IPE's United Kingdom Coverage – Page 73
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News
BT Pension Scheme unveils 25% carbon reduction targets
Reducing exposure to carbon emissions over time will improve the scheme’s stability and predictability of its investment outcomes
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NewsUBS UK scheme extends longevity hedge by £500m
The longevity swap was adapted to cover the scheme’s DB deferred members over age 60 – a market first
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PLSA, Investment Association recommend stewardship focus in asset owner/investment manager relationship
There should be greater clarity and articulation of stewardship expectations during the manager appointment process
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LCP hires COVID-19 Actuaries Response Group founder
McDonald will help trustees and sponsors understand and navigate longevity and demographic trends
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NewsSmiths Group scheme completes £640m buy-in deal with Rothesay
The transaction secures benefits of remaining uninsured scheme members – DB liabilities for around 800 pensioners and a further 7,950 deferred members
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NewsUK’s DWP launches second consultation into pensions dashboards
DWP is ‘missing the point’, says LCP’s Steve Webb
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TPR issues stern warning on pensions dashboard deadlines
Just 37% of DC and DB schemes have discussed pensions dashboards at their scheme’s trustee board meeting
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NewsIFRS Foundation to finalise ISSB member recruitment by autumn, chair says
ISSB will begin redeliberation of the two draft standards as soon as a quorate board of eight members is in place
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UK’s DWP launches ‘nudge’ trial to encourage green pension choices
‘We can help the UK get to net zero and deliver both investment returns and a sustainable planet,’ says Opperman
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NewsWales Pension Partnership picks Russell Investments for private credit
The portfolio management team will use best-in-class closed-ended primary investment funds, secondaries and direct investments
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NewsUK roundup: Clear member options could reduce buyout DB costs by £100bn
Plus: Redington launches independent testing service for trustees
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NewsHigher UK auto-enrolment contribution levels needed, urges ABI
ABI’s report shows that auto-enrolment has dramatically increased the numbers of people saving for a workplace pension
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News
Investor groups warn UK against including gas in green taxonomy
PM told ‘important short-term considerations on energy security must not be conflated with the taxonomy’
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News
UK confirms portfolio alignment metric requirement for pension funds
DWP to proceed with adding portfolio alignment metric requirement to TCFD reporting for in-scope schemes
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News
LGPS: Government reform aims to boost global role
The LGPS is facing reforms aimed at enhancing its role as a powerful investor at home and abroad
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NewsUSS launches inaugural asset-backed securities mandate
Initial focus on investment grade and likely to exceed £1bn over the next couple of years
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News
Cardano’s Lundbergh calls for ‘light touch’ in UK’s CDC legislation
He proposes alternative model to introduce the benefits of CDC while eliminating its flaws, by using existing DC industry infrastructure
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NewsFRC wants actuaries to focus more on climate, ESG risks
‘As the importance of climate change risks continues to grow it is critical that actuaries consider these risks in the course of their work,’ says FRC
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News
UK pension fund completes £320m buy-in deal with Scottish Widows
Hymans expects around £50bn a year of buy-ins and buy-outs on average over the next 10 years
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News
TPR’s funding code: too late to the party?
The Funding Code is likely to only come into force in September 2023
