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...These “buyouts” — of pension plans and the assets backing them — are regarded as the gold standard for safeguarding benefits....
...The company said Lavine, a large donor to the Democratic party and the former chair of Columbia University’s board of trustees, “believes the time is right to take on a new role” and step back from day-to-day...
...Mick McAteer, co-founder of the Financial Inclusion Centre think-tank and a former FCA board member, said the stress-test plan was “very welcome”....
...The government has drawn up contingency plans for Thames Water dubbed Project Timber under which the business would be nationalised and split in two, with its debts expected to go on the public balance sheet...
...Following confirmation that the BP scheme was considering buy-in options, the pensioners group called on the trustees to commence a full consultation with the plan’s 60,000 beneficiaries....
...Armitt is a former chair of the National Express Group and held senior roles with the Berkeley Group as well as the Board of Transport for London....
...Many workers wish for the simplicity of a pension that does not run out: 73 per cent of workers surveyed last year by insurer Nationwide said they wished their 401k plan had a lifetime income option....
...Local government workers, MPs, and those working for the Bank of England see their monthly pension contributions invested in assets like equities, bonds and infrastructure....
...Employers are not obliged to pay into a pension plan chosen by their workers....
...At the end of 2022 there were around 27,000 UK DC pension plans, with 85 per cent reporting fewer than 12 members. UK pension plans’ investment remains heavily focused on listed equities and bonds....
...Private equity executives need to “share the wealth” they create with workers at the companies they buy, according to the investment head of Calstrs, the giant US pension fund that is one of the world’s...
...Austin said the deaths of World Kitchen Workers highlighted the dangers of Israel’s intention to attack the town of Rafah, where more than 1mn civilians are sheltering....
...Tata Steel plans to lay off about 2,800 workers as part of a major restructuring of its UK operations, dealing a blow to what was once one of the country’s biggest industries....
...The cut to NI will put money back into the pockets of workers who have suffered a severe cost of living squeeze. But it is ultimately a wasteful use of the UK’s tight public finances....
...Nippon is still one of the world’s largest operators of blast furnaces, but it has closed several of its own in Japan in recent years to cut costs and emissions, laying off thousands of workers....
...Clara, which will provide £30mn of new capital to the Sears plan, will use the scheme’s assets to generate returns to pay pensions with the aim of securing a full buyout deal with an insurer within five...
...Ross Goobey managed the remarkable feat of persuading the fund’s trustees to let him invest in equities and dump the fund’s gilts....
...Today, pension trustees — and I am the chair of a small scheme — have no incentive to hold more equities. Our job is to protect pension promises....
...’ closed mortgage books, with a balance sheet of almost £116bn....
...For personal retirement savers, the chancellor also confirmed plans to consult on sweeping changes to the pension market, to give workers the right to choose their own workplace pension fund....
...Any switch to compulsory investment in the UK should set klaxons blaring for pensions lawyers and trustees....
...Auto-enrolment into private pensions could be extended to cover more workers for instance, to provide more independence from the state pension....
...Read more on the plans to upgrade the US-Japan security alliance....
...That’s partly the result of pressure from climate groups which argue that transition plans should consider risks to stakeholders ranging from oil-rig workers to endangered species....
...Nausicaa Delfas, newly appointed chief executive of The Pensions Regulator, added that it was important for trustees of defined contribution plans to have the expertise to assess more complex assets — and...
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