UK - The £2.3bn South Yorkshire Pension Fund's assets have risen by 20% over a 14-month period.
An interim valuation carried out by Mercer Human Resource Consulting valued assets at £1.96bn at the end of March 2003, which represented a 66% funding ratio of the scheme’s liabilities. In total the scheme was estimated to have a £1bn funding deficit.
But the latest figures published by the fund show its assets had risen to £2.3bn by the end of May. This figure matches its 2001 value when its funding ratio was calculated at 90%.
Over the past six months the fund has seen most growth in alternative investments, which grew from £18m to £30m, overseas equities, up from £467m to £515m and corporate bonds, up from £111m to £134m. The only notable fall was in UK equities from £989m to £980m.
The updated distribution figures do not state whether the changes come from shifts in asset allocation or changing values.
Guy Opperman has indicated his support for a fresh pensions commission as the government seeks to understand how to progress pensions policy in a wide range of areas.
Auto-enrolment (AE) minimum contribution rates could rise to 12% by 2030, with a 50/50 split between employer and employee, the Pensions and Lifetime Savings Association (PLSA) says.
ITM director Maurice Titley looks at the next steps schemes should take on GMP equalisation.
Schemes are too focused on outcomes when assessing governance, when this may be a result of circumstance not skill. James Phillips looks at whether governance needs more of a framework.