IPE's United Kingdom Coverage – Page 124
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News
One fifth of UK schemes in ‘weak’ position by TPR standards
Hymans Robertson analysis finds just 11% of schemes have a “strong” sponsor covenant, while one in five trustees has or expects to experience regulatory intervention
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London pension schemes abandon Allianz equity fund [updated]
Three LGPS funds within the London CIV asset pool have pulled their money out of an Allianz global equity vehicle
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NewsAsset manager body hails engagement effect on CEO pay
Analysis on FTSE 100 pay from the High Pay Centre and CIPD shows median CEO remuneration fell 13% to £3.5m from 2017 to 2018
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‘Huge’ variations in outcomes between default DC funds: report
Employers have been urged to monitor the performance of their pension plans more closely given big differences between fund outcomes
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NewsUK think tank calls for state pension age increase to 75
The Centre for Social Justice has proposed a range of policy reforms to promote flexible working and retirement for older workers
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High Court blocks £12bn Prudential-Rothesay annuities transfer
Unusual judgement could increase insurer appetite for pension buy-ins or buyouts, says expert
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Chart of the Week: Equity returns drive LGPS investment gains in 2018-19
Local authority funds for Lancashire and Kensington & Chelsea reported the strongest returns among LGPS funds, as alternatives investors also posted double-digit gains
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Pension liabilities set to rise as mortality falls in first half
Analysis from longevity experts at Club Vita indicates that longevity improvements could be on the rise again – which means DB scheme costs could increase
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ESG roundup: UK ‘economics of biodiversity’ review kicks into gear
Plus: The US Securities and Exchange Commission is to consider whether or not to publish guidance about the use of proxy advice in the shareholder voting process
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Asset managers warned over poor data governance in ESG rush
Report seeks to prompt asset managers to think about ESG data in the same way they would about other important inputs into the investment process
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L&G backs ‘innovative’ buy-in for Hitachi UK pension scheme
The data and technology company’s scheme has insured members’ benefits, preserving an unusual DB-DC hybrid arrangement
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ABN Amro scheme expects ‘limited effects’ from Brexit
The €29bn pension fund sees market volatility, declining sterling and the ability to settle transactions as big risks, and has analysed suppliers’ ability to continue through multiple Brexit scenarios
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News
UK health insurer transfers £20m DB scheme to master trust
TPT Retirement Solutions has consolidated a ‘wide variety’ of schemes in the past year
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NewsUK roundup: L&G buys pension pot consolidator in ‘dashboard’ move
Plus: LGPS Central to use KAS Bank for cost transparency work
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News
Church Commissioners seeks new CEO as Brown signals retirement
Andrew Brown has served as secretary to the Church Commissioners since 2003, overseeing £8.2bn in pension and endowment funds
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News
Cadbury Mondelēz takes a bite out of liabilities with £520m buy-in
Deal with Rothesay Life is pension scheme’s second buy-in in 10 years as insurers process busy pipeline of de-risking transactions
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Chart of the Week: Analysing sterling’s volatility
Weak second-quarter growth figures added to the pressure on the UK currency after weeks of speculation about the nature of the country’s exit from the EU
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NewsDe-risking deals totalled £17.6bn in H1: LCP
Legal & General and Pension Insurance Corporation dominated the market for buy-ins and buyouts in the first six months of 2019, and the total for the full year is set to be a record
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NewsUK MPs criticise government over handling of FRC chair appointment
Simon Dingemans is set to chair the Financial Reporting Council and its successor body – but politicians have expressed ‘frustration and dissatisfaction’ at the process
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NewsAon’s European retirement chief exits
Andy Cox is standing down as head of Aon’s retirement practice in the EMEA region after more than seven years at the helm
