The defined benefit (DB) pension schemes of Lloyds Banking Group saw their combined accounting surplus grow by £954m over the first six months of 2018.
The improvement was largely driven by a significant reduction in scheme liabilities, but also aided by £317m of employer contributions and a £908m re-measurement gains, the company said in its half-year...
A number of pension schemes have been prompted to lock in gains with a move into bonds after the estimated deficit across FTSE 100 DB pension schemes improved by £36bn, over the 12 months ending 30 June last year, JLT Employment Benefits found.
HM Treasury has agreed in principle to give NEST a £329m contingent liability guarantee in the event of the master trust's wind up or closure.
AMP Capital has set up a dedicated team to help institutional investors, including pension funds, invest in infrastructure through direct equity allocations.