UK - The £620m (US$1.23bn) London Borough of Haringey pension fund has appointed Hewitt and Hymans Robertson to provide actuarial services and investment advice.
According to the latest annual report, the fund had a 76% funding level. Following a strategic review, the fund chose to alter its asset allocation, reducing its UK equity holdings from 43% of the portfolio to 30% and increasing its international equities holdings from 27% to 35%.
It also introduced a 5% global market cap mandate and a 5% allocation to private equity, introduced an active currency overlay, passive currency hedging and increased its property allocation from 6% to 10%.
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.