Latest United Kingdom News – Page 8
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NewsTPR’s long-awaited General Code to improve governance standards
However, there are concerns the General Code will put financial strains on smaller schemes
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NewsUK pensions regulator publishes long-awaited General Code of Practice
The General Code of Practice is expected to come into force on 27 March
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NewsIndependent Governance Group acquires IC Select
IC Select leadership and brand will continue as part of IGG
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NewsUK pensions groups call for pension fund clearing exemption to be retained
The UK’s HM Treasury consultation on pension funds’ exemption from the clearing obligation closed on 5 January
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NewsACA sets up steering group to assess risk and opportunities of AI for pensions
The group will be chaired by LCP partner Alex Waite and to date is made up of members from Aon, Barnett Waddingham, Buck, Isio, Mercer and XPS
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NewsValue of USS’s stake in Thames Water drops by almost two-thirds
The ‘fair value’ of USS investment fell to £364.4m last year, down from £956m in 2022
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NewsKBR trustees appoint LGIM as fiduciary manager
Appointment covers over £1bn in assets and aims to further improve financial security for over 9,000 members
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NewsPLSA to further develop recommendations aimed at driving UK growth
The association’s top strategic policy priority for 2024 will be to establish what role pension funds can play in supporting UK growth
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NewsBorder to Coast votes against 95% chair re-elections in oil and gas companies
This is up from 31% in 2022, following an updated voting policy for the oil and gas sector
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NewsTwo new players predicted to enter UK buy-in market in 2024
LCP is currently in discussions with six potential providers weighing up their options for entering the market
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NewsIncreased funding levels raises ‘novel issues’ for funds, SAB says
Funding levels increased from 98% in 2019 to 107% in 2022
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NewsPharmacists to complain about Boots and L&G buy-in deal
Pharmacists union members plan to complain about the removal of an unreduced pension option following Boots and L&G transaction
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NewsCorporate strategy and pension schemes’ ESG agendas misaligned, survey finds
Only 37% of CFOs and senior executives reported their corporate strategy and schemes’ ESG agendas are aligned
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NewsUSS to reduce contribution level to 14.5% in January
While reporting a healthy surplus, lowering contribution rates and improving benefits is a ‘positive backdrop for USS’, says CEO Carol Young
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NewsNBIM extends long-running Niger Delta engagement with Shell, Eni
Norwegian SWF says ‘still a forward-looking risk of norm violation’ by the oil companies
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NewsUK to conduct transition finance market review
Review to be led by Vanessa Havard-Williams, former head of Linklater’s global environmental and climate change practice
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NewsPension fund money makes up smaller slice of asset managers’ AUM
European asset managers seen tending €29trn in 2023 after stronger markets this year
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NewsPPF and DWP explore legislative changes to further reduce levy
Next year’s target collection of £100m will be the lowest levy the PPF has ever charged
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NewsUK pension funds call for more control over proxy voting
Signatories to an open latter to asset managers include London CIV, Merseyside Pension Fund, Environment Agency and Smart Pension
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NewsCultural shift needed to make pension reforms work, says London minister
The Edinburgh and Mansion House reforms would address some ‘friction points’, says Bim Afolami
