The Pension SuperFund
Overloaded bulk annuity market to kickstart superfunds
A burgeoning superfund market could be on the cards within three years as defined benefit (DB) scheme trustees and sponsors face myriad legislative, economic, and capacity issues, says Lane Clark & Peacock (LCP).
The Pension Superfund announces ALM committee; High-profile membership includes Martin Gilbert and Chris Hitchen
The Pension Superfund has announced the makeup of its asset and liability management (ALM) committee – unveiling names including Aberdeen Standard Investments chairman Martin Gilbert and former Railpen chief executive Chris Hitchen as part of its team....
EXCLUSIVE: Superfunds could complete multi-billion deals this year
Superfunds could be on course to complete multi-billion-pound transfers of defined benefit (DB) funds by the end of this year, Isio says.
Five stories you may have missed this week
This week’s top stories included amendments to the Pension Schemes Bill being passed by the House of Lords, while The Pensions Regulator revealed its intentions to tighten expectations on the industry with the release of its 2020/21 corporate plan.
The Pension Superfund completes HMRC registration in step towards first deal
The Pension Superfund (PSF) has moved a step closer to completing its first deal with the official registration of the superfund as an occupational pension scheme by HM Revenue & Customs (HMRC).
Edi Truell: My response to calls for a consolidator to take on smaller underfunded schemes
The Pension SuperFund co-founder Edi Truell responds to PIC’s call for a consolidator to take on smaller underfunded schemes.
David Fairs: Why we have launched an interim superfund regime now
With the launch of an interim regime, the consolidation market is set to take off. But before superfunds begin taking on schemes, the regulator must have 'rigour and understanding' of the market, David Fairs tells James Phillips.
Webinar: Clara Pensions, KPMG and The Pension Superfund discuss DB consolidation
In this webinar, panellists discuss some of the key questions around defined benefit consolidation, including what it is trying to achieve and the suitability of various models.
The Pension Superfund announces second deal
The Pension Superfund has signed its second deal, agreeing to take on £300m of defined benefit (DB) liabilities from an unnamed pension scheme.
Five stories you may have missed this week
This week's top stories include ITS' management buyout from Mercer, and The Pensions Regulator launching a probe into single-employer defined contribution schemes' default funds.
Trustees 'could miss chance' to boost member security from lack of superfund awareness
Three in five trustees have not heard of Clara Pensions, one of two defined benefit (DB) consolidators to have launched since last year's government white paper.
How to assess the benefits of DB consolidators
Redington has unveiled a report asking if DB consolidation is good for schemes and members. Kim Kaveh looks at the detail.
DWP sets out plans for DB consolidator regulation
A regime similar to that for defined contribution (DC) master trusts will be set up for regulating defined benefit (DB) consolidators under plans announced today.
Nearly half of FTSE 350 DB schemes in surplus; consolidation solution for 'significant minority'
Nine in 10 FTSE 350 defined benefit (DB) pension schemes could pay off their IAS19 deficit with less than six months of earnings, according to Hymans Robertson.
The Pension Superfund names Richard Wohanka as trustee chairman
Richard Wohanka is to chair The Pension Superfund's trustee board, working alongside professional firm 2020 Trustees to safeguard members' benefits.
Alan Rubenstein: DB consolidation right answer for only a 'minority' of schemes
There will be "many flavours" of defined benefit (DB) consolidators but consolidation will only be the right answer for a minority of schemes, Alan Rubenstein says.
Five stories you may have missed this week
This week's top story was British Airways' Airways Pension Scheme completing a £4.4bn buy-in with Legal & General, the market's largest ever single transaction, making 2018 a record year for bulk annuities.
Rubenstein quits The Pension Superfund as first deal looms
Alan Rubenstein and Marc Hommel are stepping down from their positions as chief executive and head of origination at The Pension Superfund, just six months after its launch.
Rubenstein: Low risk consolidators should not face special levy
The Pension Superfund has rejected Pension Protection Fund (PPF) suggestions that consolidators should be subject to a specially-curated levy.
The Pension Superfund to split surplus with members and capital providers
Any surplus generated by The Pension Superfund will be shared between members and the defined benefit (DB) consolidator's capital providers, Alan Rubenstein has said.
Consolidation agenda 'hijacked' by commercial vehicles
Vehicles to promote and enable pension scheme consolidation have been accused of forgetting the policy's intention of boosting outcomes for members of sub-scale schemes.
Rubenstein: 'More action' needed on 'ridiculously long' recovery periods for underfunded DB schemes
Former Pension Protection Fund (PPF) chief executive Alan Rubenstein says he would have liked to see 'more action' on recovery periods for underfunded schemes.
Five stories you may have missed this week
This week's top stories included coverage of the much-anticipated defined benefit (DB) white paper and the sector's reaction.
Alan Rubenstein launches 'Pension SuperFund' DB consolidator
Defined benefit (DB) schemes are to be offered a new consolidator as the former chief of the Pension Protection Fund (PPF) launches 'The Pension SuperFund'.
