All Hymans Robertson articles – Page 9
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News
Capital adequacy dispute threatens superfunds
Disagreement between the government and regulators has cast a question mark over the future of the UK’s defined benefit commercial consolidators.
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NewsBritvic seeks court approval for RPI/CPI switch
Soft drinks manufacturer Britvic is the latest business to attempt to switch the basis for its defined benefit pension increases from the retail price index to the consumer price index, with other companies reputedly queuing up to take legal advice on this very point.
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NewsWiden taper consultation to fix pensions tax system, experts say
A chorus of pension experts is urging the government to extend the ambit of its consultation on the workings of the tapered annual allowance to include the private sector along with other anomalies and injustices.
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News
HSBC scheme agrees £7bn longevity swap package
On the go: Trustees of the HSBC Bank UK Pension Scheme have agreed the second-largest longevity swap in UK history, insuring £7bn of the scheme's liabilities against living too long.
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NewsFCA lambasted for lethargy on contingent charging
The Financial Conduct Authority’s proposals to ban controversial charging structures were welcomed by the industry on Tuesday, but some have criticised the regulator for being slow to act.
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News
Nest to divest all tobacco holdings
On the go: Nest is to sell all its tobacco shares, the master trust has announced, as it warned of impending regulatory backlash against the sector.
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News
Marks & Spencer adds £1.4bn in new buy-ins
On the go: Marks & Spencer's UK defined benefit scheme has entered a £1.4bn buy-in with the Pension Insurance Corporation and Phoenix Life, bringing its total insured portfolio up to two thirds of its pensioner population.
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Features
UK charities feel strain of DB scheme funding
Data crunch: UK charities are feeling the strain of defined benefit funding – with the average FRS102 pension deficit equalling almost a fifth of unrestricted assets across the 40 largest charities by income in England and Wales.
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News
Return to equities not a sign of volatility ending, consultants say
Data crunch: UK pension fund allocations to equities ticked upwards in the first quarter of 2019, according to data collected by Pensions Expert’s sister title MandateWire, as managers sought to capitalise on falling prices in late 2018.
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News
DOIs: Could a cup of coffee lead to £1m DB fine?
A lack of clarity on proposed new legislation means a meeting over a cup of coffee to discuss a corporate transaction could cost an employer up to £1m in civil fines if a declaration of intent is not made in advance, according to law firm Pinsent Masons.
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FeaturesAkzoNobel valuation results in £550m Q1 funding call
Paint manufacturing giant AkzoNobel has contributed €639m (£548.8m) into its pension schemes in the first quarter of 2019 alone, after a triennial valuation increased the company’s funding obligations beyond its previous projections.
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PodcastsPodcast: Is LGPS governance up to scratch?
Podcast: From asset pooling and actuarial valuations, to administration and data, local government pension schemes have a lot to think about this year – meaning good governance is more important than ever. In this podcast episode, Kirsty Bartlett, partner at law firm Squire Patton Boggs, and Ian Colvin, head of LGPS benefits and governance at Hymans Robertson, discuss potential conflicts of interest, pressure on fund resources and the importance of focusing on administration.
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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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NewsGMB members accept revised pension offer from Historic Royal Palaces
Staff working for Historic Royal Palaces have accepted a revised offer on pension provision, ending months of dispute between the independent charity and the GMB trade union over the closure of their defined benefit scheme.
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Features
Data Crunch: Rush of pension capital into infrastructure continues
Pension money is pouring into infrastructure. Portfolio analysis by Pensions Expert’s sister title Mandatewire reveals that the cash-generative asset is proving the perfect fit for mature defined benefit schemes, despite buyout looming for some trustees.
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News
Last-minute dash expected for master trust authorisation
On the go: Only eight master trusts have applied for authorisation with the Pensions Regulator, leading to expectations that there will be a last minute dash as the March 31 deadline looms.
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Features
UK schemes slash equities following long bull market
The global financial crisis gave rise to a record-long bull run, but in recent years many DB pension funds have been preparing for the inevitable end to these highs by reducing their reliance on equities.
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FeaturesGSK launches new investment options for DC members
Global healthcare company GlaxoSmithKline and the trustees of its pension plans have introduced two new defined contribution lifestyle options, responding to a change in member retirement saving behaviour following the introduction of pension freedoms in 2015.
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News
Half of FTSE 100 liabilities funded to buyout levels by 2029
Full buyout was once a distant dream for many sponsors of UK defined benefit schemes.
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OpinionTop tips for a successful approach to the bulk annuity market
From the blog: 2018 is set to be a record breaking year in the bulk annuity risk transfer market.