Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the December 2020 estimates on the various measures…
Metropolitan Tower Life Insurance Company has announced it completed four longevity reinsurance transactions with Legal & General (L&G) Assurance Society last year.
Schemes need to dynamically and closely monitor the position of their employer covenant and its corporate longevity, ensuring the assessment is not conducted in isolation, the Employer Covenant Practitioners Association (ECPA) says.
GLIL Infrastructure has raised £500m from two Local Government Pension Scheme (LGPS) pools to fund UK infrastructure investments.
Universities Superannuation Scheme (USS) Investment Management has partnered with DiligenceVault for investment data and risk analysis support.
Deaths in England and Wales were 51% higher in week 52 of 2020 than the corresponding period of 2019, although partly inflated by bank holidays, according to the Continuous Mortality Investigation (CMI).
South Yorkshire Pensions Authority (SYPA) is tendering for a managing agent for the provision of property management, property accounting and property data services within its circa £550m commercial property portfolio.
The Scottish Enterprise Pension & Life Assurance Scheme (SEPLAS) has appointed Hymans Robertson and Isio following a formal tender process.
Police and regulators need greater resources to tackle the rising threat of pension scams, the Work and Pensions Committee (WPC) has been told, so the industry should also play its part in reporting all suspected scam activity.
Foresight Group has announced its expected intention to float on the London Stock Exchange as part of its “logical next step” for growing the business.
Between £30bn and £40bn of pension risk is expected to be transferred to insurers via buy-ins and buyouts this year, Aon says.
PensionBee has launched four ready-made investment pathway solutions with State Street Global Advisors (SSGA) ahead of the February implementation deadline.
Steve Nicholson looks at how schemes can go about implementing the most recent Lloyds ruling
The Merchant Navy Ratings Pension Fund (MNRPF) has replaced every member of its trustee board following a drawn-out battle with The Pensions Regulator (TPR) to improve governance.
Defined contribution (DC) savers believe responsible investing is at least as important as returns, with 26% stating they would forego the latter if their fund was invested in an ESG-conscious manner.
The Maersk Retirement Benefit Scheme has agreed a £1.1bn buy-in with Legal & General (L&G) Assurance Society, protecting benefits for around 4,900 members.
The Department for Work and Pensions (DWP) has launched a consultation on the future of the general levy, seeking to close a potential £230m funding gap if rates remain unchanged.
Law Debenture has acquired the company secretarial business (CSS) of Konexo from Eversheds Sutherland for a cash payment of £20m.
The Aon Retirement Plan has completed a £510m pensioner buy-in with Scottish Widows, insuring members in the Aon Bain Hogg Pension Scheme section.
The BBC Pension Scheme has completed a £3bn longevity swap deal with Zurich and Canada Life Reinsurance, covering the risk of pensioner and dependent members.
Britons generally have a lower risk tolerance than Americans, Canadians, and Australians, and would give up some or significant returns to invest with their personal values, according to MFS Investment Management research.
Northern Gas Networks agrees £385m buy-in with L&G; Risk transfer market busy despite Covid and set to top £60bn in 2021
The Northern Gas Networks Pension Scheme has agreed a £385m pensioner buy-in with Legal & General (L&G).
Lane Clark & Peacock (LCP) partners are set to own a larger stake in the firm after buying out Inflexion Private Equity’s minority stake with the support of Charterhouse Capital Partners.
The National Grid UK Pension Scheme has completed an £800m buy-in with Rothesay, its second bulk annuity transaction with the insurer.
Around 5,000 Thermo Fisher Scientific UK pension scheme members have joined Aegon Master Trust, with £120m of assets transferred.
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the November 2020 estimates on the various measures…
The Greater Manchester Pension Fund (GMPF) has invested £10m in a social impact fund launched by Resonance to tackle homelessness.
After a tumultuous year for every industry, James Phillips says 2021 can give the pensions industry and government a chance to tackle the long-term needs in retirement savings.
The Aegon Master Trust will move from an affiliate board structure to fully independent, recruiting a further trustee as part of the process.
Legal and General Retirement (LGR) has committed to cutting the carbon emission intensity of its annuity book by half by 2030, while the overall group targets a net-zero portfolio by 2050.
Lady Tina Green has agreed to pay a £50m deficit recovery contribution (DRC) to Arcadia’s pension schemes earlier than scheduled.
The Court of Appeal has overturned a High Court ruling which blocked the transfer of a £12bn annuity book from Prudential, now M&G, to Rothesay.
Debenhams’ pension schemes are continuing in Pension Protection Fund (PPF) assessment after administrators failed to rescue the company from collapse.
The collapse of Sir Philip Green’s retail giant Arcadia must be met with clear solutions and support for its pension scheme, which looks likely to enter Pension Protection Fund (PPF) assessment, Stephen Timms has said.
The number of defined benefit (DB) scheme members with benefits protected by an insurer will double by the middle of the decade, according to Lane Clark & Peacock (LCP).
Aviva Life & Pensions has concluded an £875m buy-in with its own staff pension scheme, following on from a similar transaction last year.
Nearly every trustee is confident of the next stage in their scheme’s strategy, despite almost an equal number being forced to consider replacing plans within the prior 12 months, according to research by Barnett Waddingham.
The Retail Prices Index (RPI) will be reformed and aligned with the housing cost-based version of the Consumer Prices Index, known as CPIH, by 2030, the Treasury has confirmed.
Companies could be overstating their pension liabilities by up to £60bn due to their life expectancy assumptions, according to XPS Pensions Group.
More than £130bn of company funds are tied up in pension schemes specifically due to lower than expected levels of life expectancy improvements over the last decade, according to PwC.
Just Group has completed a £74m pensioner buy-in with the UK pension scheme of a US-listed engineering business.
Brunel Pension Partnership has launched two investment vehicles to target infrastructure assets that meet Paris Agreement objectives for its partner funds.
Seven directors of the Trustee Corporation have been accredited under the Pensions Management Institute’s (PMI) Aptitude programme.
The Smiths Industries Pension Scheme has secured a £146m buy-in with Canada Life in its fourth bulk annuity and its sponsor’s tenth overall.
A proposal to ensure savers receive a Pension Wise appointment prior to accessing their retirement pot has received cross-party support in parliament, while Labour seeks net-zero pensions by 2050.
Schroders has launched a multi-private credit fund (MPCF) for UK defined benefit (DB) schemes in response to growing demand for long-term and alternative income streams.
Trustees must know the signs of sponsor distress and be prepared to act quickly as the “first line of defence” for savers, The Pensions Regulator (TPR) has warned.
Former BHS owner Dominic Chappell potentially faces his fourth personal bankruptcy in order to pay £9.5m of contributions he owes to the failed retailer’s pension schemes.