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...Senior industry professionals say they are worried about the growing involvement of overseas reinsurance firms operating outside UK regulation in corporate pension deals....
...did its first transaction last year with a corporate pension plan that was not in the protection fund....
...“The duty of pension scheme trustees first and foremost is to maximise returns for members.”...
...Pension trustees have also said they are worried about the potential threat from such arrangements....
...The trustees of the schemes did not respond to requests for comment. UKAR has gradually been selling the assets of B&B and Northern Rock to the private sector....
...The only current disclosed short seller is London-based hedge fund Marble Bar....
...“The bigger funds are more nimble and can act quickly,” said Chris Roberts, managing director at Dalriada Trustees, a firm of professional trustees....
...BlackRock’s LifePath Paycheck, which rolls out in April, also combines target date funds with annuities, but the guaranteed payments can start sooner, allowing participants to keep the rest of their pension...
...Employers’ access to billions of pounds of surpluses in UK company pension funds would be eased under proposals set out by the government on Friday....
...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....
...“Frankly, there’s no reason why any of the pension funds here should say ‘oh, I’ve got to invest in the UK’....
...Furthermore, the Department for Work and Pensions will extend the Pension Protection Fund’s mandate to become a public sector consolidator of schemes that are too small for cost-efficient buyouts....
...lower the cost of pension promises....
...facing pension funds It was not the most festive of Christmas cards....
...Trustees have also warned that industry moves to make the financial system more resilient could yet lead to unintended consequences....
...Yet in the context of how our pension funds are invested, “lifestyling” could blight your retirement prospects. This is what 59-year-old Martin unfortunately found out the hard way....
...Before then, they mostly had to buy annuities. Bond-heavy annuity funds hedged that liability as retirement approached....
..., the industry body....
...Ross Goobey managed the remarkable feat of persuading the fund’s trustees to let him invest in equities and dump the fund’s gilts....
...Today, pension trustees — and I am the chair of a small scheme — have no incentive to hold more equities. Our job is to protect pension promises....
...“What [pension funds] need to do is develop links with the VC industry to give them the confidence to be able to make those investments that are in the interests of their pension holders,” he said....
...The Pension Protection Fund’s Purple Book — the UK’s almanack of private sector defined benefit pensions — dropped on Wednesday....
...He put it into the Portman Pension Scheme, one of a group of vehicles known as the “Ark funds”....
...Fund analysis....
...He added that this was because the funding deficit was “much less volatile than it used to be, as the pension trustees have hedged most of the fund assets to match future payout obligations, and also much...
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