Pension reform drive gathers pace as Bill receives Royal Assent
Bill becomes law after long parliamentary battle, with key powers scaled back and implementation now crucial
ESG exclusions depress ABP returns
The Dutch civil service scheme’s newly developed markets equity index strategy returned 1.7 percentage points less than the global benchmark
UK regulator targets funded reinsurance with tougher insurer capital rules
Prudential Regulation Authority raises capital requirements for funded reinsurance, aiming to curb risk and strengthen insurer resilience
PFA urges strong oversight of defence as sector gains ground in portfolios
ESG investing in defence is about robust frameworks rather than ‘pretending defence is a clean industry’, says PFA investment officer
PensionsEurope ‘remains positive’ about EU Commission recommendations
The recommendations are a non-binding, non-legislative part of the Commission’s supplementary pensions package from November
People moves: Former London CIV head joins JPES
Rob Treich, former head of public markets at the investment pool London CIV, has joined JPES as a consultant
‘Mandation-lite’ framework remains as Pension Schemes Bill debate concludes
Final UK parliamentary agreement clears Pension Schemes Bill for Royal Assent after last-minute concessions on investment reserve powers
DC consolidation raises fears over loss of governance voice, LCP warns
LCP warns DC consolidation concentrates pension power, risking weaker governance, reduced accountability and stakeholder influence
Mercer helps German corporates reshape pensions with buyout focus
The consultancy is advising German corporates on pension redesigns, CTAs and buyout pathways amid rising de-risking activity
Local Government Pension Schemes back Schroders Capital UK venture LTAF
Lambeth pension fund allocation drives Schroders Capital LTAF past £100m, signalling momentum for DC venture access
Praise for EU Scale-Up Fund initiative given bloc’s late-stage equity funding gap
€100m+ rounds of equity capital remain structurally hard in Europe, according to the director of trade body Clean Tech Europe
Alecta off the hook after ITP panel opts not to cancel major mandate
Swedish occupational pensions giant finally receives confirmation worst potential outcome of 2023 crisis avoided
Border to Coast launches just transition overlay
‘First of its kind’ overlay captures how LGPS pool integrates social dimensions of energy transition into its investment and stewardship activities
Reform in Austria opens door to €17.7bn pension fund inflows
Austria’s proposed reform could drive €17.7bn into pension funds, reshaping investment strategies and member choices
Siemens Pensionskasse targets direct lending to capture illiquidity premium
The Swiss pension fund refined its investment strategy and improved its risk/return profile following an ALM
Investors request regulatory review of HSBC, PwC over climate accounting
AkademikerPension, NEST and Merseyside Pension Fund have asked the UK’s Financial Reporting Council to investigate the firms over their account of climate risks
European research budgets stagnate while US peers increase spend
US firms increase research budgets while European peers lag amid regulatory constraints and CSA uncertainty
EU launches major blended finance fund for EMDE green bonds
Commission says new Global Green Bond Initiative Fund will leverage up to €20bn
Dutch pooled pension schemes HNPF and Stap to merge into €18bn fund
The duo plans to merge in 2027, creating a combined €18bn vehicle with more than 150,000 participants
Finnish pension CEOs say cuts talk is about weak state finances
Keva, Ilmarinen, Varma and Veritas reveal losses for January to March of between -0.1% and -0.5% after Iran war shook markets
Swiss pension funds review currency hedging, avoid tactical shifts
Dollar exposure and gold allocations prompt review of FX hedging, but long-term strategies remain unchanged
Kenfo expands defence allocation amid shifting investor sentiment
Sovereign-style investor Kenfo relaxes defence exclusions as geopolitical pressures and institutional investor demand reshape allocation strategies across Europe
Lower funding ratios for Dutch pension funds as Iran War bites
Dutch pension funds see Q1 funding setbacks as markets reel from Hormuz tensions
BASF faces investor challenge over climate lobbying ahead of AGM
Investors challenge BASF over climate lobbying, urging alignment with EU carbon pricing and net-zero goals
IPE Transition Awards: Faith Ward and Brunel win outstanding contribution
The third annual IPE Transition Conference & Awards were held in The Hague
Pension Schemes Bill at risk of collapsing as ‘mandation’ deadlock continues
The House of Lords voted 234 to 152 to send it back to the Commons for further discussion
Shareholder revolt at BP AGM over climate and governance
Early reports suggest investors have voted against management on two key proposals
TELA says government’s pensions reform proposal only halfway there
Finnish pensions lobby positive on shifting YEL scheme towards earnings-based system, but bemoans fiscal burden, freedom of choice model
NBIM beats benchmark in Q1, as three of SWF’s four asset classes contract
Norway’s giant SWF takes -1.9% hit on investments in the first quarter, with only unlisted real estate in positive territory at end of March
ISSB decides against standalone standard for nature disclosures
Instead, it will employ a ‘practice statement’ to explain how companies can provide nature-related disclosures in accordance with existing standards
Swedish watchdog to probe individual occupational pensions, amid steep fees alarm
Procurement has squeezed fund fees in the premium pension and ITP schemes, but corresponding funds are costlier in individual schemes, FI warns
Asga Pensionskasse shifts towards alternatives to capture new opportunities
Swiss pension fund increases alternatives exposure, cuts bonds, targeting diversification and improved long-term returns
People moves: UK’s Northern investment pool picks chair, CEO
At Northern LGPS, Elizabeth Renshaw-Ames was named chair, while Paras Anand was appointed as chief executive officer
Danish supervisor calls out Velliv over SFDR disclosures
Finanstilsynet claims Velliv didn’t disclose likely impacts of sustainability-related risks on returns of financial products that it had designated as ‘Article 8’
Elo doubles pace of Finnish unlisted growth bets with €100m push in H1
Finnish pensions insurer posts narrowly positive Q1 return as bonds, property gains offset equities losses
UK pensions dashboard programme calls for data quality ahead of deadline
Pension funds are urged to fix data issues as pensions dashboard connection October 2026 deadline approaches
Former UK pensions minister claims VFM framework is ‘utterly unworkable’
Guy Opperman criticises UK’s proposed Value for Money framework as unworkable, as Pension Schemes Bill nears approval
CIOs must step up responsible investment efforts, say major asset owners
Members of the asset-owner project on the future of responsible investment include Allianz, Universities Superannuation Scheme and Denmark’s PKA
Consortia drive Italian pension funds’ access to private markets
Italian pension funds expand consortia model, boosting scale, cutting costs and deepening private markets exposure
EFRAG raises concerns over industry-driven metrics in sustainability standards
EFRAG warns ISSB’s reliance on SASB metrics risks confusion, complexity and weak interoperability across frameworks
Demand for emerging market equities rises among German pension investors
German pension funds increase emerging markets allocations, favouring selective strategies over broad structural shifts
Emma Douglas named chair of UK Pensions Regulator
Her five-year term begins on 1 July 2026, when current interim chair Kirstin Baker steps down
Videndum pension fund joins Clara-Pensions
Clara will also inject additional ringfenced capital into the scheme, enhancing security of members’ benefits as they begin journey to an insured buyout
NEST joins Australian superfunds in search of European private markets deals
A delegation of Australian super funds that includes NEST is seeking investment opportunities in European private markets, starting with France
Wellcome Trust Pension Plan appoints L&G as fiduciary manager
As part of the mandate, L&G will oversee £800m of assets on behalf of more than 3,500 pension fund members
Indecap expands legal objections to Swedish agency’s €18bn tender
‘This is about whether the system works as intended, not about an individual company or Indecap’s bid,’ says Mats Lagerqvist, Indecap’s CEO
Legal battle over transparency of Swiss public pension funds escalates
Court cases in Vaud test whether Swiss public pension funds must disclose investment allocations publicly
Portability reform sparks backlash from Italian funds
Italian pension funds oppose portability reform, warning of risks to private markets investment and domestic economic support
Nearly half of European assets now run by US managers
‘Europe is quietly losing control over how its capital is allocated’, warn observers
Rising rates wipe out asset gains as Dutch pension returns fall to -2.9%
HAL pension fund, the €166m pension scheme of the owner of FD Mediagroep (IPE’s parent company) returned 14%
