CHILE/CANADA - The Ontario Teachers' Pension Plan plans to bid to increase its stakes in two Chilean water utilities.
The C$107.5bn ($111.2bn) pension fund manager already owns a 51.1% stake in both Essbio S.A. and a 69.8% stake in Esval S.A.
The Chilean government entity CORFO is holding the auction on 15 July, but will maintain a 5% stake in both utilities. This will allow the government to hold on to veto rights around issues like water rights transfers and utilities concessions, OTPP said.
A buyout tool which provides schemes with up-to-date pricing and comparisons between insurers has been launched by JLT Employee Benefits.
The DB white paper sets out plans to review the funding regime, with 'prudent' and 'appropriate' possibly redefined. But James Phillips asks if this could this signal a return to an MFR-like approach?
The trustees of GKN's pension schemes have agreed a package of mitigation measures that would improve funding to a "more prudent level" if Melrose's offer is accepted by shareholders next week.
While the new powers are welcome, most respondents doubt it will make a difference to the outcomes for members, Pensions Buzz respondents say.