All Hogan Lovells articles
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NewsM&G completes £286m Northern Bank BPA deal
The transaction is the second with M&G's insurance subsidiary Prudential since it returned to the BPA market.
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NewsL&G agrees to Cable and Wireless £340m buy-in
Legal & General (L&G) said the deal, worth around £340m with the Cable and Wireless Superannuation fund has secured the benefits of around 1,800 retirees and deferred members and marks the fund's third and final transaction.
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NewsTomkins Schemes complete £132mn full buy-ins
On the go: Two pension schemes sponsored by Gates Group, the Tomkins Schemes, have completed full buy-ins worth a combined £132mn with Pension Insurance Corporation.
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FeaturesWill we see another ‘black swan’ year for pensions in 2023?
Will we see another 'black swan' year for pensions in 2023? A tidal wave of new legislation and regulatory guidance is in store for scheme sponsors, trustees and pension professionalsEnterkeywords.sh_embed {position: relative;height: auto;width:100%;z-index: 0;overflow: hidden;background-color: #222;color: white;font-family: 'Lato', 'Helvetica Neue', Helvetica, Arial, sans-serif;}.sh_embed * {-webkit-box-sizing: border-box;-moz-box-sizing: border-box;box-sizing: border-box;}.sh_embed .sh-embed-bg {position: ...
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OpinionUnused legislative rule solves trustees drawdown conundrums
Section 273B of the Finance Act 2004 was introduced as part of the “pension flexibilities” changes and came into force at the end of December 2014.
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NewsPPF announces specialist panel to assist with overfunded schemes
On the go: The Pension Protection Fund has appointed Hymans Robertson, LCP, Barnett Waddingham and PwC to provide transaction advice to schemes in assessment that are overfunded on a PPF basis.
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NewsGallaher Pension Scheme agrees £1.7bn buy-in, IMI derisks further
Risk watch: A roundup up of the latest derisking transactions, including the Gallaher Pension Scheme’s deal with Standard Life, and the IMI 2014 Deferred Fund buy-in with Pension Insurance Corporation.
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NewsCould FSCS cope with a major bulk annuity provider default?
As sponsors offload their pension schemes to insurers, industry experts fear that an ever-increasing concentration of assets with a small group of players could lead to compensation schemes being overwhelmed in a major downturn.
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News
Ombudsman decision sets financial loss precedent
A recent Pensions Ombudsman determination has opened the floodgates for financial loss claims resulting from the mere possibility of missing out on stock market profit, due to trustees being tardy in processing transfers.
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NewsESG gauntlet laid down as member demand grows
Asset manager Schroders says trustees do not do enough to communicate their views on sustainability to their managers, as environmental, social and governance issues rise up the institutional and consumer agenda.
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Features
University of Birmingham replaces GPP with master trust
The University of Birmingham has replaced its group personal pension plan with a master trust administered by a different provider, following a review of staff retirement savings arrangements.
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PodcastsPodcast: What can we learn from the Barnardo's outcome?
Podcast: Earlier this month, the Supreme Court ruled that Barnardo’s cannot change the inflation protection it provides to members of its defined benefit scheme from the retail price index to the consumer price index. So, what does the result mean for other DB pension funds and their sponsors? Matthew de Ferrars, pensions partner at law firm Pinsent Masons, and Faye Jarvis, pensions partner at law firm Hogan Lovells, discuss what trustees can learn from the recent Barnardo’s outcome.
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FeaturesNortel's £2.4bn buyout pricing beats offers from superfund
When Canadian telecoms company Nortel filed for bankruptcy in 2009, prospects for its defined benefit pension scheme members looked bleak.
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News
Could mastertrust consolidation result in stranded schemes?
Strict requirements for mastertrusts to contingency plan for their own demise as part of the sector’s new authorisation regime may have unintended consequences if wound-up schemes become stranded, experts have warned.
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OpinionStranded in a failed mastertrust
From the blog: A by-product of the introduction of auto-enrolment has been the establishment of nearly 90 mastertrusts, many set up with a commercial objective. A few of the larger schemes have started to move to profit, but with a 0.75 per cent charge cap most still rely on their sponsors to make good shortfalls in expenses.
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NewsLeonardo Helicopters extends Pie and switches to CPI
Leonardo Helicopters has decided to keep its scheme open to accrual but plans to extend a pension increase exchange while tweaking the inflation measure for future benefit build-up.
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News
Nortel reaches PPF-plus after nine years of 'scorched earth'
The UK Nortel Pension Scheme has retrieved enough assets from the insolvency of its communications giant parent to buy out benefits at a level above that guaranteed by the Pension Protection Fund.
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News
Attractiveness of deferred debt arrangement remains to be seen
Employers in multi-employer pension schemes will now be able to delay the requirement to pay an employer debt when they cease accrual in the scheme, but opinions are divided on how attractive this will be.
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NewsNissan defies carmaker trend towards DC
Car manufacturer Nissan is consulting on a proposed switch to a career average scheme to reduce the volatility of its pension liabilities, amid recent and proposed moves to defined contribution in the industry.
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NewsSouthampton uni's DB closure proposal poorly timed, experts say
The University of Southampton is consulting on the closure of its defined benefit scheme for non-academic staff, a move experts have said is not well timed given current scrutiny of senior pay packages at universities.