Pension System – Page 47
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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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NewsLower indexation in new Dutch DC system, finds Aegon AM
Pensioners would have received between 1.5% and 3.6% in indexation in 2023 if the new DC system had already been in place, says the asset manager
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NewsDACH roundup: AllianzGI partners with DBR for pension transfer services
Plus: Pension schemes’ funding ratios of DAX, MDAX companies continues to rise; BaFin shows shortcomings on risk reporting; Swiss fund market’s volume shoots up
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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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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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AnalysisAnalysis: Will German government backtrack on public fund for third pillar pensions?
Stakeholders proposing reforms show little appetite for plan laid out by coalition partners
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NewsGerman stakeholders group issues recommendations for third pillar reform
Recommendations include offering third pillar products with subsidies targeting particularly lower income groups, young people, parents of children, and young adults in training
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NewsDACH roundup: Swiss pension funds returns 4.6% in H1
Plus: WTW warns of liabilities for Swiss corporate schemes; GDV’s report on occupational schemes, insurers; Institutional investors back KKA Partners fund
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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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NewsSwiss BVK sets up two new pension plans from next year
The ‘Dyna’ and the ‘Kombi’ pension plans are now available for BVK members
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NewsItaly roundup: Generali Investments buys Cathay Life business
Plus: Women are still underrepresented in first pillar schemes, says Adepp
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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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Opinion PiecesViewpoint: Breaking the banks
Pension funds should ally themselves with activist investors to break up the hegemony of large banks
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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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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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NewsWave of demand for bulk annuity market expected to hit record level
Bulk annuity market doubled over the last five years, says PIC
