All articles by Angus Peters – Page 6
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NewsCovid-19: Volatility returns to markets after UK banks scrap dividends
While UK banks suspended dividend payments amid pressure from the regulator, European markets returned to volatile conditions. Meanwhile, FTSE 350 companies’ defined benefit schemes reached an accounting surplus.
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News
USS sticks with March valuation despite battered funding level
Market volatility has seen the Universities Superannuation Scheme’s asset portfolio shed more than 13 per cent of its value and its deficit pass £11bn in recent days, triggering concerns, but as yet no action, from trustees.
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News
WPP shifts further £250m with PIC buy-in
On the go: Advertising giant WPP has entered a £250m buy-in contract with the Pension Insurance Corporation, adding to a £140m transaction already completed with the same insurer in 2018.
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NewsCovid-19: Actuaries to rescue as private markets to be tested
Analysis of private debt markets suggests that with certain sectors of borrowers struggling with cash flows, lenders will have to be flexible and rely on well-written covenants. Meanwhile, actuaries are looking to help fight the global pandemic.
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NewsCovid-19: PASA steps in with admin guidance, while gloom gathers in auto ABS
The Pensions Administration Standards Association has urged providers to prioritise the payment of pensions as it struggles with the challenges of working remotely, while the Covid-19 pandemic could affect the automotive industry and financial instruments backing lease deals. Elsewhere in our round-up of daily market moves and pensions updates, one asset manager says schemes should be wary of inferring a bounceback from calming stock markets.
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NewsTPR paves way for three-month DB contribution holiday
The Pensions Regulator has launched new guidance aimed at helping employers freeze their defined benefit obligations for three months in response to the economic fallout from coronavirus.
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Features
Opportunity knocks, but can active managers actually capitalise?
Data crunch: Active asset managers have been making some bold claims amid the market maelstrom unleashed by Covid-19.
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NewsCovid-19: Rally continues as BoE sounds gloomy note
The Bank of England's prediction of a deep recession, and grim news in the US labour market, looked to have cooled the bounce-back in equity markets before a late surge, while new analysis suggests further pain for credit markets if the pandemic worsens, and actuaries call on the Pensions Regulator to do more. Read our round-up of pensions and finance news about the coronavirus outbreak.
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NewsMPs’ scheme under fire for dragging feet on climate change
The pension scheme for MPs is not doing enough to combat the risks posed by climate change, according to a divestment campaign backed by 360 current and former parliamentarians.
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News
Plumbers’ scheme braced for legal battles over employer debts
Trustees of the £2bn Plumbing and Mechanical Services (UK) Industry Pension Scheme have asked a Scottish court to let them use plan assets to fund legal battles, after an unnamed participating employer commenced action against the fund.
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News
BA schemes agree acquisition and leaseback of Ted Baker HQ
On the go: The trustees of British Airways’ pension schemes have moved to capitalise on businesses’ need to refinance amid the Covid-19 pandemic, purchasing the London headquarters of struggling fashion retailer Ted Baker.
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News
Deferral of DB contributions ‘may be appropriate’
On the go: New guidance for defined benefit trustees accepts that some employers may need to delay deficit repair contributions due to economic disruption caused by the Covid-19 outbreak, but urges schemes to test employer claims carefully.
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NewsVolatility exposes trustees’ slow reaction times
Volatility playing havoc with defined benefit funding ratios may speed the transition towards fiduciary management and consolidation of final salary schemes, according to governance specialists.
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News
BoE’s return to QE adds to DB woes
On the go: The Bank of England has cut its base rate to a historic low of 0.1 per cent, while announcing plans to increase its balance sheet of bonds by £200bn.
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News
Trustee boards display unacceptable lack of diversity
On the go: The Pensions and Lifetime Savings Association has published a guide to improving diversity and inclusion in pensions, amid enduring concerns over groupthink and prejudice in the trust-based system.
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OpinionMinister wide of the mark on self-employed
Instant analysis: Speeches made by government ministers at the Pensions and Lifetime Savings Association's conferences are one of the year's highlights for pensions policy-watchers, and often say as much about the person as the policies they launch.
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News
Opperman to legislate for DC consolidation
On the go: The minister for pensions and financial inclusion has unveiled plans to force the consolidation of subscale defined contribution arrangements.
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NewsTCFD reporting confirmed as climate guidance takes shape
Trustees should stress-test their portfolios against a range of climate change scenarios, according to provisional guidance launched on Thursday, as pensions minister Guy Opperman warned of consequences for those in dereliction of their duties.
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News
LGPS pool chair: Fragmented system cannot continue
On the go: The UK's private sector pension schemes will be forced to consolidate in the same way as the Local Government Pension Scheme, according to the chair of the Brunel Pension Partnership.
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News
USS likely to breach deficit trigger
The Universities Superannuation Scheme could breach funding triggers relating to the size of its deficit, as coronavirus continues to cause turmoil in markets.