All Defined benefit articles – Page 15
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News
High inflation impacts timing of retirement decisions
As a result of falling long-term inflation expectations, UK DB long-term liabilities over the last three months have reduced by around £140bn
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News
UK roundup: EDS scheme completes £1.1bn buy-in with PIC
Plus: PPF achieves strategic priorities
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News
British Steel picks LGIM for DB scheme, in-house team to transfer
LGIM and Legal & General Retail Investments already manage and insure just under 40% of the scheme’s assets
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News
UK roundup: Private sector companies still provide DB pensions
Plus: Investor group calls on UK CEOs for action on mental health; Workplace pension members plan contribution reduction to cope with living cost
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News
UK pension funds hit record £250bn surplus, research from PwC reveals
The increase was mainly driven by the continuing rise in long-term bond yields
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News
UBS UK scheme extends longevity hedge by £500m
The longevity swap was adapted to cover the scheme’s DB deferred members over age 60 – a market first
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News
UK roundup: Clear member options could reduce buyout DB costs by £100bn
Plus: Redington launches independent testing service for trustees
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Features
UK DB schemes in a risk transfer sweet spot
Pension funds are in a good position for buyouts, but is there enough capacity in the market and will DB superfunds provide a genuine alternative?
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News
FTSE 350 pension surplus almost doubles after 2021 deficit exit
DB sponsors report surpluses as schemes emerge from the red in 2021
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News
UK roundup: Queen’s Speech fails to mention new Pensions Bill, autoenrolment plans
Plus: DB schemes see improved health; Buck launches DB governance tool
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Opinion Pieces
Viewpoint: Modelling a longevity shock – A £1bn scheme would need to find £120m
By Howard Kearns, longevity pricing director at Insight Investment
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Country Report
UK: The long and winding road to consolidation
Brexit, COVID and other factors delay regulation that would enable commercial DB scheme consolidators to operate
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News
TPR calls on trustees to reduce covenant reliance
UK pensions regulator points to the importance of assessing how current market events are shaping the employer covenant
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News
UK roundup: Fidelity, Tumelo launch stewardship hub
Plus: Act quickly to lock in funding gains, says Hymans Robertson; LGIM reports on latest DC savers’ preferences
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Features
Defining the precise scale advantages for DB pension funds
Most people working in the institutional asset management space have an intuitive understanding that the size of the institution, measured by total assets under management (AUM), has an impact on performance – that bigger funds tend to perform slightly better. On the other hand, there are plenty of stories of successful hedge funds that got too large and lost their way, unable to continue delivering on past success due to their size. So which is it? Do larger institutional investors outperform their smaller kin, or is AUM the proverbial millstone in terms of performance?
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News
abrdn launching DB mastertrust through tie-up with XPS
DB pension scheme for unconnected employers scheduled to launch in Q2
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News
UK roundup: London councils switch pension investments to renewable energy
Plus: DB schemes maintain surplus amid market volatility
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News
IASB calls a halt to IFRIC 14 DB refund project
A total of 11 IASB members out of 12 backed the decision to cease work on the project
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Features
Strategically speaking – WTW: Democratising private markets
WTW’s ill-fated merger with Aon, announced at the outset of the pandemic in early March 2020, would have shaken up the corporate insurance brokerage market. It would also have created an outsourced CIO (OCIO) giant to compete with Mercer in terms of delegated assets under management (AUM).
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Book Review
Books – Demographics Unravelled: A broad and granular understanding of demographics
Amlan Roy’s contention in his new book Demographics Unravelled is that a wider and more holistic approach to demographics is necessary. An academic by background and a long-standing former head of global demographics and pensions research at Credit Suisse, Roy’s choice of focus in his book underlines his views.