SCHRODERS and the Bank of New York have each lost custody mandates worth approximately £1bn after Royal Mail decided to consolidate its assets under one custodian.
JPMorgan Worldwide Securities Services has been appointed as the sole custodian of £2.2bn of the £22bn Royal Mail scheme’s segregated assets.
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.