All News articles – Page 119
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NewsHymans Robertson joins impact investing community
On the go: Hymans Robertson has announced that it has joined the impact investing community, Pensions for Purpose.
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NewsOmbudsman criticises civil service pensions administrator
The Pensions Ombudsman has partially upheld a complaint brought against MyCSP, which administers Civil Service Pensions, for causing “significant distress” in its handling of an overpayment case.
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NewsUK meat board appoints actuarial adviser for DB schemes
On the go: The Agriculture and Horticulture Development Board has appointed an actuarial adviser for its two legacy defined benefit schemes, the circa £25.4m Home-Grown Cereals Authority Pension Plan and the circa £203.2m Meat and Livestock Commission Pension Scheme.
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NewsDB funding level holds steady in Q2
On the go: UK defined benefit funding levels have remained flat quarter on quarter despite improvements since the onset of the Covid-19 pandemic, but sponsor health remains a top concern, Legal & General Investment Management reports.
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NewsBrunel Pension Partnership launches listed markets fund
On the go: The £28bn Brunel Pension Partnership has launched its £2.1bn Sterling Corporate Bond Fund, selecting Royal London Asset Management to handle the assets.
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NewsCorporate bond managers urged to explain climate transition risks
As defined benefit schemes are increasingly expected to replace their equity portfolios with corporate bond holdings in their journey to reach funding targets, pension funds and their asset managers are being urged to carefully assess companies’ attitudes to climate transition risks.
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NewsTPR abandons plans to impose cap on illiquid assets
On the go: The Pensions Regulator has dropped controversial plans to limit the amount funds can put into illiquid assets after the government urged trustees to invest in more long-term assets such as infrastructure to support the UK recovery.
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NewsUK’s bulk annuity market to reach £25bn in second half of 2021
On the go: Despite a quieter start to the year in the UK’s bulk annuities market, the second half of the year is “expected to be very busy” reaching a volume of around £25bn in deals, analysis from Legal & General has shown.
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NewsGovt urges pension schemes to invest in the UK recovery
Boris Johnson and Rishi Sunak have urged UK pension schemes to invest more in long-term UK assets with the goal of fuelling the recovery of the post-pandemic economy.
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NewsKPMG fined £13m for ‘dumping’ Silentnight scheme into PPF
On the go: KPMG has received a £13m fine over serious misconduct in its role in the sale of bed manufacturer Silentnight, which lead to the company’s insolvency and its pension scheme having to be absorbed by the Pension Protection Fund.
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NewsUK investors consider alternative investment strategies
On the go: More than two-fifths of UK investors are considering alternative investment strategies in light of record low-interest rates, according to research commissioned by NexGen Cloud.
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NewsStronger pension risk transfer market expected in H2 after ‘Covid hangover’
The pensions risk transfer market will pick up for the last six months of 2021 with an expected strong pipeline after a subdued first half, according to Legal & General and Willis Towers Watson.
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NewsInvestors in line for £11m windfall as FCA wins Avacade case
On the go: The Financial Conduct Authority has won its case against unregulated introducer Alexandra Associates UK and its directors over the troubled transfer of £92m pension assets, after previous findings were upheld in the Court of Appeal.
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NewsNatWest pension fund invests in later-living housing
On the go: The £53.1bn NatWest Group Pension Fund, which comprises the £46.5bn Main Section, £1.1bn AA Section, £199.5m NWM Section and £73.6m RBSI Section, has entered into a joint venture partnership with Legal & General to invest £500m in net-zero-carbon ‘later-living’ housing. RBS Investment Executive Limited and Aon advise.
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NewsPublic pension fund staging on dashboards could be set for delays
Administrative burdens from the McCloud/Sargeant judgments to remedy age discrimination could delay the staging of public pension funds onto dashboards and cause confusion for members.
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NewsShell pensions close funding gaps
On the go: The Shell Contributory Pension Fund fund has moved into surplus, while its sister scheme, the Shell Overseas Contributory Pension Fund is close to reaching full funding, results from the two schemes’ latest triennial actuarial valuations show.
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NewsPensions at bottom of list for young savers
On the go: Young savers have put pension saving at the bottom of their list of priorities and would rather save for a home or trips away.
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NewsThames Water schemes appoint Redington as adviser
On the go: The £1.7bn Thames Water Pension Scheme and the £770.9m Thames Water Mirror Image Pension Scheme have appointed Redington as their new investment adviser. Separately, over the year to March 31 2021, one of the schemes reallocated some of its assets from a diversified growth fund to corporate credit.
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NewsRailways Pension Scheme manager launches internal trading desk
On the go: RPMI Railpen, the Railways Pension Scheme investment manager, has launched an internal trading desk to further enhance its in-house capabilities.
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NewsDeficit woes deepen as shortfall continues to plague USS
The deficit of the Universities Superannuation Scheme now exceeds £15bn as an increase in assets was outweighed by rising liabilities, in a year the pension fund’s portfolio performed below its benchmark for the first time since 2013.