All Mercer articles – Page 2
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NewsNew funding proposals threaten ‘the demise of DB schemes’
New defined benefit funding rules may lead to “potentially severe outcomes”, consultancy LCP has warned, while Mercer has predicted that the regulations would “accelerate pension liability buyouts and the demise of DB schemes”.
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NewsFalling bond yields drive down July FTSE 350 surplus by £9bn
On the go: The pension funding surplus of the UK’s biggest 350 listed companies fell last month amid choppy markets and falling bond yields.
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NewsJaguar and Mercer rapped by ombudsman for ‘woeful’ service
The trustee of the Jaguar Pension Plan, and its administrator Mercer, have been ordered to compensate a member who retired on the basis of incorrect information about his pension.
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NewsEDS scheme secures £1.1bn full buy-in
On the go: The £1.5bn EDS 1994 Pension Scheme has secured a £1.1bn full buy-in with Pension Insurance Corporation.
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NewsUBS scheme extends longevity swap
On the go: The UBS (UK) Pension and Life Assurance Scheme has extended its longevity swap with Zurich Assurance and Canada Life Assurance Company by £0.5bn.
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NewsBT sets 5-year carbon goal, Islington updates net zero targets
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including new decarbonisation targets from the £57.5bn BT Pension Scheme, an update to the £1.4bn London Borough of Islington Pension Fund’s responsible investment policy, and the Financial Conduct Authority’s delay to plans for sustainable investment labels.
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NewsNational LGPS Frameworks appoints admin companies
On the go: The National Local Government Pension Scheme Frameworks has appointed a series of companies to provide pensions administration and operational support services.
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NewsFTSE 350 DB deficit reaches two-year low amid bond yield rise
The accounting deficit of the defined benefit schemes of the UK’s 350 biggest public companies fell to £45bn at the end of last month — a level last seen in April 2020.
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NewsWandsworth weighs up renewables, asset owners demand engagement
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including the Wandsworth Pension Fund assessing opportunities in renewable infrastructure, the Net-Zero Asset Owner Alliance pushing for greater engagement, and the Institutional Investors Group on Climate Change highlighting the investment opportunities linked with the Paris Climate Agreement.
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NewsInvestors eye climate risk reporting omissions, CofE challenges VW
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including an investor coalition applying pressure on companies over their climate reporting, and the Church of England Pensions Board raising the heat on Volkswagen.
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NewsAlstom schemes appoint Mercer as fiduciary manager
On the go: Alstom UK’s Common Investment Fund has appointed Mercer to provide fiduciary management services for three of its defined benefit schemes with assets totalling £1.6bn.
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NewsAir Canada completes £380mn buy-in, Keysight signs £58mn deal
Risk watch: A roundup up of the latest derisking transactions, including the Air Canada (UK) Pension Trust Fund’s £380mn buy-in with Pension Insurance Corporation, and the Keysight Technologies UK Limited Retirement Benefits Plan’s £58mn deal with Just Group.
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News‘Core’ bulk annuity deals hit record level in 2021
On the go: Bulk annuity deals of £1bn or under reached a new high in 2021, in a year that saw volumes driven by momentum in the second half, according to Mercer research.
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NewsAbrdn steals limelight from superfunds with DB master trust
Abrdn is set to join the ranks of defined benefit master trust providers, with plans to launch its scheme in the second quarter of 2022.
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NewsChurch of England Pensions Board secures £160mn buy-in with Aviva
On the go: The £3.7bn Church of England Pensions Board has agreed a £160mn bulk purchase annuity buy-in with insurer Aviva Life & Pensions UK for its circa £646.1mn Church Workers Pension Fund defined benefit scheme.
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NewsUK bulk annuity deals drop at the end of 2021
Data crunch: The volume of bulk annuity transactions edged downwards towards the end of last year, according to new research, although buy-ins and buyout deals rose between Q3 and Q4.
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NewsWeir scheme and Capita to pay member after GMP blunder
The Weir Group Pension and Retirement Scheme, along with its former administrator Capita, have been ordered by the Pensions Ombudsman to pay a member £2,000 over the poor handling of his transfer value information.
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NewsIs legislation helping trustees on their journey to net zero?
When it comes to making their schemes greener, trustees have a lot to get their heads around. But current climate-related legislation is helping to focus minds and offer a framework for meeting net zero targets.
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NewsHonda pension scheme appoints Mercer as fiduciary manager
On the go: The £1.7bn Honda Group UK Pension Scheme has selected Mercer to provide fiduciary management services.
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NewsUK bumped up to 9th in Mercer’s Global Pension Index
On the go: The UK’s retirement system has improved, according to the latest Mercer CFA Institute Global Pension Index, but more must be done to reduce the gender pensions pay gap and adequacy for lower-paid workers.