Tobacco giant seals £3.4bn pension de-risking deal with PIC
Transaction accounts for the bulk of British American Tobacco’s UK DB pension fund, and is Pension Insurance Corporation’s biggest deal to date
Ex-regulator boss brings FX rigging lawsuit against five banks
Former chair of the Pensions Regulator Michael O’Higgins is leading efforts to secure compensation from five banks fined more than €1bn in May over two FX cartels
Pension SuperFund signs up second client in £300m deal
DB consolidation vehicle’s first deal was submitted to the regulator for clearance in May
Auto-enrolment providers slam NOW: Pensions over cost analysis
The master trust claimed it was the cheapest provider on the market – but its rivals have hit back over ‘artful propaganda’ and ‘absurd’ outcomes
Schroders flags tipping point for action on climate change
Cost-benefit equation seen as increasingly in favour of policy action to support move away from fossil fuels
Funds invested in illiquid assets are ‘built on a lie’: Mark Carney [updated]
Bank of England governor warns of ‘potential developing systemic issue’ regarding funds promising daily liquidity while investing in illiquid markets
Expert group releases climate taxonomy proposal
EC publishes guidelines for corporate reporting of climate-related information alongside three expert group reports on big day for the Commission’s sustainable finance plan
ATP investment chief exits for PFA; Foged named permanent CEO
Bo Foged gets top job at Denmark’s biggest pension provider, while Kasper Ahrndt Lorenzen is set to move to PFA Pension as chief investment officer in September
Unions voice support for Dutch pensions agreement
The pensions sector can start implementing areas of the agreement after two of the Netherlands’ largest unions gave it their support
Dutch government, unions reopen pension reform talks
Social affairs minister Wouter Koolmees offers to reopen negotiations from next week after two days of strike action across the Netherlands