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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....
...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....
...customer’s objectives, and a loss of safeguarded benefits or valued features....
...If you wait for the perfect moment, when pension fund values are high and annuity rates are peaking, it may never happen....
...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...
...the fund and notes from its board meeting....
...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...
...Britain’s £1.4tn DB retirement system serves about 10mn retired and current private-sector employees....
...Harry Keiley, Calstrs’ retirement board chair, said under Ailman’s leadership, the fund had weathered two challenging decades of financial market downturns and bull markets....
...On the plus side for employees, each participant gets a personal account and can opt for a lump sum at retirement instead of a regular payment....
...At least eight very large US public pension funds are using borrowed cash or other leverage strategies, now that the board of Calstrs, one of the largest US retirement funds, this month voted to allow the...
...The UK’s £1.4tn “defined benefit” pensions industry has been switching to corporate debt for its higher yields and to prepare the schemes for potential sales to insurers, analysts said....
...The proposals come after the funding positions of defined benefit retirement plans have improved significantly over the past 18 months due to rising interest rates making it cheaper for the schemes to meet...
...Pimco said in the filing that the conversion would benefit the fund’s shareholders, pointing to a potential reduction in costs, including no 12b-1 fees, sales charges and “other potential benefits”....
...“Widespread defaults have not yet occurred,” said the $105bn Ohio Public Employees Retirement System in a board meeting agenda last month, “however, indications point towards trouble ahead”....
...Meanwhile, offsetting changes to the benefit system have cushioned the impact of stagnating incomes and the surging cost of living for lower-income households....
...As you say, though, the annuity market has improved recently and so it is sensible for anyone approaching retirement, or even those who have started to draw benefits, to give the purchase of an annuity full...
...fund can switch some (or all) of it into an annuity....
...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...
...Almost all other government employees don’t. As such, the Treasury’s largest cohort of creditors include nurses, teachers, civil servants and soldiers....
...Concord, which is controlled by investor Alchemy Copyrights and is ultimately majority owned by US pension fund Michigan Retirement, has been an acquirer of music rights and companies....
...One ambition for the board and investors will be for L&G to expand its international operations and to look for growth outside of the bulk annuity market, which provides the biggest share of its profits....
...One of his final acts has been to obtain board approval for a controversial $30bn of borrowing to help manage the fund’s giant illiquid portfolio....
...Now, less than a year from a general election and a few weeks from the end of the tax year, there’s a pressing question for wealthier pension savers of retirement age....
...Mick McAteer, a former board member of the Financial Conduct Authority, said if the government wants to meet dual goals of “pot for life” and improving retirement outcomes, the best model would have been...
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