All articles by Sarah Cowburn
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FeaturesThe push-me-pull-you: In which direction is UK retirement saving headed?
Analysis: The introduction of a workplace Isa, mooted in a new proposal this week, could present both the UK workforce and employers with a radical new alternative, but how can developments in government policy drive the sea change needed in the UK’s savings culture?
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NewsWelsh LGPS funds lead the pack on pooling with passive manager appointment
Welsh Local Government Pension Scheme funds have announced the appointment of BlackRock to a £2.8bn passive mandate, following a joint procurement exercise.
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How alignment of interests can improve member outcomes
Real change in the investment industry is needed to drive alignment of interests along the value chain, delegates at the CFA Professionalism Conference heard, as panellists criticised the current state of communication between fund managers and asset owners.
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Features
Scapa reduces liabilities by £4m via mortality study
Adhesive tape manufacturer Scapa has reduced its defined benefit liability by £4m, having undertaken a mortality study across its pensioner population as part of a holistic approach to managing risk across the scheme’s assets and long-term obligations.
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Aldermore ups matching in employee retention drive
Retail banking group Aldermore has increased its matching contribution offering as part of a wider overhaul of employee benefits aimed at improving employee retention.
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NewsEiopa opts for standardised risk framework
The European Insurance and Occupational Pensions Authority has advocated the creation of a standardised framework for risk assessment and transparency in EU pension funds, quashing long-running fears of a shift to more stringent solvency funding requirements.
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Union seeks parliamentary debate on LGPS pooling
A parliamentary petition launched by public service trade union Unison, seeking debate on the pooling of Local Government Pension Scheme assets, has attracted nearly 30,000 signatures and could spell delays to progress in the pooling project.
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NewsCarr’s Group ploughs into surplus
Carr’s Group has reeled in its scheme deficit after years of steep cash contributions and restructured the scheme’s matching portfolio to shore up funding on the road to buyout.
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Features
Hubbub probes ESG ahead of provider appointment
A small charity is prioritising environmental, social and governance factors in the selection of its workplace pension provider, making use of recent analysis which ranks the UK’s nine largest providers according to their responsible investment practices.
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FeaturesITV absorbs Wireless Group DB scheme
Broadcasting company Wireless Group has signed over its defined benefit pension obligations to broadcaster ITV, under the terms of sale of its television entities to the media giant, showing that defined benefit schemes do not have to be left behind in mergers and acquisitions.
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Features
Weir Group cuts deficit contributions with 15-year funding vehicle
Weir Group established a Scottish Limited Partnership with the trustee of its main defined benefit scheme last year, allowing the group to reduce its deficit recovery payments while adding to the security of members’ benefits.
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Features
GKN continues derisking with £53m buy-in
Global engineering group GKN signed off a second pensioner buy-in during 2015, insuring an additional £47m of pensioner liabilities, as part of a broad strategy to manage asset and liability risk as the group’s UK schemes mature.
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Johnston Press longevity study cuts deficit by £53m
Regional publishing group Johnston Press has cut its IAS 19 deficit by £63m in the past year, with close to 85 per cent arising from changes to the mortality assumptions.
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NewsNorthern Ireland Assembly latest to join public sector pensions reform push
Members of the Northern Ireland Assembly will be subject to significant changes to their pensions from the May 5 assembly election, bringing the country's politicians' retirement benefits in line with cost-saving efforts across the UK public sector.
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News4imprint hits home straight with buy-in conversions
Trustees of 4imprint’s defined benefit pension scheme have reached agreement to convert two previous buy-in arrangements to a buyout, as the US-focused company looks to tackle its UK legacy obligations.
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NewsRBS decision to pass on £18m NI costs to members 'unsurprising'
Members of the Royal Bank of Scotland’s defined benefit pension scheme are set to foot the bill for an £18m rise in the bank’s national insurance contributions following the end of contracting-out, raising the question of whether this practice could become the norm.
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Features
Long-term saving solution continues to elude pensions industry
Missed by many amid the Budget’s pomp and circumstance, the summary of responses to the government consultation – ‘Strengthening the incentive to save’ – contains a resounding call for stability but no clear solution to the nation’s savings crisis.
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OpinionWhat a move to CPIH could mean for UK pension schemes
Analysis: A letter from the Office for National Statistics recently cast ripples of doubt over the future shape of UK consumer inflation statistics; a move to consumer price inflation including housing, or even a household inflation index could have far-reaching effects on UK pension fund benefits and liabilities.
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News
FAMR recommendations seek to shore up guidance gap
HM Treasury and the Financial Conduct Authority have released a raft of recommendations in the bodies’ review of the financial advice market, but industry commentators have said “tighter and more ambitious timescales” are required to make the pensions dashboard a reality.
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NewsSchemes think long term to tackle future risk
PLSA Investment Conference 2016: Panellists from both public and private sector defined benefit arrangements and defined contribution mastertrust Nest assessed the complex matrix of risks facing schemes across the UK.