IPE's United Kingdom Coverage – Page 104
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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
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Country ReportRisk Management: LDI strategy at a time of pandemic
Wild swings in UK bond yields caused by COVID have triggered a surge in hedging activity
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Country ReportDB funding – a mixed recovery story
Last year brought both operational and financial challenges for defined benefit schemes but some have come out looking better for it
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Country ReportPension dashboards – a need for clarity
Dashboards hold out the promise of allowing individuals to see all their retirement savings on one digital platform
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News
Redington aligns default client advice with net zero policy
‘The global transition to net zero is a monumental task,’ says CEO Mitesh Sheth
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NewsFormer pensions minister warns retired workers’ income set to fall dramatically
‘We have been living in a fool’s paradise when it comes to incomes at retirement,’ says Webb
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DB attribution project prompts warning from IFRS IC chair
The IFRS IC voted to confirm its tentative agenda decision concerning the attribution of periods of service under IAS 19
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Trustee association shows concern about time and resources spent
Requwsts for information are often excessive and seem to disregard the regulatory framework within which pension schemes operate
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Goldman Sachs boosts Nordic team as Brexit spurs regional strategy
Banking heavyweight adds 25% to Nordic asset management team
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UK actuaries call for urgent action on risk transfer solutions
Risk is increasingly being transferred from institutions to individuals
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UK pension funds develop support for RI reporting challenge
Schemes supporting each other to manage ‘complex and demanding’ stewardship and responsible investment reporting obligations
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Environment Agency Pension Fund adopts 2045 net-zero climate policy
Local authority pension fund eyes EU Paris-aligned benchmarks, climate change convenants for fixed income
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NewsCorporate governance advisor PIRC pushes for shareholder hard line on audit
PIRC is recommending that shareholders oppose the appointment of EY, PWC, KPMG and Grant Thornton during this year’s round of shareholder meetings
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Border to Coast supports work to boost private markets ESG standards
Pensions pool CIO says ‘clear need to enhance’ ESG work in private markets
