All Spence & Partners articles – Page 5
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FeaturesPost Office surplus raises union affordability complaints
The Post Office section of the Royal Mail Pension Plan remains in surplus, its latest funding update shows, just weeks after it was closed to future accrual amid union consternation.
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OpinionDB Pensions: If it ain’t broke, don’t fix it
Defined benefit is not facing systemic failure, but there are still areas where it could improve, argues Hugh Nolan from the Society of Pension Professionals.
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NewsArcadia agrees shorter recovery plans as Green feels pressure
Arcadia Group has agreed to increase its scheduled contributions to its two pension schemes, a sign that public pressure and 'naming and shaming' may be having some impact.
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FeaturesTaylor Wimpey builds synthetic equities to tackle volatility
The pension scheme of housebuilder Taylor Wimpey has undertaken a widespread derisking programme, strengthening existing hedges while converting physical equity investments into a synthetic, volatility-dampening exposure.
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FeaturesJohn Laing targets speedy return to full funding
The John Laing Pension Fund has agreed a recovery plan worth £171m to be paid over seven years by its sponsor, infrastructure investor John Laing, following an actuarial valuation.
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FeaturesCentrica drills for returns with high-yield allocation
The Centrica Combined Common Investment Fund, which manages holdings for the energy giant’s pension schemes, has trimmed its exposure to corporate bonds, reweighting its portfolio towards high-yield debt.
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NewsSpring Budget focus on self-employed lets industry hope for more
The chancellor’s focus on the self-employed could pave the way for bringing the group into the pension system, some experts have said, as the spring Budget brings no significant news on pensions.
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OpinionWhat effect will a cap on exit fees have on freedom and choice?
Spence & Partners’ Hugh Nolan takes a critical look at the 1 per cent early exit fee cap coming into force at the end of this month.
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FeaturesMPs’ scheme votes for secured loans over REITs
The Parliamentary Contributory Pension Fund has simplified its property portfolio and invested proceeds in a European loans mandate, with a view to generating income.
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News
LPFA feels divestment pressure
The London Pensions Fund Authority is under pressure from London Mayor Sadiq Khan to divest entirely from fossil fuel holdings, but says it prefers working with companies and fund managers over divesting.
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Opinion
Looking for a silver lining: Focus shifts to housing wealth as pension incomes hit a high
Analysis: Statistics seem to show that pensioners' incomes are now higher than other people's, but experts say there are many facets to the intergenerational fairness question.
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OpinionNolan: Everyone would gain from more DB to DC transfers
The Society of Pension Professionals’ Hugh Nolan joins the ranks of those advocating partial transfers as the middle way.
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NewsUnions reluctantly back BSPS closure proposal
Unions have backed a proposal to close the British Steel Pension Scheme to future accrual, raising questions about the future of private sector defined benefit schemes in the UK.
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News
Pinpointing life expectancy could cut deficits by £25bn
Using more accurate assumptions on longevity could be the key to bringing down defined benefit pension scheme deficits, new research shows.
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News
Cost scrutiny intensifies as TTF calls for select committee inquiry
The Work and Pensions Select Committee has been asked to launch a fresh inquiry into charges levied on pension savings, as campaigners warned price inefficiencies reach far beyond investment costs.
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News
Johnson Service Group adds £1.5m on top of recovery plan
Textile rental provider Johnson Service Group has committed to paying £1.5m to its defined benefit scheme following the £8.25m sale of its dry cleaning business to Timpson Group.
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NewsRoyal Mail closure consultation could see strike action
Royal Mail Group has begun consulting with active members on closing its section of the Royal Mail Pension Plan, spurring the threat of industrial action from unions if the sponsor does not react positively to their concerns.
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OpinionWhat’s left to do on GMP equalisation?
Spence & Partners’ Catrina Browne explains what schemes can do now to make guaranteed minimum pension equalisation easier further down the line.
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OpinionHow to decide what is in members’ interests
The Society of Pension Professionals’ Hugh Nolan asks what it means to be a good trustee and what happens when the trustee board is split over that question.
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FeaturesABF and Pie to shore up Severn Trent against deficit plunge
The Severn Trent Pension Scheme has agreed a new asset-backed funding strategy with its sponsor, following a year which saw its accounting deficit more than double despite derisking measures.