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...But as higher interest rates improved pension scheme funding levels, prompting a record £50bn of corporate pension deals last year, some UK life insurers have passed on portions of these pension scheme assets...
...In 2021, the government announced the £5bn sale of Bradford & Bingley and NRAM Limited — and their remaining loans, acquired by the taxpayer as a result of the financial crisis, to the private sector....
...DB schemes pay retirement income based on salary and length of service. The PPF estimated that the combined deficit of those plans fell from £60bn to £6bn, according to the report....
...The leader of the UK’s biggest private sector pension scheme has urged the government to refrain from excessive intervention in how retirement funds are managed....
...I have a client who did well out of a company Sharesave scheme and now wants to sell the assets....
...Investment Corporation....
...The Isle of Man also has weaker corporate transparency rules than the UK and lower corporation and personal taxes....
...The party estimates its reforms could enable an average saver to earn an extra £21,000 to £37,000 in retirement income....
...Hedging limited the benefit from the interest rate rises. The fall in liabilities of just over a third in the three years to 2023 was matched by a similar decline in the valuation of assets....
...A key challenge is that there are limited options for asset owners who want to continue investing in big energy companies while managing their fiduciaries’ exposure to climate risk....
...Cliff White headed the Justice Department’s bankruptcy “watchdog” unit, the US Trustee Program, for 17 years prior to his retirement in 2022....
...The UK’s pension lifeboat fund is pushing to become a consolidator of corporate retirement plans in a move that it believes could unleash “substantial” new investment for the economy....
...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...
...attract retirement funds....
...Given limited competition in the burgeoning bulk annuities market, this presents an opportunity....
...The PPF, which has £39bn in assets, said its rules meant it was in effect constrained in further reducing the levy irrespective of the state of its own finances because it is limited by law from increasing...
...Andrew Kail, chief executive of L&G’s institutional retirement division, said the market had reached an “inflection point” and the insurer “had been busy gearing up for increasing demand”....
...Brussels has also tried to encourage voluntary schemes to cover start-up costs up to €100,000....
...This could ultimately exacerbate the UK’s retirement crisis....
...John Shaw had never heard of a “buyout” or Pension Insurance Corporation until 2021, when his entire pension savings, accrued over four decades at the can-maker Crown, were transferred to the insurer....
...SFO is investigating Safe Hands and its parent company SHP Capital Holdings Limited after their funeral scheme went into administration last year with an estimated £70.6mn in outstanding claims from creditors...
...“It’s increasingly difficult for working parents . . . and the current scheme is just not practical for single parent households,” she said....
...But if biomass-based schemes are to play a major role, they will require close monitoring of land management in far-flung regions....
...A deal for BP’s scheme would likely set a new record, eclipsing the £6.5bn of pension liabilities that RSA agreed to transfer to the Pension Insurance Corporation in February....
...“That’s kind of what it’s been like [until now] for investors trying to assess climate-related financial risks to their retirement savings.”...
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