IPE's United Kingdom Coverage – Page 135
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News
High Court blocks £12bn Prudential-Rothesay annuities transfer
Unusual judgement could increase insurer appetite for pension buy-ins or buyouts, says expert
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Chart of the Week: Equity returns drive LGPS investment gains in 2018-19
Local authority funds for Lancashire and Kensington & Chelsea reported the strongest returns among LGPS funds, as alternatives investors also posted double-digit gains
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Pension liabilities set to rise as mortality falls in first half
Analysis from longevity experts at Club Vita indicates that longevity improvements could be on the rise again – which means DB scheme costs could increase
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ESG roundup: UK ‘economics of biodiversity’ review kicks into gear
Plus: The US Securities and Exchange Commission is to consider whether or not to publish guidance about the use of proxy advice in the shareholder voting process
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Asset managers warned over poor data governance in ESG rush
Report seeks to prompt asset managers to think about ESG data in the same way they would about other important inputs into the investment process
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L&G backs ‘innovative’ buy-in for Hitachi UK pension scheme
The data and technology company’s scheme has insured members’ benefits, preserving an unusual DB-DC hybrid arrangement
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ABN Amro scheme expects ‘limited effects’ from Brexit
The €29bn pension fund sees market volatility, declining sterling and the ability to settle transactions as big risks, and has analysed suppliers’ ability to continue through multiple Brexit scenarios
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UK health insurer transfers £20m DB scheme to master trust
TPT Retirement Solutions has consolidated a ‘wide variety’ of schemes in the past year
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NewsUK roundup: L&G buys pension pot consolidator in ‘dashboard’ move
Plus: LGPS Central to use KAS Bank for cost transparency work
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Church Commissioners seeks new CEO as Brown signals retirement
Andrew Brown has served as secretary to the Church Commissioners since 2003, overseeing £8.2bn in pension and endowment funds
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News
Cadbury Mondelēz takes a bite out of liabilities with £520m buy-in
Deal with Rothesay Life is pension scheme’s second buy-in in 10 years as insurers process busy pipeline of de-risking transactions
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Chart of the Week: Analysing sterling’s volatility
Weak second-quarter growth figures added to the pressure on the UK currency after weeks of speculation about the nature of the country’s exit from the EU
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NewsDe-risking deals totalled £17.6bn in H1: LCP
Legal & General and Pension Insurance Corporation dominated the market for buy-ins and buyouts in the first six months of 2019, and the total for the full year is set to be a record
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NewsUK MPs criticise government over handling of FRC chair appointment
Simon Dingemans is set to chair the Financial Reporting Council and its successor body – but politicians have expressed ‘frustration and dissatisfaction’ at the process
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NewsAon’s European retirement chief exits
Andy Cox is standing down as head of Aon’s retirement practice in the EMEA region after more than seven years at the helm
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UK roundup: The best and worst industries for employer contributions
Also: The Pensions Regulator authorises DC master trusts run by Aon and Railpen
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NewsHSBC pension scheme strikes £7bn longevity risk transfer
Deal with Prudential Financial is the second-largest longevity swap completed by a UK pension plan after the BT Pension Scheme’s £16bn deal in 2014
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LGPS advisory board pursues ESG-related guidance updates
Scheme advisory board wants to make sure legal framework for LGPS does not lag that for other pension schemes
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Politicians urge government to legislate for cost disclosure
Industry cost reporting templates will not be sufficient to provide full transparency for pension funds and savers, argues Work and Pensions Select Committee
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UK universities back fresh funding proposal for USS
Employers backing the UK’s largest pension scheme agree to measures supporting lower contribution rates, including a moratorium on exits
