All Towers Watson articles – Page 2
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News
DB trustees spend 3,000 days a year processing inefficiencies
On the go: Defined benefit pension scheme trustees cumulatively spend 3,000 days each year monitoring processes that could be avoided by adopting a technology-led approach, new analysis shows.
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News
2020 set to be a record-breaking year for longevity swaps
On the go: Demand for longevity swaps is expected to set new records in 2020, reflecting in part a slight slowdown in the bulk annuity market, according to a report by Willis Towers Watson.
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News
Fiduciary managers outperform during coronavirus crisis
Analysis: A year after emerging from the scrutiny of the Competition and Markets Authority, fiduciary managers are now embracing transparency to advertise outperformance of traditional advised defined benefit schemes.
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News
Small scheme bulk annuity deals set for surge in demand
On the go: The number of small scheme buy-ins and buyouts could increase by 25 per cent in 2020, according to research from LCP.
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News
Poor Q1 returns catch up on risky fiduciary managers
Fiduciary managers with heavily equity-based portfolios suffered the heaviest losses in the first quarter of 2020, as the wide variation in strategies continues to provoke discussion about the right level of growth portfolio diversification.
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News
Willis Towers Watson’s merger with Aon faces US lawsuit
On the go: Willis Towers Watson is facing a shareholder class action in the US due to its planned merger with Aon, which would create a worldwide insurance broker worth $80bn (£65.5bn).
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News
Analytics firm completes global bulk annuity deal with L&G
On the go: Analytics company IHS Markit has entered into two bulk annuity deals with Legal & General, the insurer’s first global transaction.
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News
Longevity swap investors warned over collateral calls
A spike in the UK mortality rate due to Covid-19 could raise concerns for defined benefit pension schemes that have implemented longevity hedging, as it could trigger collateral calls on their longevity swaps.
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News
Charge cap could be a barrier to CDC, experts fear
A collective defined contribution pension scheme for Royal Mail employees is inching closer to the starting gate, but an amendment to the pension schemes bill to impose a charge cap could derail other nascent CDCs from ever getting off the ground, according to experts.
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News
Aon’s merger with Willis Towers Watson to create $80bn giant
Aon and Willis Towers Watson have agreed on a merger, which will see the companies creating the UK’s largest pensions consulting firm and a worldwide insurance broker worth $80bn (£61bn).
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News
Blue chips rush to offload DC pension plans to master trusts
More and more blue-chip employers are looking to transfer their defined contribution pension plans to the new breed of master trusts. The Vodafone UK DC Pension Plan is the latest to move all members’ accounts, amounting to £1.4bn, into LifeSight. The transaction is expected to be finalised by the end of March 2020.
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OpinionBig shake-up to pensions taxation would change it for worse
“T’Conservatives: we’ll tax those soft southerners.”
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Features
Hundreds of thousands of micro pots suffer remorseless attrition
Data crunch: Eight years after the auto-enrolment revolution, millions of workers’ pensions are left languishing in master trusts when they move jobs.
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News
Pension schemes make limited allowances for RPI changes
On the go: Large pension schemes are not expecting a great impact from the proposed changes to the retail price index, with limited allowances included in their sponsors’ 2019 accounts, according to Willis Towers Watson.
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News
Lloyds pension schemes agree to £10bn longevity swap
On the go: The trustee of the Lloyds Bank pension schemes has agreed to a £10bn longevity swap deal with Scottish Widows and Pacific Life Re.
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News
Smaller-sized bulk annuity deals to increase in 2020
On the go: Fewer multibillion bulk annuity deals are expected in 2020, although the number of smaller transactions is set to increase, according to research from Willis Towers Watson.
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News
Derisking trend to continue apace
On the go: Pensions consultancies say bulk annuity volumes could reach this year’s £40bn mark again in 2020, but put the ‘new normal’ for the industry at closer to £30bn.
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News
Pension cuts for FTSE directors moving at snail’s pace
Data crunch: Despite 30 FTSE 100 companies having already announced changes to their pension contribution rates for executive directors, there is still a long wait to go until there is parity in contributions between bosses and their workers, experts warn
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News
HMRC request for schemes to report breaches branded ‘unsatisfactory’
HM Revenue & Customs' request for pension administrators to remind their members about potential tax breaches has been branded ‘very unsatisfactory’ by a former pensions minister, who said the tax authority was offloading its own responsibilities onto schemes.
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News
National Grid completes £1.6bn buy-in with Legal & General
On the go: The National Grid UK Pension Scheme has completed a £1.6bn buy-in with Legal & General.