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...The so-called pensions lifeboat takes over the assets and liabilities of failed companies’ pension schemes....
...of EnnisKnupp, a consultancy that works with pension plans....
...These “buyouts” — of pension plans and the assets backing them — are regarded as the gold standard for safeguarding benefits....
...“Thames Water is a canary in a coal mine,” said one water company investor. “You’ve got the biggest water company teetering on the brink and we are all watching....
...Making flexible withdrawals from your pension pot — or drawdown — remains the most popular retirement income option, according to new data from the Financial Conduct Authority....
...But at that stage every pension plan was an island, with no interconnections and no obvious mechanism for enabling the pension to follow the member. Ten years on that has all changed....
...On one hand, leading one of the world’s biggest pension plans should be incredibly desirable....
...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....
...UK ministers and the regulator must not “finish off” the remaining traditional pension plans offering millions of workers a secure retirement income by making them invest in less-risky assets “inappropriately...
...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...
...The plan is designed to alleviate pressure on a pension system that is expected to come under huge strain in the next few years as a whole generation of “baby-boomers” born in the 50s and 60s enters retirement...
...Membership of workplace pensions has grown by more than 10mn since reforms requiring employers to automatically enrol staff into company retirement plans came into force in 2012 with around £116bn invested...
...The BlackRock chief also warned that the rise of defined contribution pension plans had combined with the growing strain on the social security government retirement programme to leave the US particularly...
...Employers are not obliged to pay into a pension plan chosen by their workers....
...That’s a big driver of a parallel trend in the other direction that has seen a record number of US companies paying to offload their closed pension plans to insurers while rates are high....
...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...
...“We know that as we live for longer, we need to work for longer,” she said, adding, “we’ve got no plans to lower the state pension age.”...
...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...
...Access to about £225bn in surplus funds held in traditional-style company retirement plans is to be made easier for thousands of employers under measures set out by the UK government....
...Today schemes like the Ontario Teachers’ Pension Plan rank among the largest and most sophisticated institutional investors in the world....
...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....
...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....
...But UK business has been brisk: rising interest rates have transformed funding levels in defined benefit pension schemes and enabled companies to consider offloading future liabilities....
...The City of London Corporation, which has collaborated with the government to channel long-term capital from pension funds into UK companies, said the chancellor’s new pension measures would “turn the dial...
...Thousands of company pension plans in the UK have amassed surpluses over the past 18 months, thanks to interest rate rises driving down the cost of pension promises....
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