All News articles – Page 25
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NewsLGPS chief urges councils to preserve pension resources
The chair of the Local Government Pension Scheme’s advisory board has urged local councils not to cut the budgets of their pension teams as officials come under pressure to cut costs.
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NewsCompetition for small scheme bulk annuity deals increasing, data shows
Plus: Royal London lands buy-in deals with Lufthansa schemes and PIC insures financial regulator’s pension plan.
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NewsPeople’s Pension launches in-house investment unit
DC master trust The People’s Pension has established an in-house investment unit under the leadership of chief investment officer Dan Mikulskis, as it prepares for significant asset growth over the next five years.
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NewsLGPS pools back £510m affordable housing fund
The London CIV and ACCESS pools have invested in a new round of fundraising for an affordable housing strategy run by Legal & General.
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NewsAviva Investors launches LTAF for venture capital investment
The company’s defined contribution master trust has backed the new strategy with a £150m seed investment.
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NewsTPR chair praises industry diversity progress
The pensions industry is doing “a million times better” on diversity – but there are still areas for improvement in recruitment practices.
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NewsBank of England launches repo facility for pension funds
The Bank of England has this week opened a derivatives trading facility to support pension funds and liability-driven investment managers at times of market stress.
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NewsDWP to consider changes to PPF levy [updated]
The next PPF levy bill could be smaller or even zero, after the DWP agreed to consider changes to the levy rules.
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NewsMPs seek to force government’s hand on WASPI compensation
MPs have tabled a bill aimed at forcing the government to compensate women who were victims of maladministration related to the rise in the state pension age.
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NewsL&G insures Sanofi pension fund for £1.4bn
The deal insures the benefits of 4,900 retirees and 5,600 deferred members, and follows a £760m buy-in completed in 2021.
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NewsGovernment to announce DB surplus extraction rules in the spring
The government has confirmed plans to relax rules around defined benefit pension scheme surpluses, paving the way for excess funds to be paid out to members or employers.
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News2024 was record year for bulk annuities, data shows
Preliminary data on bulk annuity transactions shows that approximately £52bn worth of deals were completed last year – a new record.
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NewsChancellor expected to loosen rules on DB surpluses [updated]
Long-awaited changes to defined benefit scheme surplus rules will be announced this week.
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NewsRoyal London insures Rockwool scheme through £53m buy-in
Royal London has insured the defined benefit pension scheme for insulation manufacturer Rockwool through a £53m buy-in.
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NewsNottinghamshire reviews local property investment portfolio
The £7.3bn local authority pension fund is to review a local property portfolio in light of underperformance and a lack of scale.
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NewsHMRC moves to address pension tax overpayment issue
HM Revenue & Customs (HMRC) is to refund £49.5m in overpaid tax to people who withdrew cash from their pension pots in the last three months of 2024.
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NewsLondon CIV appoints former Tesco investment boss as CIO
The capital’s LGPS pool has appointed a new chief investment officer – the fifth person to hold the position in eight years.
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NewsPLSA: Don’t make pension schemes carry inheritance tax burden
Plans to charge inheritance tax on unused retirement pots risk turning pension schemes into tax administrators and creating unnecessary distress for bereaved families, according to the Pensions and Lifetime Savings Association.
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NewsL&G Mastertrust hits £30bn as DC provision swells
The master trust is the first commercial vehicle to have reached this size, as the government pushes for DC scheme consolidation.
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NewsLGPS Central takes on £11bn in passive mandates
LGPS Central now runs more than £43bn on behalf of its partner funds, as the government seeks to accelerate pooling and expand the services offered by the pools.