All risk articles – Page 12
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OpinionWhy equity protection should never be too expensive for schemes
From the blog: Equity protection is back in vogue, with falls in markets at the start of the year putting downside protection strategies front of mind.
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News
Northumbrian Water makes moves to manage liabilities
Northumbrian Water has embarked on a multi-pronged liability management exercise in a bid to control its defined benefit obligations, including a pension increase exchange and employer-funded financial advice.
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OpinionHow to invest in distressed debt
As the economic cycle progresses, the prospect of the next downturn – and the likely rise in financial stress – looms larger in institutional investors’ minds, making now the time for pension funds to consider allocations to distressed debt.
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Opinion
How can schemes assess employer covenant strength?
Darren Redmayne chuckles good-naturedly, at what must be the thousandth time a journalist has asked whether the FTSE 100’s recently revealed accounting surplus means their defined benefit pension problems have gone away.
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OpinionESG investing has little to do with ethics
Environmental, social and governance factors, commonly known as ESG factors, have sparked debate in the pensions world for many years and given rise to much confusion.
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Features
Liquid alternatives: How diversified is your DC default?
Analysis: Defined contribution default funds are facing the unenviable task of constructing diversified portfolios with limited budgets and a requirement for liquidity. Could liquid alternatives help?
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OpinionWhat could we expect from the regulators’ joint pension strategy?
The Pensions Regulator and the Financial Conduct Authority are currently consulting on their joint strategy for regulating the pensions and retirement income sector.
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OpinionSchemes need a clear strategy for managing longevity risk
Increasing longevity is an important risk facing the trustees of defined benefit pension schemes. By offering a promise for life to members, they bear the risk that members live longer than expected.
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OpinionHow to oversee a fiduciary manager for your scheme
Trustee take-up of fiduciary management services has risen sharply over the past 10 years or so, in response to ever-increasing complexity in the world of investments.
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News
MPs probe pension funds on climate risk amid wider ESG push
MPs are probing pension funds on their approach to climate change risk, as experts expect a ‘multi-pronged attack’ to push environmental concerns higher up trustee agendas.
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FeaturesGeneral Medical Council swallows DB closure pill
The General Medical Council is set to close its defined benefit scheme to future accrual from April 1 2018, and is in talks with the trustees regarding additional funding.
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OpinionInvestment transitions: How to ensure a smooth changeover
While an investment transition can seem like a simple exercise of moving an investment from A to B, there are complications that mean careful planning and experience is necessary to ensure the whole process is as efficient as it can be.
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FeaturesUnilever forks out £600m to tackle £1.2bn DB deficit
Unilever has contributed £600m to its scheme, after an actuarial valuation revealed a £1.2bn deficit. Meanwhile, the trustees have taken steps to ensure they can act quickly should there be a significant corporate event.
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Opinion
IORP II marks an underwhelming farewell from the EU
The EU’s new directive on pension funds will see schemes producing benefit statements on a yearly basis, while risk-management standards will be dragged up and borders broken down, but the overall impact will be limited.
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FeaturesOxford University Press scheme invests in stressed debt
Trustees of the Oxford University Press Group Pension Scheme have made a new allocation to stressed debt, an asset class that is best suited to "fleet of foot" pension funds, experts say.
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OpinionHow the PPF manages risk
The unique nature of the Pension Protection Fund in the UK necessitates a distinctive approach to how we manage risk.
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News
Lower rise in life expectancy no cure for schemes
After years of steady increases, improvement in life expectancy dropped to 1 per cent a year in 2016 from 3.1 per cent per year in 2011 in England and Wales, but low discount rates mean the rises still matter.
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OpinionThe challenges of passive ESG investment
The universe of passive and smart beta products with an environmental, social and governance-based dimension has expanded significantly over the past five years.
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Opinion
How can DC schemes deliver value for money?
There are few more prolific terms overheard in the pensions industry than value for money, and far fewer that evade objective definition quite so comfortably.
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FeaturesScapa sticks to risk management strategy with Pie
Adhesive tape manufacturer Scapa has carried out a pension increase exchange exercise, in its latest move to manage the cost and risk of its legacy defined benefit scheme.