All Spence & Partners articles – Page 7
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News
Aberdeen transport fund swaps derisking provider in self-sufficiency push
The Aberdeen Council Transport Fund is rushing to replace a derisking solution as it seeks to update its investment strategy and target self-sufficiency.
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NewsShipbuilding scheme docks £220m into LDI
The Shipbuilding Industries Pension Scheme has committed £220m to a liability-driven investment mandate run by Legal & General Investment Management, as it seeks to derisk and hedge against interest rate rises.
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News
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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OpinionArtificial sweetener
Editorial: The Lifetime Isa announced in the Budget, while presented in a sweet wrapper marked 'help the young', is not easily swallowed by some, and not everyone agrees what the actual taste will be.
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Features
How pension schemes reacted to volatility amid a turbulent 2015
Analysis: Volatile markets and economic uncertainty drove pension schemes into multi-asset strategies and alternative assets in 2015, data show, as they looked to mitigate losses from equity markets.
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News
Transfers to be streamlined as more ask for quotes
The Pensions Regulator will introduce new guidance to ensure transfers between defined contribution schemes are completed promptly, the government said last week. This comes as defined benefit transfer values recovered in January after hitting a low in December.
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OpinionKeep calm and understand your risks
From the blog: Equity markets are volatile. This is not news, but reading some of the recent pensions press you could be forgiven for thinking that it was.
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NewsRM deficit reduction highlights need to be proactive
Online teaching tools supplier RM has shortened its recovery plan and reduced its deficit by more than £10m using a combination of contributions, updated member information and a buy-in.
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NewsRenishaw recognises true liability as IFRIC 14 bites
Gloucestershire-based engineering company Renishaw’s defined benefit liabilities jumped £15.6m above the IAS 19 accounting deficit at the end of last year, as experts highlighted the impact the accounting measure IFRIC 14 has on scheme valuations.
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OpinionCharities feel the weight of auto-enrolment and wage hikes
Chancellor George Osborne’s recent announcement that the government wants to bring the living wage to £9 by 2020 will have had many charity finance directors scratching their heads, wondering where the extra income is going to come from.
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NewsPremier Foods eats away at deficit by more than £570m
Food manufacturing company Premier Foods decimated its IAS 19 deficit to £32.8m from £603.3m since December 2013 thanks to its hedging strategy and a change in discount rates.
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NewsDebenhams splashes out more on recovery despite surplus
Debenhams pension scheme trustees have secured higher employer contributions as part of the recovery plan despite having reached an IAS 19 surplus earlier this year, demonstrating the discrepancies between two scheme funding calculation methodologies.
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News
VAT burden shows little sign of abating as key deadline approaches
News Analysis: Employers need a better way of reclaiming VAT on behalf of their schemes than that set out by HM Revenue & Customs, lawyers say, as a December deadline for schemes to renegotiate service contracts looms.
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News
Longevity v interest rates – which poses the biggest risk for schemes?
Rising life expectancy poses a greater risk to UK corporate pension schemes than low interest rates, a report this week has suggested, but some industry experts have challenged the finding.
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News
Norcros plugs deficit with suite of liability exercises
Kitchen and bathroom accessories group Norcros has plugged its scheme deficit by £1.7m through a series of liability management exercises, as pension funds see a further deterioration in funding levels.
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News
Employers probe external vehicles to facilitate drawdown
Employers have been looking at a range of non trust-based drawdown solutions, say consultants, as trustee interest in providing flexi-access to members remains low.
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NewsSainsbury's closes deficit after strong asset returns
Sainsbury’s Pension Scheme has reduced its deficit by £28m, despite low interest rates and a fall in the real discount rate, as many schemes struggle to control their funding levels.
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News
Battle of growth v consolidation in DC market
Pension providers should cut costs by close to a third to capitalise on opportunities in the UK’s defined contribution market, a white paper has said, but consultants questioned the potential for new market entrants.
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Features
Are you an informed investor?
Any other business: Following a romp to all-time highs the FTSE 100 stuttered last week, with slips by multinationals and financials. More than ever, trustees must be engaged investors to ensure scheme decisions deliver good outcomes.