All Local Government Pension Scheme (LGPS) articles – Page 20
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News
Scottish charities face insolvency as exit debt bites
Community admission bodies in the Scottish Local Government Pension Scheme are in the middle of a debt crisis, accountants have said, but ceasing accrual or exiting the LGPS risks triggering unmanageable cessation debt and driving admitted bodies into insolvency.
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FeaturesNilgosc outvotes social infrastructure sceptics
The Northern Ireland Local Government Superannuation Committee has voted for social infrastructure as a suitable investment type, despite concerns among some committee members about political risk and the impact on public services.
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News
Manager stops single fund meetings as LGPS pools take shape
Fund manager Baillie Gifford has stopped attending and presenting at committee meetings of several Local Government Pension Scheme clients, demonstrating the trade-off between fees and face-to-face interaction that can come with asset pooling.
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FeaturesSouth Yorks fines employers for late contribution returns
The South Yorkshire Pensions Authority has witnessed an improvement in its service delivery, following the launch of a new pensions administration strategy which allows it to fine tardy participating employers.
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OpinionHow far have we come with LGPS infrastructure investment?
At the outset of the Local Government Pension Scheme pooling initiative, George Osborne’s Treasury expressed its disappointment at the average LGPS infrastructure allocation of just 1 per cent in England and Wales.
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OpinionHow consultants can prepare for scheme consolidation
The pensions industry, particularly the segment dealing with defined benefit schemes, is notoriously fragmented. In the UK alone there are more than 6,000 pension funds. From a macroeconomic perspective this does not make much sense.
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OpinionWhat are the obstacles to DB consolidation?
The UK government, multiple industry figures, and many of those within the pensions world have been highlighting the virtues of consolidation as one possible solution to the UK’s defined benefit deficits.
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OpinionLiquidity risk is here to stay
From the blog: Market liquidity is reducing. It's been an issue for a while, and it is only going to intensify. As such, it holds serious ramifications for investors globally.
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News
First asset managers commit to LGPS transparency code
The Local Government Pension Scheme advisory board has launched its code of transparency to improve cost disclosure, amid early indications that asset managers will sign up.
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Features
Dyfed 97% funded but private schemes lag behind
The Dyfed Pension Fund is approaching solvency as an investment review is set to largely stick with the scheme’s equity-heavy asset allocation, making for a sharp contrast to the situation at many private sector schemes.
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FeaturesCornwall agrees new private credit allocation
The Cornwall Pension Fund is set to make an allocation to private credit, an asset class increasingly popular among schemes as tightened bank regulation has opened up a new range of investment options.
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News
LGPS gets LTA and AA modelling tools, but tax complexity limits benefits
The Local Government Pension Scheme has introduced a check tool for members as the lifetime and annual allowances complicate life for those with large defined benefit pensions and higher salaries.
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NewsLGPS unmarried couples discrimination unlawful, Supreme Court rules
The Supreme Court has ruled that regulations requiring unmarried Local Government Pension Scheme members to nominate a cohabiting partner in order for them to receive a survivor’s pension contravenes the European Convention on Human Rights.
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OpinionWill government infrastructure investment crowd out pensions?
With monetary policy reaching its limits, we expect to see a global shift to fiscal policy in coming years. Additional infrastructure spending is increasingly likely – economists suggest it contributes more to economic growth than other fiscal policies.
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OpinionLGPS funds tackle a range of challenges head on
From the blog: More than half (56 per cent) of global public pension funds with assets under management of $10bn (£8bn) or more feel under pressure to cut costs.
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NewsIsle of Wight's outperformance vindicates active management
The Isle of Wight Pension Fund’s funding level jumped from 78 per cent to 92 per cent over three years, posting returns that reignite the debate over active and passive fund management.
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Features
Brexit, pooling and transparency: Top investment stories from 2016
Year in review: Investment fees and the impact of Brexit on schemes’ portfolios stood out among the most salient subjects for pension schemes in 2016, while the ongoing low-yield environment prompted funds to seek higher returns and cut back on costs.
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Opinion
Can global DB experience help the UK out of crisis?
UK pensions, we are often told, are in crisis. Sustained downward pressure on yields have widened scheme deficits over the year, with the prospect of higher inflation just another concern to add to trustees’ agendas.
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OpinionLow 50/50 take-up means assumptions must be revised
Recent demographic analysis highlights the fact that the new Local Government Pension Scheme 50/50 option – where members pay half of contributions in return for half of the benefits – has not yet captured imaginations.
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OpinionWhere the LGPS currently stands on pooling
Nearly 12 months have passed since the government set out the criteria for pooling Local Government Pension Scheme investments in England and Wales. Since then, administering authorities have come together to set out their proposals on pooling and how they would meet those criteria.