Aon
Fiduciary Management Focus: Rory Murphy to deliver keynote on MNOPF's journey
Merchant Navy Officers Pension Fund chairman Rory Murphy is to deliver the opening keynote at Professional Pensions’ Fiduciary Management Focus conference next week.
Why schemes must avoid overreacting to disrupted CMI Model
While the CMI Model of longevity improvements has proved reliable, Covid-19 threatens to cause it to show an unrealistic falls in life expectancy. Tim Gordon explains why the industry should not overreact
Thames Water signs Aon for three-year master trust contract
Thames Water has contracted Aon to bring an “inspiring and innovative approach” to its 4,500-member strong defined contribution stakeholder plan.
Five stories you may have missed this week
This week’s top stories include findings from PwC that pensions schemes have been “shoehorned” into valuing liabilities against gilts, while Mercer launched a defined benefit master trust.
Sole corporate trusteeship not a positive trend, industry says
Almost half (49%) of the respondents to a Professional Pensions poll disagree that the trend toward sole corporate trusteeship is positive.
Bulk annuity market 'repeat buyer' trend to ensure H2 boost
The bulk annuity market’s ‘repeat buyers’ will continue to drive market volumes through 2020 with cautious insurers on the hunt for “a track record of successful deals”, Aon says.
UK investment consultants form joint working group on sustainability
A dozen UK investment consulting firms have established a group aiming to improve sustainable investment practices across the investment industry.
Countering the increased threat of pension scams
Pension scams are not new, but the number of pension scams has soared by 400% since the beginning of the COVID-19 pandemic. Tom Williams asks what is a trustee’s role in protecting members against pension scams?
Recovery plans fall by 2.2 years as schemes expect target within ten years
The average recovery plan length for schemes in deficit has fallen by 2.2 years compared to three years ago, according to an Aon study.
Third way needed in DB funding code; 'Evolution not revolution' urged on covenant
Oversimplification must be avoided in The Pensions Regulator’s (TPR) proposed revision of the defined benefit (DB) scheme funding code, and a third way might be necessary, the industry has said.
Fast track DB rules in danger of 'mission creep' and 'levelling down' scheme objectives
The Pensions Regulator’s (TPR) proposal for a ‘fast track’ approach to defined benefit (DB) scheme funding regulation is being “used too broadly” and in danger of suffering from “mission creep”, says Aon.
Hitachi completes £275m buy-in with L&G
The Hitachi UK Pension Scheme has agreed and completed a £275m buy-in deal with Legal & General (L&G) covering the remaining benefits in the scheme.
Siemens completes £530m buy-in with L&G
The Siemens Benefits Scheme has agreed a £530m buy-in with Legal & General (L&G), insuring the benefits of more than 2,300 pensioner members.
PP Investment Awards 2020 - Shortlists published
Here they are… The shortlists for this year's Professional Pensions Investment Awards.
Five stories you may have missed this week
This week’s top stories included Aon findings that the number of defined benefit schemes employing a sole trustee model is expected to double by 2025, while Scottish Widows invested £2bn as the inaugural investor in BlackRock’s new climate fund.
EXCLUSIVE: Sole trustees expect usage to double in next five years
The number of defined benefit (DB) schemes employing a sole trustee model is expected to double over the next five years, according to an Aon poll of the sector.
Frank Field, Helena Morrissey and Bryn Davies to join House of Lords
Former Work and Pensions Committee (WPC) chairman Frank Field, 30% Club founder Dame Helena Morrissey, and Union Pension Services director Bryn Davies have been nominated for life peerages.
HMRC issues updated tax guidance for GMP equalisation
HM Revenue and Customs (HMRC) has updated its tax guidance for GMP equalisation, detailing how pension schemes can resume paying lump sum benefits to members without adverse tax consequences.
LGPS funds urged to begin McCloud work
Local Government Pension Scheme (LGPS) funds must carry out assessments urgently to understand the impact of the McCloud judgment, says Aon.
Aon's Michael Clare: Moving towards a new better
Professional Pensions spoke to Aon EMEA head of retirement & investment Michael Clare as part of an exclusive series of interviews with the leaders of some of the UK’s leading pension consulting firms. This is what he had to say…
Schemes on the hunt to maximise GMP conversion benefits
Red tape preventing pension schemes from managing the barriers around GMP equalisation is leading to many combining conversion with pension increase exercises (PIE), Aon says.
Big three pension consultants post combined revenues of £1.14bn in 2019
The revenue of the three biggest pension consultancy firms in the UK fell slightly in 2019, dropping from £1.16bn in 2018 to £1.14bn in 2019.
Reaction: TPR superfund guidance welcomed against cautious backdrop
Consultants, trade bodies, and professional societies across the pensions industry have responded relatively positively to guidance from The Pensions Regulator (TPR) that has today signalled a clear start for defined benefit (DB) scheme consolidation...
Bridging pensions increasing in popularity
More pension schemes and their members are becoming interested in using bridging pensions as a result of Covid-19, according to Aon.
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