All Trustees articles – Page 10
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NewsTPR criminal powers policy spurs more industry concern
The Pensions Regulator has published its policy on how it intends to use upcoming criminal powers to prosecute those who fall foul of new legislation, following widespread industry concern into the scope and extent of the powers.
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NewsBuilders’ merchant scheme secures £8m buy-in
On the go: The £9.4m Atkinson Northern Limited Retirement Benefits Scheme has secured an £8m buy-in with Legal & General Assurance Society.
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PodcastsPodcast: Understanding green and sustainable bonds
Podcast: The green bond market is forecast to hit $500bn (£366bn) by the end of this year, according to the Climate Bonds Initiative, while the UK government has just raised £10bn from its debut green bond issue. However, high demand and limited supply raises questions over pricing and yield, while the availability of suitable projects has ignited concerns over greenwashing. In this podcast, Arthur Leijgraaff, senior treasury officer at the Dutch development bank FMO, and Rik Klerkx, senior portfolio manager at Cardano, explain what goes into a green bond issuance, and what trustees need to ask of their asset managers and issuers.
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PodcastsPodcast: No way to avoid the indexation ‘rules lottery’ as inflation bites
Podcast: High inflation will spur more schemes to look to switch from the retail price index to the consumer price index, but there is still no way around the “rules lottery”. Eversheds Sutherland partner Stuart Earle and Aon partner Lynda Whitney discuss inflation, the botched attempt to raise the normal minimum pension age, and a new value for money framework.
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NewsRiver and Mercantile joins green gilts issuance
On the go: River and Mercantile has announced its participation in the government’s inaugural green gilts issuance.
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NewsStrike ballot set for October in ongoing USS row
On the go: The University and College Union has announced it will ballot staff over strike action in October following a breakdown in negotiations over the Universities Superannuation Scheme’s controversial 2020 valuation.
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NewsInsurers called to protect trustees against GMP claims
The lack of statutory protection afforded to trustees means the insurance industry will have to shield these professionals against claims related to guaranteed minimum pension equalisation in cases where benefits are secured with annuity providers, legal experts have warned, while uncertainty about trustees’ obligations remains.
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NewsIndustry body launches new ESG guide for trustees
On the go: The Society of Pension Professionals has launched an environmental, social and governance guide for pension trustees, aimed at schemes that do not have size and resources to effectively manage its integration.
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PodcastsPodcast: Trustees need to address sponsor covenant climate risk
Podcast: With climate change becoming central to investment discussions, trustees also need to think about how similar risks can affect the strength of their scheme’s sponsor and its ability to stand behind the pension fund. In this podcast, Lincoln Pensions managing director Michael Bushnell explains what questions trustees need to ask, what to do with the information they get, and why employers really need to pay attention to climate change in their pension finance discussions.
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NewsMorrisons schemes granted additional security in takeover bid
On the go: An agreement has been reached between a private equity manager and the trustees of Morrisons’ defined benefit schemes to grant additional security, as the attempted takeover of the supermarket chain progresses.
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NewsPMI launches new diploma for pension professionals
On the go: The Pensions Management Institute is launching a new diploma in pension trusteeship.
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NewsOnly a quarter of ESG funds receive green rating
On the go: There is still room for improvement for asset managers when it comes to environmental, social and governance investment funds, since only a quarter of these received a green score in analysis from pensions consultancy XPS.
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NewsBig schemes turn to fiduciary managers during pandemic
Data crunch: The average size of a pension scheme taking on a fiduciary manager rose by around 80 per cent during the Covid-19 pandemic, suggesting the flexibility afforded by the model was particularly attractive in turbulent market conditions, according to research from IC Select.
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NewsStrike action ‘inevitable’ after employers agree USS reforms
The University and College Union is to ballot its members over industrial action, branding strikes “inevitable” after employers agreed to press ahead with reforms of the Universities Superannuation Scheme.
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NewsDraft CDC regulations hampered by poor definitions, industry warns
The government’s consultation into draft regulations governing collective defined contribution schemes requires more work on definitions if these pension funds are to be properly implemented, with the Pensions and Lifetime Savings Association warning it could create a “back door” for unscrupulous employers.
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NewsChildren’s car seat manufacturer completes £30m triple buy-in
On the go: Britax Childcare Group has completed a triple buy-in for its three defined benefit schemes worth £30m with Just Group.
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NewsTPR’s ESG guidance raises industry concerns on privacy and penalties
The Pensions Regulator’s draft guidance on climate change reporting and governance is not sufficiently clear on what constitutes compliance, and the watchdog needs to provide clarity on its approach to discretionary penalties, the Society of Pension Professionals has warned.
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NewsMorrisons bidder open to giving additional security to DB schemes
On the go: Clayton, Dubilier & Rice, one of the two private equity managers bidding for Morrissons, is open to considering additional securities to the retailers’ defined benefit schemes as part of their dialogue with trustees.
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NewsDB transfer requests return to pre-pandemic levels
On the go: Cash equivalent transfer value requests are starting to return to pre-pandemic levels following a 50 per cent increase in quotations, research has found.
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NewsTPR to amend single code as industry slates new requirements
The Pensions Regulator’s combined code of practice has been dealt a blow after widespread industry criticism forced it to scrap new rules on unregulated investments, while the fate of its proposed “own risk assessment” remains uncertain.