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...But thousands of former Debenhams employees subsequently suffered cuts to their expected retirement benefits under the Pension Protection Fund’s reduced compensation terms....
...public-sector pension funds....
...On one hand, leading one of the world’s biggest pension plans should be incredibly desirable....
...For decades the plans — which promise guaranteed pensions calculated on salary and length of service — formed the bedrock of British workplace pension provision....
...The California Public Employees’ Retirement System has named a former top executive at the New Zealand sovereign wealth fund to direct the largest US public pension plan’s investments following the abrupt...
...Topping up a pension plan is also a tax efficient way to induce departures....
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...Today schemes like the Ontario Teachers’ Pension Plan rank among the largest and most sophisticated institutional investors in the world....
...This only leaves the issue of how to persuade the civil service and others to forego their current benefit structure to join the majority of private sector employees in defined contribution arrangements....
...Calpers, the US’s biggest public pension plan, is to increase its holdings in private markets by more than $30bn and reduce its allocation to stock markets and bonds in an effort to improve returns....
...Calpers From the Financial Times’ intrepid pensions guru, Josephine Cumbo, yesterday: Calpers, the US’s biggest public pension plan, is to increase its holdings in private markets . . ....
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...Ailman’s comments come as Europe’s third-largest pension fund has sold €2.8bn of its holdings in oil groups including Shell, BP and TotalEnergies because they were not doing enough to produce credible plans...
...There are no current proposals to shake up the rules so that workers get to choose their own workplace pension provider, as employees in Australia do....
...Ailman’s departure means two of the biggest pension plans in the US are searching for new investment chiefs....
...Despite the concerns, some pension plans continue to bet heavily on private credit....
...“For these employers, the proposed changes may make little or no impact on the contributions paid to their employees’ pension pots, though they should still check that their pension design would continue...
...There are concerns that a shift to a “pot for life” approach could result in people choosing poorer quality pension plans....
...In contrast, contribution rates for the Universities Superannuation Scheme, the main retirement for the sector, are set to fall significantly for both employers and employees due to improvements in the plan...
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...Institutional investors that sided with the activist proposals include Norway’s sovereign wealth fund, the Canada Pension Plan Investment Board, California Public Employees’ Retirement System and the California...
...of EnnisKnupp, a consultancy that works with pension plans....
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...Pensions Poorly performing workplace pension schemes are to be banned from taking on new business under plans confirmed in the Budget....
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