ESG Watch: Warning to pension schemes; MSCI's call to asset managers; Russell Investments outlines 2050 net-zero goal
Professional Pensions rounds up some of the latest ESG and climate news from across the industry.
Willis Towers Watson has committed its delegated investment portfolios to net zero by 2050, with at least a 50% reduction by 2030.
The Axa UK Group Pension Scheme has agreed a £3bn longevity swap with Hannover Re, insuring the longevity risk of a largely non-pensioner population.
There have now been a total of 33 longevity swaps over £1bn publicly announced. The full list, provided by Willis Towers Watson and through PP research, is as follows...
Governance issues can directly impact the outcomes and value for money experienced by defined benefit (DB) scheme members, according to a paper from the Society of Pension Professionals (SPP).
The countdown to net zero is now well underway, Hope William-Smith take a look at how schemes are aligning with Paris Agreement goals.
The UK recorded a compound annual growth rate of 4.6% in the last decade and is now the third largest global pension market, having slipped behind Japan during a difficult 2020.
After a decade of de-risking, there is still more to do, particularly for those schemes late to the hedging party, writes James Phillips.
The Asset Management Exchange (AMX) and DWS have launched an investment solution which allows schemes in pooled funds to express their stewardship preferences.
Hymans Robertson has acquired Bath Actuarial Consulting (BAC) in a bid to boost its corporate consulting business.
The Investment Consultants Sustainability Working Group (ICSWG) has launched a guide to help trustees assess their investment consultants’ climate competency.
Pension risk transfer volumes this year will look similar to those in 2020 as market volatility creates opportunities for schemes able to act fast, according to Willis Towers Watson.
The Pensions Management Institute (PMI) has appointed three non-executive directors and an executive director to its board.
The Baker Hughes (UK) Pension Plan has secured approximately £100m of liabilities through a buy-in with Just Group.
The Reckitt Benckiser Pension Fund has secured a £415m buy-in with Scottish Widows, insuring the benefits of around half of pensioners.
This week’s top stories included the Marks and Spencer Pension Scheme completing two buy-ins, while the Work and Pensions Committee submitted an amendment to the Pension Schemes Bill.
The BHS Senior Management Scheme has agreed a £2.5m buy-in with Legal & General (L&G) Assurance Society, securing benefits outside of the Pension Protection Fund (PPF).
Trustees need to address two urgent priorities in order to “unlock real ESG action” in UK pensions, Willis Towers Watson says.
Willis Towers Watson has set out a diversity action plan for the investment industry after its research found progress on diversity is “disappointingly slow” across the entire sector.
Just one in six (16%) of schemes believe the Covid-19 pandemic has weakened their sponsor’s ability to support them in the long term, research by Willis Towers Watson finds.
Two in five UK defined benefit (DB) schemes expect to complete a bulk annuity or longevity swap transaction within the next three years, Willis Towers Watson research finds.
This week’s top stories included the passing of the Pension Schemes Bill in the House of Commons at the second reading. Also, Willis Towers Watson claimed that collective defined contribution pensions could average significantly higher than either defined...
Here they are - the winners of the UK Pensions Awards 2020...
Institutional investors risk a disconnect between ambition and reality if they focus on measuring investment impact without explicitly linking it to value creation for stakeholders, The Thinking Ahead Institute (TAI) warns.