IPE's United Kingdom Coverage – Page 68
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NewsShropshire pension fund set on climate engagement – in line with fiduciary duties
Responding to new Carbon Tracker report, UK local government pension fund says figures used are three years old
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NewsRegulatory burden and outsourcing weighs on LGPS staff
LGPS staff would like to see simpler and clearer regulation of the scheme
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NewsUSS sees assets under management drop by 16%
USS asset under management fell from £90.8bn to £75.5bn last year
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NewsReport slams pension funds and advisers for false climate assumptions
Carbon Tracker report cites advice from Mercer and information given to members from LGPS Central; Mercer says report ‘presents an incomplete, and therefore misleading, summary of Mercer’s climate change analysis’
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NewsUK roundup: Mitchells & Butlers scheme in £1.2bn buy-in with Standard Life
Plus: LGIM launches fossil fuel exclusion strategy; Qantas Airways pension fund completes £40m buy-in with PIC
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NewsActuaries urge financial sector to be ready for changes to biodiversity reporting
The Taskforce for Nature-related Financial Disclosure is expected to publish its risk management and disclosure framework in November
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NewsUK Court of Appeal dismisses case brought against USS directors
Claims against USS directors were ‘bound to fail’, according to Judge Sarah Asplin
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NewsUK master trusts expected to be slashed to 10 amid market consolidation
Recent master trust acquisitions include National Pension Trust by SEI, and of Evolve Pensions by Smart Pension
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NewsBusiest H1 on record as bulk annuity transactions estimated to reach £25bn
Over £17bn of transactions have already been announced
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NewsUSS consults on lowering contribution rate to 16.2%
Indicative results reflect a significant change in the economy since the 2020 valuation was finalised in the latter half of 2021
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NewsBorder to Coast on target to deliver £340m savings for partner funds
The pool claims so far to have saved its members an estimated £65m, but CEO Rachel Elwell says pooling is ‘more than delivering cost savings’
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NewsDCIF calls for consistent template for TCFD reporting for master trusts
Greater standardisation of reports should become common practice, the forum recommended
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NewsUnited Utilities pension funds secure £1.8bn buy-in deal with Legal & General
L&G provided a bespoke price lock to the assets held by the schemes
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NewsSchemes should stay on top of changing mortality rates
Current mortality rates ‘highlight the problems of matching investment strategies to liability cash flows’, says Mercer
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NewsSEI acquires National Pensions Trust for £42.5m
The total combined assets of NPT and SEI Master Trust will be approximately £3.4bn
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NewsProposals to boost investment in UK growth should not be rushed
It is important that the government seeks a range of views through an extended consultation process, says XPS
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NewsRolls-Royce pension fund picks BlackRock for custom-built default fund
Plus: LPP invests in Federated Hermes’ private equity fund; GAD completes methodology assessment into British Steel scheme; Osmosis partners with SuMi TRUST
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NewsLGPS funds should retain autonomy over asset allocation, says pensions industry
External directives ‘may backfire’ and lead to ‘poorer outcomes’ for scheme members and sponsoring employees, says Hymans Robertson
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NewsNBIM asks for change to European green reporting standards on materiality
As European Commission’s consultation on draft European Sustainability Reporting Standards closes, Norway’s SWF manager says companies should be made to say why topics are not material
