All Consolidation articles – Page 11
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OpinionFirst superfund transfers will put trustee decisions under spotlight
Proper rules and regulations to protect members of defined benefit pension schemes transferred to new ‘superfund’ consolidators are yet to be set out.
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News
PLSA policy board sets priorities for next four years
On the go: The Pensions and Lifetime Savings Association’s new policy board has set its priorities for the next four years, with specialist sub-committees formed for defined benefit and defined contribution schemes, local authority schemes and master trusts.
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News
Pension professionals distrust consolidation, finds PMI poll
On the go: A significant minority of pensions professionals are distrustful of both defined contribution and defined benefit consolidation, according to a poll from the Pensions Management Institute.
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OpinionOnly 1% reach insurance, what about everyone else?
Clara Pensions chief executive officer Adam Saron hits out at “disingenuous” arguments being made in opposition to commercial consolidation, and makes the case for a superfund regulatory environment that avoids the strictures of Solvency II.
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News
Clara eyes Q2 transaction after consultation delays clearance
Commercial consolidator Clara Pensions expects to complete its first transaction within the next three months, according to the company’s founder and chief executive officer Adam Saron.
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News
Trustees lukewarm on consolidator benefits
On the go: Most defined benefit trustees doubt the ability of commercial consolidators to improve their members’ security, according to a new survey that also reveals widespread ignorance of the two new players in the market.
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OpinionSuperfunds: A safer prospect for members?
Aside from the constant, almost deafening chatter surrounding Brexit, the Department for Work and Pensions consultation on defined benefit consolidation – or superfunds – has been the talk of the pensions town over the past few weeks.
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News
DWP consultation ramps up pressure on small schemes to consolidate
The Department for Work and Pensions is ramping up the pressure on small schemes to consolidate and to consider long term illiquid investments.
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News
Insurers brace themselves for DB superfund disruption
Insurers are bracing themselves for disruption by superfunds, but their desire and capability to establish their own defined benefit consolidation vehicles remains unclear.
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OpinionTPR: 2019 must see member security improve
2019 already looks set to be a busy year. Notwithstanding the challenges that may be thrown in our direction, we think there is a lot to look forward to in pensions.
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OpinionData crunch: Consolidation will change shape of both DB and DC
Unlike pension systems in the rest of Europe, where large-scale pension funds are common, the UK is characterised by a large number of small, single-employer pension schemes. Some argue the disparate nature of UK pensions has created inefficiencies that should be addressed through consolidation.
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News
Smart absorbs Lighthouse master trust as consolidation intensifies
On the go: Financial advice business Lighthouse Group has decided not to pursue authorisation for its master trust, handing over employers and members to competitor Smart Pension.
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News
Rookes and Hirons-Wood join Pension SuperFund trustee board
On the go: Defined benefit consolidator the Pension SuperFund has announced the addition of two further trustees to its board.
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OpinionIs consolidation only for the healthy?
There are 11m people in the UK who are members of defined benefit pension funds. This means that anything the government or regulators say or do in respect of these schemes directly affects one in six of us.
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PodcastsPodcast: A closer look at DB consolidation
Podcast: Last month, the government published a consultation on the consolidation of defined benefit pension schemes. What is the outlook for DB superfunds? And what should trustees consider if they are thinking about switching from a sponsor covenant to a consolidator covenant? In this episode, Alex Hutton-Mills, managing director at Lincoln Pensions, and Paul McGlone, president of the Society of Pension Professionals, discuss the consultation and whether early adopter nerves are holding back inflows to the new DB consolidators.
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OpinionThe government’s pensions priorities for 2019
In the year ahead, the DWP, HMRC, TPR, FCA and any other arm of government with a role in UK pensions must be ready to minimise any damage and disruption arising from Brexit.
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News
TPG Sixth Street Partners to invest up to £500m in Clara Pensions
On the go: Superfund Clara Pensions has announced that TPG Sixth Street Partners, a global credit and credit-related investment platform partnered with private equity group TPG, will become its provider of long-term capital.
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News
Government fires ‘starting gun’ on superfund deals
A government consultation published last week will allow the UK’s commercial defined benefit consolidators to press ahead with their first deals, it has been claimed, although some experts say questions remain over how the businesses can be prudently regulated.
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News
DWP expects superfunds to have 99% probability of success
On the go: The Department for Work and Pensions has outlined its thinking on the regulation of commercial defined benefit consolidation vehicles in a consultation, removing a major hurdle to scheme sign-up.
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News
Fairs: Commercial consolidators pose new challenges for regulator
The Pensions Regulator has stated its support for the introduction of defined benefit consolidators, but is still grappling with key risks and challenges including the timing of necessary legislation and the impact consolidators may have on the marketplace.