All Mercer articles – Page 5
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News
Littlewoods scheme buys in remaining £930m with Rothesay
On the go: The Littlewoods Pensions Scheme has secured almost £1bn of its defined benefit liabilities with insurer Rothesay Life, with the plan’s pension promises now completely covered by bulk annuity contracts.
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News
UBS pension scheme enters into £1.4bn longevity hedge
On the go: The UBS (UK) Pension and Life Assurance Scheme has entered into a £1.4bn longevity hedge with Zurich Assurance, designed to protect the scheme against the risk of the 2,700 members covered living longer than expected.
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PodcastsPodcast: The days of ‘amateurish’ trusteeship are over
Podcast: The challenges posed by Covid-19 will accelerate the move toward professional trusteeship, according to Mercer’s chief actuary Charles Cowling, who argues that the responsibilities in this area post-coronavirus will be too much for lay trustees to handle alone. He and Catherine McFadyen, head of public sector actuarial, benefits and governance at Hymans Robertson, discuss LGPS funding, the impact of mortality rates, and give their predictions about the post-crisis world.
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News
Co-op scheme completes £350m buy-in with Aviva
On the go: The Co-operative Pension Scheme has completed a £350m buy-in with Aviva, taking its total transactions this year beyond £2bn, as defined benefit schemes look to capitalise on cheaper deals amid the coronavirus pandemic.
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News
Mercer calls for six-month DB contribution holiday
The government has been called on to take “urgent action” and implement a six-month contribution holiday for defined benefit pension schemes, in a bid to allow sponsors to keep their businesses afloat.
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News
Suspended deficit contributions could reach £1bn
On the go: Up to £1bn in deficit contributions could be suspended this year as trustees approve payment holidays in a bid to help sponsors survive the Covid-19 crisis.
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FeaturesCounting the cost of coronavirus
Counting the costof coronavirus Coronavirus and the market volatility that has greeted it has dealt a triple blow to defined benefit schemes - damaging asset values, causing wild swings in liabilities, and weakening sponsor covenant. Pensions Expert looks at which sectors will be worst hit, and what trustees can do ...
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NewsCovid-19: Volatility returns to markets after UK banks scrap dividends
While UK banks suspended dividend payments amid pressure from the regulator, European markets returned to volatile conditions. Meanwhile, FTSE 350 companies’ defined benefit schemes reached an accounting surplus.
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News
WPP shifts further £250m with PIC buy-in
On the go: Advertising giant WPP has entered a £250m buy-in contract with the Pension Insurance Corporation, adding to a £140m transaction already completed with the same insurer in 2018.
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NewsTPR paves way for three-month DB contribution holiday
The Pensions Regulator has launched new guidance aimed at helping employers freeze their defined benefit obligations for three months in response to the economic fallout from coronavirus.
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NewsCovid-19: Markets bounce back; bulk annuity prices drop
While the FTSE 100 registered the biggest one-day gain since 2008, bulk annuities seem to be significantly more affordable than they were before. At the same time, alternative assets have not seen the biggest impact yet. Read our round-up of pensions and finance news about the coronavirus outbreak.
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NewsTCFD reporting confirmed as climate guidance takes shape
Trustees should stress-test their portfolios against a range of climate change scenarios, according to provisional guidance launched on Thursday, as pensions minister Guy Opperman warned of consequences for those in dereliction of their duties.
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News
Mortality rates see highest reduction since 2011
On the go: Mortality rates in England and Wales were on average 3.8 per cent lower in 2019 than in 2018, which is the largest annual fall in mortality rates since 2011, new data showed.
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Features
Hundreds of thousands of micro pots suffer remorseless attrition
Data crunch: Eight years after the auto-enrolment revolution, millions of workers’ pensions are left languishing in master trusts when they move jobs.
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News
AIB scheme pioneers alternative derisking solution
The AIB Group UK Pension Scheme has entered into a £250m insurance contract to hedge the investment risk associated with a portion of its liabilities, becoming the first defined benefit plan to undertake an alternative derisking solution.
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News
Kent Council fund initiates revamp of its ESG policies
Kent County Council is sprucing up its responsible ownership pension policy as climate concerns become mainstream.
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News
Scottish local funds urged to develop information standards
Inconsistencies and lack of standardisation in information are frustrating efforts to make a ‘like-for-like’ comparison between local authority funds in Scotland, a new government report has found.
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News
ESAB Group scheme completes £255m buy-in
On the go: The ESAB Group Limited Pension & Life Assurance Scheme has completed a £255m buy-in with Rothesay Life.
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News
Bulk annuity market to reach £540bn in next decade
On the go: The bulk annuity market is expected to quadruple in the next decade compared with the current one, which saw £135bn paid to insurers, according to estimates from Mercer.
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News
DB deficits at lowest value since May
On the go: The deficit of UK corporate defined benefit schemes dropped by £30bn to £190bn during November – its lowest level since May, when it reached £180bn, according to PwC.