Five stories you may have missed this week
This week’s top stories included an £800m buy-in for the LV= Employee Pension Scheme, while XPS Pensions launched a concierge service for trustees.
1. LV= converts longevity swap into £800m buy-in with Phoenix Life
The LV= Employee Pension Scheme has agreed a buy-in of around £800m with Phoenix Life after converting an existing longevity swap.
2. XPS launches concierge service for trustees
XPS Pensions has launched a service for trustees of defined benefit schemes allowing them to retain full control of investment decision making while delegating implementation.
3. Nest commits to net-zero default pension strategy by 2050
Nest has set out plans to move its default pension strategy towards a net-zero investment portfolio by 2050, with at least £5.5bn of equities pledged to climate aware strategies.
4. TPR refrains from anti-avoidance action over Bernard Matthews pre-pack
The Pensions Regulator has decided not to take any action against Bernard Matthews after the food products business used a pre-pack administration to offload its pension scheme in 2016.
5. Countrywide Farmers scheme completes £100m PPF+ buy-in with L&G
The Countrywide Farmers Retirement Benefits has secured a £100m buy-in with Legal & General, insuring members' benefits above Pension Protection Fund compensation levels.
More on Industry
PTL and Law Debenture report significant growth
PTL and Law Debenture’s pensions business have both reported growth in revenue and new business.
PLSA publishes guide on trustee investment disclosure duties
The Pensions and Lifetime Savings Association (PLSA) has published guidance for trustees on the new requirements to publicly disclose their investment and responsible investment activity.
Coronavirus Blog: HMRC figures show plunging pension freedom withdrawals; Coronavirus crisis adds urgency to sustainable investing agenda
In this live blog, Professional Pensions brings together all the latest news on the industry's response to the coronavirus pandemic, as well as regulatory and legal updates.
Diversity Project targets investment industry pay gap
The Diversity Project has outlined a new equality target for asset managers with the intention of halving the industry’s gender pay gap by 2030.
Asset managers agree economic recovery is at least two years away
The majority (85%) of asset managers believe economic recovery is at least two years away, according to a poll conducted by XPS Pensions.
