All News articles – Page 69
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NewsBalfour Beatty Pension Fund completes £1.7bn longevity swap
On the go: The £4bn Balfour Beatty Pension Fund has signed a £1.7bn longevity swap transaction with Zurich Assurance and Scor.
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NewsLDI pooled funds determined Bank of England intervention
The Bank of England’s bond market intervention was determined by the lack of ability of liability-driven investment pooled funds to receive the liquidity needed from schemes to rebalance in a short period of time, Andrew Bailey has revealed.
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NewsTPR expects improved LDI liquidity buffers to be maintained
The Pensions Regulator has set out its expectation that liquidity buffers be maintained across pooled and leveraged liability-driven investment mandates, going beyond the demands of Irish and Luxembourgish regulators.
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NewsTPR investment lead mulls role of ‘groupthink’ in LDI crisis
The Pensions Regulator’s lead investment consultant, Fred Berry, has suggested that industry “groupthink” may have played a part in creating the conditions for the liquidity crisis which engulfed defined benefit pension schemes in the autumn.
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NewsRetirement standards compromised by changes in pensions system
On the go: Changes made to the UK pensions system are positive for sustainability but are leaving savers’ retirement standards compromised.
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NewsUSS surplus hints at ‘positive choices’ over contribution rates
On the go:The Universities Superannuation Scheme has swung into a £5.6bn surplus, according to its latest monitoring report, offering the possibility of “positive choices” regarding future contribution rates, while sparking fury among those taking strike action against scheme reforms.
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NewsPPF: True impact of LDI crisis is still unknown
The true impact of the liability-driven investment turmoil will only be known when schemes start publishing their annual accounts, especially for a group of pension funds that were not able to meet collateral calls and lost their hedges, the Pension Protection Fund’s head of LDI and credit has warned.
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NewsOne third of self-employed trial Nest members have ‘zero pots’
On the go: Around a third of self-employed Nest members in a Nest Insight savings trial have never made a contribution to their pension pot.
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NewsWebinar: Pension Protection Fund 2022 Purple Book
The Pension Protection Fund will be publishing its annual analysis of the defined benefit sector on December 1.
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NewsSome BSPS members to receive redress calculation by end of 2023
On the go: The Financial Conduct Authority has said that companies should provide British Steel Pension Scheme members with their redress calculation by the end of December 2023, if individuals opt to receive it as a lump sum.
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NewsLabour MPs table amendment to preserve EU PPF protections
Labour MPs have tabled an amendment to a bill aimed at revoking residual EU law, seeking to retain judgments linked to the Pension Protection Fund.
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NewsInflation is main concern for DB trustees and sponsors
On the go: Inflation and monetary policy represent the key concern for three-quarters (74 per cent) of pension trustees and their sponsors over the next six months.
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NewsNest plans boardroom overhaul in diversity drive
Nest is recruiting for three new non-executive directors as it attempts to improve the diversity of its board, the master trust’s chair has told Pensions Expert.
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NewsPublic sector pension statements’ deadline delayed
On the go: The government intends to delay the deadline for the issuance of pension savings statements covering the 2022-23 period by a year to October 2024 in certain public sector schemes, as part of the tax remedy to an age discrimination case.
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NewsTrustee pair receive suspended sentences for illegal loans
On the go: Two pension trustees who pleaded guilty to making illegal loans from a company pension scheme to its employer have received suspended prison sentences.
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NewsTPR threatens £50,000 fines for dashboards non-compliance
The Pensions Regulator will impose fines of up to £50,000 for non-compliance over pensions dashboards.
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NewsPodcast: Was the Bank of England right to intervene during the LDI crisis?
Podcast: Cartwright director of investment consulting Sam Roberts argues against the Bank of England’s autumn intervention in gilt markets, while the Lang Cat director of public affairs Tom McPhail gives his thoughts on the Autumn Statement.
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NewsValue over cost emphasised in new DC illiquid investment guides
On the go: Defined contribution scheme trustees are being encouraged to shift their focus on illiquid investments from cost to value, in a series of guides published by the Productive Finance Working Group.
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NewsPension savers lose £1.7bn on retirement transition
On the go: Workplace pension scheme members are losing around £1.7bn a year during their transition into and in retirement, according to new research from master trust HSBC Tomorrow.
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NewsExperts estimate £500bn in assets are ‘missing’ after LDI crisis
Around £500bn in pension scheme assets are “missing somewhere” as a result of the liability-driven investment crisis, the Work and Pensions Committee has been told, with experts also questioning the role of leverage in these funds and the need for more guidance from regulators.