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...These “buyouts” — of pension plans and the assets backing them — are regarded as the gold standard for safeguarding benefits....
...More than 10,000 members of the Debenhams pension plan were transferred to the UK’s pension protection scheme in 2019, following the collapse of the 240-year-old retail group....
...Pension trustees have also said they are worried about the potential threat from such arrangements....
...The group would use mutuality as a pitch to pension trustees, chief executive Barry O’Dwyer told me....
...“The duty of pension scheme trustees first and foremost is to maximise returns for members.”...
...Both pension schemes are defined benefit plans, which pay a secure pension dependent on length of service, salary and age....
...and legal advice, and the appointment of trustees for the scheme’s governance....
...“I am not sure that it is the role of the government to tell trustees where they place their money,” he said, when was asked whether he thought governments should compel pension funds to invest to help meet...
...“I am not sure that it is the role of the government to tell trustees where they place their money,” said Armitt....
...As part of the reforms, the government gave further details about its plan announced in November to create a public pension consolidator by 2026, which could help channel billions of pounds of pooled pension...
...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...
...Speaking last week, before the Treasury outlined plans for a major reform of the sector, Carol Young, chief executive of the £73bn Universities Superannuation Scheme, said she had no problem with new disclosure...
...Trustees of UK pension schemes would be prevented from taking “overly risky” decisions after government plans to ease employers’ access to billions of pounds in pension fund surpluses, ministers said....
...“In my view, managing this type of risk should be the responsibility of governments, not trustees of pension schemes.”...
...The sharp fall in the deficit was in line with wider funding improvements for thousands of corporate defined benefit (DB) plans in the UK, which promise members a pension for life....
...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....
...Clara, which will provide £30mn of new capital to the Sears plan, will use the scheme’s assets to generate returns to pay pensions with the aim of securing a full buyout deal with an insurer within five...
...At the end of 2022 there were around 27,000 UK DC pension plans, with 85 per cent reporting fewer than 12 members. UK pension plans’ investment remains heavily focused on listed equities and bonds....
...Any switch to compulsory investment in the UK should set klaxons blaring for pensions lawyers and trustees....
...Nausicaa Delfas, newly appointed chief executive of The Pensions Regulator, added that it was important for trustees of defined contribution plans to have the expertise to assess more complex assets — and...
...A spokesperson for The Pensions Regulator said: “Our job is to make sure pension savers are protected, and we are currently in discussions with the trustees of the CBI Retirement Benefits Plan and the CBI...
...The scrapping of the northern sections of HS2 has triggered concerns among pension trustees about investing in long-term projects like infrastructure....
...This requires trustees to set funding targets, then establish a plan towards an asset allocation which broadly matches assets with actuarial liabilities....
...Currently, the PPF has a remit only to compensate members of failed private sector “defined benefit” pension plans, of which there are 5,200 in the UK, with about 10mn members....
...Following confirmation that the BP scheme was considering buy-in options, the pensioners group called on the trustees to commence a full consultation with the plan’s 60,000 beneficiaries....
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