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...These “buyouts” — of pension plans and the assets backing them — are regarded as the gold standard for safeguarding benefits....
...More than 10,000 members of the Debenhams pension plan were transferred to the UK’s pension protection scheme in 2019, following the collapse of the 240-year-old retail group....
...of EnnisKnupp, a consultancy that works with pension plans....
...This included the need for “clear, simple and legitimate recognition” by SBTi of credits in corporate plans, which the document, seen by the Financial Times, suggests could be promoted by industry groups...
...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 appointment comes as some of the pioneers of the $4tn private equity industry plot succession plans beyond their founders, or even second and third generations of leadership....
...Arabia’s Public Investment Fund bought a 49 per cent stake in Sir Rocco Forte’s luxury hotel group in December with plans to double the chain’s size over the next five years with new hotels in the Middle...
...“The duty of pension scheme trustees first and foremost is to maximise returns for members.”...
...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....
...“The central purpose of DB pension schemes — to pay the benefits promised to members — should not be undermined,” said Hetty Hughes at the Association of British Insurers, the industry trade body....
...Speaking last week, before the Treasury outlined plans for a major reform of the sector, Carol Young, chief executive of the £73bn Universities Superannuation Scheme, said she had no problem with new disclosure...
...Some of the UK’s biggest pension plans are taking advantage of steep price discounts to snap up real estate and other private assets, as fellow retirement funds put their harder-to-sell holdings on to the...
...The $38tn US retirement system is one of the world’s largest, and US employers were among the first to shift from defined benefit pensions to defined contribution plans....
...There are always a lot of different interests to manage at the top of a pension plan, but the psychodrama between the board, plan members, the investment staff, the media, and local, regional and national...
...In its response, the Society of Pensions Professionals, an industry body, raised “grave” concerns about the lifetime provider model....
...“In my view, managing this type of risk should be the responsibility of governments, not trustees of pension schemes.”...
...The appointment is subject to approval from the bank’s board, which is due to meet on Thursday, said people with direct knowledge of the plan....
...John Graham, president and chief executive of the Canada Pension Plan Investment Board, which has C$576bn (£337bn) in assets, told the Financial Times he was opposed to “any constraint on portfolio construction...
...The board of Thames Water, Britain’s largest water company, was locked in crisis talks on Wednesday after shareholders refused to confirm they would provide about £3bn of fresh equity that is necessary for...
...The bulk of assets in UK DC plans — around 75 per cent — are invested in mainstream listed equities, according to the Pensions and Lifetime Savings Association, an industry body for the workplace pension...
...Calpers, the largest pension plan in the US with $452bn in assets, had total fund leverage of 8 per cent as of June 2023, which included what the fund described as “active” and “strategic” leverage....
...Tesla has been forced to go back to the drawing board after residents of the east German town of Grünheide, the site of its only European assembly plant, overwhelmingly rejected a plan to massively expand...
...The sharp fall in the deficit was in line with wider funding improvements for thousands of corporate defined benefit (DB) plans in the UK, which promise members a pension for life....
...Bernard Arnault has spent four decades building the construction company he inherited from his father into luxury leader LVMH, becoming one of the world’s richest people in the process....
...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....
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