All News articles – Page 65
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NewsChemical company scheme agrees £430mn buy-in
On the go: The Tioxide Pension Fund has agreed to a £430mn buy-in with Legal & General.
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NewsNew DB funding code could cost employers up to £34bn
The Pensions Regulator estimates that the defined benefit funding code could have a cost for employers of up to £34bn, which has prompted consultancy LCP to call on the government to give more time to sponsors to adjust to the new regime.
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NewsGovt refuses to commit to increase auto-enrolment contributions
The government has refused to commit to increasing minimum auto-enrolment contributions, despite acknowledging that the current statutory contribution of 8 per cent is “unlikely to give all individuals the retirement to which they aspire”.
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NewsLDI turmoil could reduce DB schemes’ investment in illiquids
The fallout from the September market turmoil will be “wide-ranging” for UK defined benefit schemes, with regulatory changes influencing their capacity to invest in less-liquid growth strategies, according to a new report from Bloomberg Intelligence.
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NewsFull scheme buy-ins to dominate market in 2023
On the go: With many defined benefit schemes advancing in their derisking plan due to higher gilt yields, WTW is expecting full scheme buy-ins to dominate a “busy market”.
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NewsFCA launches retirement income advice review
On the go: The Financial Conduct Authority is to review the level of advice consumers are receiving from independent financial advisers on meeting their income needs in retirement.
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NewsTPR delays investment data collection from DB schemes
The Pensions Regulator will not be collecting data on fiduciary management and investment consultants from defined benefit schemes as part of its 2023 scheme return, which can present a “gap in compliance”, experts have warned.
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News‘Nightmare’ inflation eases slightly to 10.5%
On the go: The rate of inflation dropped slightly in December as the price of fuel and clothing eased. However, concerns are growing that wage rises are embedding inflation into the economy.
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NewsUniversities staff to strike again over pay and pensions
On the go: More than 70,000 staff at 150 universities will strike on February 1, in a dispute that includes disagreement over the 2020 valuation of the Universities Superannuation Scheme
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NewsLDI funds sold £23bn of gilts during market turmoil
Liability-driven investment funds sold £23bn of gilts in three weeks during the market turmoil in 2022, with pooled funds being forced sellers, Andrew Bailey has revealed.
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NewsBiggest asset managers accused of blocking ESG shareholder proposals
Non-profit ShareAction says the lack of support by BlackRock and other major companies has stymied investors’ environmental and social ambitions.
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NewsMerseyside Pension Fund appoints new adviser
On the go: The £10.4bn Merseyside Pension Fund has appointed Redington to act as its strategic investment adviser.
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NewsEngineering company appoints LifeSight as master trust provider
On the go: Engineering company KBR has appointed LifeSight as master trust provider for its 6,400 UK defined contribution scheme members.
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NewsAmey OS Pension Scheme completes £400mn buy-in
On the go: The £673.8mn Amey OS Pension Scheme has secured a £400mn buy-in transaction with Pension Insurance Corporation.
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NewsNew British Steel scheme secures third buy-in
On the go: The British Steel Pension Scheme has signed a £2bn buy-in with Legal & General, bringing the total liabilities insured to around 60 per cent.
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NewsKensington and Chelsea fund considers leaving London CIV
On the go: The £1.5bn Royal Borough of Kensington and Chelsea Superannuation Fund is considering leaving the London CIV.
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NewsInterserve Pension Scheme agrees £400mn buy-in
On the go: The Interserve Pension Scheme has agreed a £400mn buy-in with Aviva, securing the benefits of more than 7,000 members.
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NewsGovt actuary calls for improved data on schemes' LDI strategies
The government actuary has called on the Pensions Regulator to start collecting more data from defined benefit schemes about their liability-driven investments, among other suggestions to increase the visibility of risks associated with these strategies.
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NewsTPR urges trustees to support DC savers amid economic challenges
The Pensions Regulator has said savers must be supported during current economic volatility amid concerns the value of some defined contribution pots has fallen.
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NewsInflation drives 18% surge to ‘minimum’ cost of retirement
Retirees trying to achieve a basic standard of living will have seen their expenditure increase over the past year by almost 20 per cent due to high inflation, according to the Pensions and Lifetime Savings Association’s retirement living standards.