Five stories you may have missed this week

1. BoE sells £750m of gilts in first auction of QE stockpile

The Bank of England has sold a total of £750m of UK government bonds as part of its first auction to reduce its quantitative easing stockpile of gilts.

2. Agfa Pension Plan completes £200m buy-in

The Agfa UK Group Pension Plan has completed a £200m buy-in with Standard Life, covering the benefits of 770 members.

3. HMRC admits paying back £925m in overpaid tax

HM Revenue and Customs has paid back over £900m in overpaid taxes on pension withdrawals since 2015, according to new figures published earlier this week.

4. Industry positive about LDI as an investment strategy

A majority of the industry believe liability-driven investment has been a positive investment strategy for their scheme(s), according to a Professional Pensions survey.

5. BoE rate hike 'not cause for concern' for pension schemes

The pensions industry has argued the 0.75% rise in interest rates from the Bank of England should "not be too much cause for concern" for schemes but fears of further increases loom.