Chancellor George Osborne announced the intention to consult on ultra-long gilts, at the time rumoured to be around 99-years in length, in the 2012 budget. After consultation, demand for gilts that long seemed limited with the DMO settled on 55 years.
The DMO launched its sale on 25 June, leading to expressions of interest reaching £12.8bn (PP Online, 25 June). Barclays, Lloyds Bank, Nomura and The Royal Bank of Scotland (RBS) managed the syndicated...
This week's edition of Professional Pensions is out now.
Nearly 60% of UK employers consider defined contribution (DC) master trusts to be the "most suitable" pension fund for their employees, according to research by Buck.
Companies which have tried to dodge their pension duties by changing their identities are being "hunted" by The Pensions Regulator (TPR) in a crackdown on non-compliance with auto-enrolment (AE).
Removing liquidity restrictions would enable DC funds to capitalise on the potentially higher and safer returns that DB schemes have benefitted from, says Patrick Marshall.