IPE's United Kingdom Coverage – Page 91
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NewsLondon CIV reports climate risk analysis, to set net-zero targets
Asset pool for London pension funds to set targets for transitioning to net-zero GHG emissions no later than 2050
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NewsUK roundup: DB schemes stronger than pre-COVID levels
Plus: DWS, Tikehau’s new secured income fund; National Trust awards climate change mitigation mandate
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CTI framework delivers tangible benefits
Two thirds (64%) of those using the framework had reviewed costs and value for money as a result of the information received
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NewsPensions sidecar an ‘emerging focus’ at one in five employers – survey
WTW sees survey showing employer commitment to pensions amid appetite to do more for financial wellbeing
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Nortel’s UK scheme agrees second buyout with Legal & General
A further transaction is likely to follow in the future
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NewsAccounting standards come under fire from UK lawmakers
Since the UK’s departure from EU structures on 31 December 2020, new IFRSs have been adopted through means of a temporary endorsement mechanism
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FCA proposes new fund type for illiquids, highlights ‘ecosystem’ work
DC pension schemes a key target audience of the long-term asset fund (LTAF)
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NewsBorder to Coast selects managers for £575m private credit roll-out
Local authority pension pool chooses global mezzanine, European and North American direct lending, and stressed and distressed debt strategies
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AP7, KLP join retailers in urging Brazil to throw out Amazon bill
Proposed law would “encourage further land grabbing and widespread deforestation”, says Norwegian pension fund
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Lay trustee role increasingly difficult to sustain, industry says
The role has changed significantly in recent years due to increased governance requirements
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NewsSchemes risk cutting corners to meet CMA deadline, says Hymans
A rushed process would risk ‘missing out on the best fees’
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UK’s £68bn universities scheme declares net-zero ambition
Pension fund still to develop comprehensive strategy but wanted to state ambition ‘to send signal’
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NewsMPs launch inquiry ‘on pension stewardship and COP26’
Work and pensions committee opens call for evidence of questions spanning targets, products, international standards, and more
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NewsBrunel, LCIV pool more UK pensions capital for private markets
Brunel announces new direct lending fund, London CIV adds renewable infra and private debt
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NewsUnnamed UK pension scheme signs £6bn longevity swap
Longevity risk was reinsured to PFI subsidiary, with Zurich acting as intermediary on a ‘pass-through’ basis
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Country ReportCountry Report – Pensions in UK (May 2021)
The UK’s Pension Schemes Act was finally signed in February 2021, after nearly two years of negotiations in parliament that were severely disrupted by elections, Brexit-related negotiations and the COVID-19 pandemic. The new rules have given the Pensions Regulator (TPR) new powers that could see it intervene in corporate actions such as mergers and acquisitions, as we analyse in this report. The report also looks at other key topics impacting the UK pensions sector, including DB funding, climate change, risk management and pension dashboards.
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Country ReportM&A: Regulator set to scrutinise more deals
New tools granted to the Pensions Regulator could see it play a more prominent role in corporate activity such as mergers and acquisitions (M&A)
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Country ReportFunding code: Deciphering the new code
With the Pensions Regulator consulting on a new code of practice for defined benefit (DB) scheme funding, trustees are advised to take a long-term view of investment, covenant and liabilities
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Country ReportClimate risk: Climate of change
Pension schemes will have to adjust their systems to cope with new regulations to tackle climate change
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Country ReportCommentary: A complex journey to net zero
Tackling climate change successfully is not just a matter of following rules. It is a continuum that trustees must embrace
