IPE's United Kingdom Coverage – Page 254
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News
Pensions funds square up for legal battle with Henderson
UK – Henderson Global Investors and a group of 30 pension funds are squaring up for a courtroom battle as a “final letter before action” has been sent to Henderson by the pension funds’ lawyers.
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NewsUK roundup: Towers Watson, NEST, Balfour Beatty, Daily Mail and General Trust
UK – Towers Watson has warned that large UK companies are likely to shun the National Employment Savings Trust (NEST) in favour of their own pension funds, as they will offer better value over the new defined contribution scheme.
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NewsUK mortality revision to increase liabilities by £5bn, warns Aon Hewitt
UK – Revised mortality tables will see pension fund liabilities rise by £5bn across the industry, Aon Hewitt has warned.
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NewsUK NEST rules out infrastructure, hedge funds for immediate future
UK – The UK National Employment Savings Trust (NEST) has ruled out any direct investments in infrastructure, commodities and high yield in its first few years of existence.
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NewsUK schemes prefer overseas to domestic equity, PPF data shows
UK – UK pension funds are continuing to shift their equity investments away from domestic holdings to international shares, the latest Purple Book published by the Pension Protection Fund (PPF) has revealed.
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NewsBT Pension Scheme sees deficit more than halved by CPI switch
UK – The BT Pension Scheme (BTPS) has announced a 55% reduction in its deficit as a result of the switch to the consumer price index (CPI).
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NewsUK roundup: PwC on AIFM, Aviva closes final salary scheme
UK – The UK asset management industry is unprepared for the implementation of the Alternative Investment Fund Managers (AIFM) directive, with only 2% saying they know how to implement the changes, according to a study conducted by PwC.
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NewsUK roundup: PPF, NAPF, Pension Capital Strategies, Lothian Pension Fund
UK – The Pension Protection Fund (PPF) has announced positive returns for 2009-10, leading to a £400m (€460m) surplus for the organisation.
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NewsUK roundup: Northern Ireland, Edinburgh Partners, Sackers, Towers Watson, TPR
UK – The Northern Ireland Local Government Officers' Superannuation Committee (NILGOSC), which administers the country’s local government pension scheme, has awarded a global equity mandate to Edinburgh Partners.
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NewsUniq proposes deficit-for-equity swap with trustees
UK – Food manufacturer Uniq has proposed a deficit-for-equity swap to its pension fund trustees in a deal that would see the fund take control of 90% of company shares.
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NewsUK Pension Protection Fund takes on another 17 schemes
UK – The UK Pension Protection Fund (PPF) has accepted 17 new schemes for compensation in September, including 1,768 individuals who are already are receiving pensions from the safety net.
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NewsUK roundup: Pension Insurance Corporation, BDO Investment Management, EMI, Equitable Life
UK – The risk transfer market was buffeted by underlying asset volatility in the third quarter, according to Pension Insurance Corporation's Q3 2010 Pension Risk Transfer index.
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![Borough of Lambeth terminates contracts with managers [amended]](https://d3ese01zxankcs.cloudfront.net/Pictures/100x67/4/6/8/39468_London+map.jpg)
NewsBorough of Lambeth terminates contracts with managers [amended]
UK – The £720m (€820.5m) London Borough of Lambeth pension scheme is understood to be ending contracts with UBS Global Asset Management, AllianceBernstein and Aberdeen Asset Managers.
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NewsUK roundup: pension tax relief, Bexley, BlackRock, Accounting Standards Board
UK – The government has revealed details of the reform to pension tax relief, lowering the threshold to £50,000 – a drop of more than £200,000 – by April 2011.
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NewsRoyal Mail pension scheme to shrink to one-tenth of size under government proposals
UK – The UK government has confirmed it would split the Royal Mail Pension Plan (RMPP), reducing it to around one-tenth of its current size, in an effort to tackle the scheme's £8.4bn deficit.
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NewsUK roundup: Camden, CB Richard Ellis, Partners Group, Towers Watson, PPF
UK – The London Borough of Camden's pension fund has appointed two real estate managers for a mandate worth as much as £70m.
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NewsUK roundup: Towers Watson on Hutton, Asda closes scheme
UK – Towers Watson has estimated a £80bn (€91bn) drop in public pension liabilities if suggestions made by Lord Hutton are implemented.
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FeaturesUK: All change
Following the market recovery, the UK has a new government eager to implement change and a pensions regulator keen to protect scheme members, finds Jonathan Williams
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NewsUK roundup: Pensions Regulator, Lehman Brothers, CBI, Mercer, KPMG
UK – The Pensions Regulator has issued a financial support direction against six insolvent Lehman Brothers subsidiaries, ordering them to supply funds to the companies' UK pension scheme.
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NewsUK roundup: IMA, Legal & General, UNPRI, FTSE 350
UK – The Investment Management Association (IMA) has warned that new proposals to regulate the over-the-counter derivatives market could end up transferring all the risk to the end investor.
