Defined benefit – Page 24
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Country ReportIreland: Interview – Pensions Authority keeps an eye on LDI practices
Pensions Authority CEO Brendan Kennedy is not overly concerned about DB schemes’ LDI position, but feels the regulator needs more information. He speaks to Gail Moss about this and other issues facing the Irish industry
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Opinion PiecesFull steam ahead for UK de-risking market
This year is set to be the largest yet for the UK defined benefit (DB) pensions de-risking market, with at least £40bn (€45.8bn) in bulk annuity transactions and £20bn in longevity hedges expected to be completed, according to WTW’s latest de-risking report.
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Special ReportUK pension risk transfer market set for bumper 2023
Improved pricing and funding levels turned 2022 into a busy year for insurers, with more demand expected in 2023. But can they cope with the higher demand and will pricing remain competitive?
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NewsDWP pushes for further reach into CDC schemes with consultation
CDC framework could be adapted to allow more employers of all sizes to offer CDC schemes, says pensions minister
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NewsBritish employers could face £34bn bill following new pension rules, says LCP
Employers could find themselves receiving demands from schemes for large sums, collectively running into tens of billions of pounds
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NewsBulk annuity, longevity hedging deals set to reach £60bn, says WTW
Improved funding positions following a significant increase in Gilt yields, along with some of the cheapest pricing seen in over a decade
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NewsBritish Steel Pension Scheme completes £2bn buy-in with Legal & General
Plus: Amey pension fund in £400m buy-in deal with PIC
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NewsDutch pension law heads to Senate after parliamentary approval
The Netherlands’s Second Chamber approved the law just before Christmas with a comfortable majority
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NewsMercer research shows £35bn surplus for FTSE 350 pension schemes
The present value of liabilities fell from £627bn at 30 November 2022 to £595bn at the end of December 2022 driven by a rise in corporate bond yields
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NewsUK roundup: Church Commissioners commit £100m to impact investment
Plus: Gates schemes complete £132m buy-in deal with PIC
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NewsAdmin practicalities and costs block pensions progress, says Barnett Waddingham
Other barriers included a lack of impact on the scheme, a lack of knowledge or engagement, or concerns about giving members too much choice
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News
Greece’s funded supplementary system heads towards first €24m
New Greek pension system ‘will lead to higher pensions’
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Alecta slashes one-off premiums by 7% as higher rates cheapen DB
Swedish pensions giant lowers premiums for PRI redemptions, saying pricing must be based on current market conditions
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UK regulator’s new DB funding code sparks industry concern
TPR launched its new code today, but experts point to discrepancies with DWP regulations
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NewsUK pensions regulator releases new DB funding code
‘The new funding code may be a double-edged sword for sponsoring companies,’ says Cardano Advisory
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Barclays Bank UK scheme completes £7bn longevity risk transaction
It’s the scheme’s second multi-billion-pound longevity transaction, following the £5bn transaction in 2020
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NewsEIOPA’s first IORPs climate stress test shows material exposure to transition risks
The exercise focused on the asset portfolio of IORPs
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NewsPersistent inflation to raise cost of DB provision, says Swedish lobby
Insurance Sweden says in report that country’s insurance and pension firms still have good financial position despite 2022 stocks slump
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UK roundup: Border to Coast reappoints Robeco for voting and engagement support
Plus: FTSE 350 pension scheme funding stabilises following Gilt market turmoil; Coats UK scheme completes buy-in with Aviva
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News
Fiduciary managers face challenges as growth slows and AUM falls
Total fiduciary management AUM decreased 5% to £218bn in 2022, largely as result of a rise in yields driving declines in Gilts and LDI portfolios
