All Towers Watson/WTW articles – Page 9
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Opinion
What role does credit play in a portfolio?
How can schemes of different sizes get the best exposure, and is the asset class liquid when it needs to be? Bestrustees’ Bob Hymas, PGIM’s Jonathan Butler, PTL’s Richard Butcher, Redington’s Greg Fedorenko and Willis Towers Watson’s Chris Redmond discuss credit investment.
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News
Push for simpler DC bulk transfers receives industry approval
Experts have welcomed a consultation on transferring members between defined contribution schemes without their consent, launched to simplify the process and help achieve scale in the DC sector.
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OpinionData crunch: Who advises the DC scheme community?
SpenceJohnson’s Magnus Spence looks at how the advisory market is developing and explains why second-tier firms are gaining ground with defined contribution schemes.
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News
HMRC consults on GMP equalisation despite Brexit
The government has this week launched a consultation on the methodology for equalisation of guaranteed minimum pensions, indicating commitment to the issue, which goes back to EU law, despite the Brexit vote.
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NewsChancellor proposes ban on cold calling, refrains from pensions tax overhaul
In his first and last Autumn Statement, Chancellor Philip Hammond swapped the timing of the Budget and the Statement but had comparatively little to say about pensions for now; one of the larger measures – a consultation into pensions fraud – was welcomed by the industry.
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Opinion
Where will fiduciary management go next?
As fiduciary management becomes mainstream and schemes become more comfortable with its uses and limitations, manager offerings will inevitably change. But how can we expect them to evolve? Six experts discuss.
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Opinion
How easily could fiduciary management be set up for defined contribution?
Now that fiduciary management is a well-established part of the defined benefit pensions market. Could it be expanded into defined contribution? Or are the demands of daily dealing too much? Six experts discuss.
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Features
DWP silence on GMPs blocks Smiths implementation
Two UK defined benefit schemes operated by technology company Smiths Group have said they will implement guaranteed minimum pension equalisation but need further clarification from the Department for Work and Pensions to do so.
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Opinion
How has fiduciary management changed in the past year?
Which areas of the market is fiduciary management moving towards, and how is it defined? Six experts discuss what has happened in the fiduciary arena in the past year.
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Features
Retirees avoid overspending yet more become insolvent
Analysis: New figures suggest defined contribution savers reaching retirement might be overspending and increasing their risk of poverty in later years, but experts warn this could be a false alarm.
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Features
PPF deficit figures presage hard times for funding and dividends
Analysis: Following the Pension Protection Fund’s news of yet another record deficit in defined benefit pensions, many schemes can expect to gear up for challenging funding negotiations, amid growing fears for company dividends.
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Opinion
The shape of things to come: Could robo-advice transform pensions?
Would you take pensions advice from a robot? Robo-advice may be the flavour of the month, but not everyone in the pensions industry is convinced the future is fintech.
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NewsRailways scheme on track with cost management
The Railways Pension Scheme has saved £100m in fees, having restructured its external management and pooled fund arrangements, but despite being cost-conscious, the fund remains focused on net returns.
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Opinion
Annuity v drawdown: Dispelling myths
From the blog: The lead-up to the launch of the pension reforms in April last year created pent-up demand in the market, resulting in many opting to take advantage of the new freedoms and draw down a lump sum.
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Opinion
Member communications: How much information is too much?
Showing interest in their defined contribution pension pots can be a struggle even for seasoned industry professionals, so how and what should schemes communicate to get maximum engagement from their members?
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NewsShould you pay higher DC contributions to spur retirement?
Any Other Business: Lower employer contributions to defined contribution pension schemes can lead to “massive” challenges in paving the way for older workers to retire and injecting new blood into a business, experts have said.
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News
Illiquidity premiums move up agenda, but questions over cash flow remain
The new market liquidity regime will make it harder for pension schemes to access credit, says a new report, which recommends they take steps – in particular, to exploit illiquidity premiums – to protect themselves.
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OpinionOpportunities, risks and manager selection in fixed income
Fixed Income Live: Five industry experts discuss fixed income investment – the direction of interest rates, where the opportunities lie and how schemes can make sure they get the right manager to profit from them.
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Opinion
How schemes can pick the right manager
How can schemes know which manager will perform? In the last part of the Fixed Income Live series, Dalriada’s Simon Cohen, Hymans Robertson’s John Walbaum, Mercer’s Joe Abrams, PGIM’s Edward Farley and Willis Towers Watson’s Chris Redmond discuss whether schemes should let their consultant worry about finding the right specialists and what trustees should be spending their time on.
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Features
GKN continues derisking with £53m buy-in
Global engineering group GKN signed off a second pensioner buy-in during 2015, insuring an additional £47m of pensioner liabilities, as part of a broad strategy to manage asset and liability risk as the group’s UK schemes mature.