All Towers Watson/WTW articles – Page 4
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News
Are schemes ready for climate-related financial disclosures?
In August 2020, the Department for Work and Pensions launched a consultation on the recommendations of the Task Force on Climate-related Financial Disclosures, under which pension schemes with £5bn or more in assets, including authorised master trusts, would be required to have reporting metrics in place by this October and to publish climate risk disclosures by the end of 2022.
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Govt plans green bonds issue, but should schemes take the plunge?
The UK government has an ambitious climate and environmental agenda and is set to issue its first green gilt in September 2021, with at least one more issue before the end of the year. Green gilts to the value of £15bn will be issued in the 2021-22 financial year.
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NewsLifeSight aims to be net-zero by 2050
On the go: LifeSight, Willis Towers Watson’s defined contribution master trust, has announced it is committing to the goal of net-zero greenhouse gas emissions across all of its default investment strategies by 2050, while targeting at least a 50 per cent reduction by 2030.
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NewsGivaudan scheme completes £64m buy-in with Aviva
On the go: The Givaudan UK Pension Plan has completed a £64m buy-in transaction with Aviva, covering the pensioner liabilities for 277 members.
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NewsSchemes urged to hire independent trustees for better governance
On the go: Pension schemes should appoint an independent professional trustee that can help navigate the increasing complexity and risk involved in day-to-day operations, Willis Towers Watson has advised.
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NewsEastman schemes appoint WTW as fiduciary manager
On the go: The Eastman Chemical Company’s three UK defined benefit pension schemes have selected Willis Towers Watson as their fiduciary manager and awarded a combined actuarial and administration services contract to WTW’s OneDB service.
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NewsPension schemes should have climate risk integrated by 2026
On the go: Pension schemes expect to have fully integrated climate risks into their business processes by 2026, according to a poll carried out by Willis Towers Watson.
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NewsOnly half of trustee boards conduct governance reviews
On the go: Only half of defined benefit scheme trustee boards review their effectiveness annually, which shows the industry still has some way to go when it comes to governance, according to Willis Towers Watson.
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NewsAon sells US businesses to complete merger with WTW
On the go: Aon has sold two US businesses in order to complete its merger with Willis Towers Watson, after concerns were raised by the US Department of Justice.
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NewsEngineering consultancy moves DC scheme to LifeSight
On the go: The Ricardo International Pension Scheme, with 2.500 members and £125m in assets, has been moved into the LifeSight master trust.
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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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UK 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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NewsWillis Towers Watson and Wales LGPS pool target carbon emissions
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, with Wales Pension Partnership and Willis Towers Watson reducing their carbon emissions, and new research from PGIM that shows almost half of investors are overlooking climate risks.
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Experts dismiss national pension fund proposal
Analysis: Experts have largely poured scorn on a highly controversial proposal to create a gigantic national sovereign fund by merging public schemes and then mopping up private plans as well.
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News
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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News
West Ferry Printers scheme completes £120m buy-in
On the go: The West Ferry Printers Pension Scheme has completed a £120m buy-in transaction with Rothesay Life, securing the benefits for the remaining 263 members of the scheme.
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News
New solution allows schemes to have voting rights on pooled funds
On the go: The Asset Management Exchange and asset manager DWS have created an investment solution that allows pension schemes to express their stewardship preferences in pooled funds.
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News
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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News
Coalition bemoans lack of climate progress in transport industries
The UK’s largest pension funds are among those hailing a “moment of reckoning” for transport companies failing to align with the Paris agreement on climate change, as the investment community evaluates its own success in engagement.
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BHS exec scheme next to achieve PPF-plus outcome
On the go: The defined benefit scheme for senior management at defunct retailer BHS has bought out its benefits, allowing the plan to exit the Pension Protection Fund’s assessment period.