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...Industry-level aggregate data from the Pension Protection Fund shows that UK defined benefit pension plans invested 10 per cent of their equity allocations into domestic listed companies in 2022, down from...
...These “buyouts” — of pension plans and the assets backing them — are regarded as the gold standard for safeguarding benefits....
...“Curaleaf has the benefit of having a playbook because we’ve done this before in the US,” said Martinez....
...For decades the plans — which promise guaranteed pensions calculated on salary and length of service — formed the bedrock of British workplace pension provision....
...No regulated advice or guidance (which is free from the government-backed Pension Wise service) was sought for 37 per cent of income drawdown plans taken out in the 2022-23 tax year....
...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....
...“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....
...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....
...The writer is an FT contributing editor At the last official reckoning in 2021, the value of UK public service pension scheme liabilities eclipsed 100 per cent of GDP....
...Its frozen plan had $3.6bn more in assets than liabilities at the end of 2022....
...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 pension tax change is expected to be closely watched by other corporate sponsors of “defined benefit” plans against the backdrop of much-improved funding positions....
...Yet Just Group’s shares haven’t been buoyed along with the buyout market. Its share price and that of bigger rival L&G have snaked sideways for more than a year....
...The ECB puts housing wealth at around 350 per cent of GDP. The present value of pension entitlements under current social insurance systems are in the same ballpark....
...Yvonne Braun, director of long-term savings at the Association of British Insurers, welcomed the plans to compare the performance of pension providers....
...The aggregate surplus of the UK’s 5,100 pension schemes was about £428bn at the end of December, according to analysis by the UK’s Pension Protection Fund....
...The regulator estimated that the combined value of assets for 5,100 company defined benefit plans fell by around £425bn over 2022, from £1.79tn to £1.36tn — equivalent to a 24 per cent drop....
...Claire Trott, divisional director of retirement and holistic planning at St James’s Place, says: “This is a question we are asked all the time, and there isn’t a right answer as none of us have a crystal...
...Proceeds from the investments will be used to keep the pension system stable and ensure that payments remain at 48 per cent of an average wage until the end of the next decade while avoiding steep increases...
...“The benefit of not having multiple pensions littered through someone’s work history is that there is less chance of losing valuable sources of retirement income, which is a significant and growing problem...
...If you don’t have any stipulations in place — some death benefits can be bought as “add-ons” to an annuity — your pension funds return to your provider upon your death....
...Toby Nangle’s Markets Insight piece (“Public service pension cash can be put to work”, Opinion, February 23) looks again at the riddle “Which is worth more?...
...One of the triggers of the dispute was a 2020 valuation of USS at the height of a market crash, which recorded a deficit of £14bn and led to a cut to benefits, resulting in criticism of how the scheme was...
...“We can’t be compared to US or China performance because the trillions of dollars of market cap in [those countries] doesn’t yet exist in India,” Singh said....
...Milliman’s public pensions study estimates a lower aggregate funded ratio of about 76% at the end of last year, with only 7% of plans exceeding fully funded status....
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