disapply the restriction on public sector exit payments that came into force in November.
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Schemes still lagging in fight against cyber crime
On the go: Three in five schemes now have a cyber strategy and 75 per cent of trustees have some degree of training on cyber risks, according to Aon’s most recent cyber scorecard.
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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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TPR pledges guidance after royal assent for Pension Schemes Act
On the go: The Pensions Regulator welcomed the Pension Schemes Act receiving royal assent on Thursday, with chief executive Charles Counsell looking forward to the “strong package of measures” it provides and pledging guidance for how they will be used.
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NewsNormal minimum pension age set to increase to 57 in 2028
HM Treasury outlined plans on Thursday confirming the government’s intention to raise the normal minimum pension age from 55 to 57 in April 2028, while devising a “protection regime” that ensures some scheme members retain their current rights.
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DB schemes to see £1tn of liabilities insured by 2031
On the go: Defined benefit schemes are expected to see £1tn of risk insured by buy-ins, buyouts and longevity swaps by the end of 2031, according to new analysis.
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Half of schemes planning to move members into master trusts
On the go: The trend of transferring members of defined contribution schemes to master trusts is expected to continue in 2021, with 50 per cent of employers or trustees planning such moves, or at least signpost these schemes as a retirement option for their members.