IPE's United Kingdom Coverage – Page 60
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NewsBrunel Pension Partnership calls for constructive dialogue on long-term interests
Concerns have been raised about a perceived misalignment between long-term interests and how investment managers are exercising proxy voting
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Opinion PiecesViewpoint: Australian-style reforms can unlock green growth and boost pension performance
Rewriting UK pension rules could unlock green growth, directing much-needed investment into sustainable infrastructure
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NewsIgnoring ESG factors is not an option for trustees, says The Pensions Regulator
There have been concerns on the implementation risks of greenwashing and the potential for ‘greenhushing’, among others
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NewsUK roundup: British Steel Pension Scheme in £2.7bn buy-in deal
Plus: DWP opens auto-enrolment consultation for defined benefit schemes; Direct Line Group Pension Trustee picks LifeSight as master trust provider
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NewsOverall LGPS funding level up to 107%, says report
Improved funding positions have meant that schemes have been able to reduce the level of contribution rates
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NewsUK roundup: BA Pensions appoints LCP for actuarial, consulting services
Plus: BlackRock gest FCA green light on long-term asset fund; Broadstone launches specialist admin service; FRC consults on revision to actuarial standards
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NewsPensions regulator calls on DB trustees to brush up on employers’ financial positions
A high level of debt among businesses can risk their ability to support DB pension schemes
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NewsUK travel pension fund secures £900m buy-in deal with Aviva
The buy-in and eventual buyout with Aviva will ultimately result in a better outcome for the vast majority of members
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Opinion PiecesViewpoint: Differentiation – the future of professional pension trusteeship
When purchasing professional services, choice is good. Differentiated choice is even better.
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NewsAon lauds BoE sparking ‘robust debate’ on wisdom of UK buyout surge
Consultancy responds to warning from UK central bank about risks of insurers rushing to offer bulk annuities to now-healthier DB schemes
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NewsUK bank pension scheme in £1.6bn longevity swap deal
Plus: Repsol Sinopec completes £160m full scheme buy-in with Rothesay
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Country ReportCountry Report – Pensions in UK (May 2023)
UK pensions are at a crucial juncture. The UK Parliament’s inquiry into the LDI crisis of September 2022 shed some light on its causes, but the debate on the role of LDI is alive and well. Meanwhile, regulators including The Pensions Regulator and the Financial Conduct Authority have advised pension schemes on how to make LDI strategies more resilient to shocks.
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Country ReportUK: A review of the LDI debacle
The UK Parliamentary inquiry into the LDI crisis has shed light on its causes, but the debate over the lessons learned for the UK DB industry is far from over
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Country ReportUK: to barbell or not to barbell?
In the new world of lower LDI leverage, trustees must choose between maintaining hedging or diversification
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Country ReportUK: Can the country turn a flawed investment ecosytem around?
Decades of complex legislation has fuelled many unanticipated consequences, which has seen pension funds invest less in riskier listed equities and illiquid assets
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Country ReportUK: Beware the unintended consequences of the DB funding code
Laura McLaren highlights the unintended consequences of TPR’s proposed code, and what can be done to mitigate the risks
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Country ReportUK: Is it too soon to reform pension pools?
In his March 2023 Budget, UK chancellor Jeremy Hunt challenged the Local Government Pension Schemes (LGPS) in England and Wales to “move further and faster on consolidating assets”, proposing that LGPS funds transfer all listed assets into their pools by March 2025.
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Country ReportUK: The case for pooling
Successful pooled schemes such as Border to Coast should be open to other clients because they are good at what they do
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Country ReportUK: DC investment won't be a panacea for tech and science
The UK government’s March Budget contained plans to boost investment in high-growth industries such as digital, life sciences and advanced manufacturing, so they can start, scale up and remain in the UK.
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Opinion PiecesBlame will not solve the issues raised by the LDI crisis
The chain of events that led to the UK’s liability-driven investment (LDI) crisis, a high-profile inquiry by the UK Parliament, and a time of anxiety and introspection in the country’s pension industry, started well before then prime minister Liz Truss’s government and its somewhat reckless ‘growth plan’.
