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...These “buyouts” — of pension plans and the assets backing them — are regarded as the gold standard for safeguarding benefits....
...Thousands of members of the pension plan of collapsed retailer Debenhams are to have their retirement benefits restored under a groundbreaking deal for the UK’s nascent “superfund” market....
...Mick McAteer, co-founder of the Financial Inclusion Centre think-tank and a former FCA board member, said the stress-test plan was “very welcome”....
...“The duty of pension scheme trustees first and foremost is to maximise returns for members.”...
...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....
...which has the potential to be the biggest in the history of the industry....
...and legal advice, and the appointment of trustees for the scheme’s governance....
...defined benefit pension fund trustees to reverse the long-term switch out of equities....
...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...
...In his Budget, Hunt confirmed new measures that require local authority pension funds and private sector retirement plans to disclose their UK investments....
...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...
...plans or retirement account agreements, Pimco said in the filing....
...Trustees of large pension funds in the UK are already required to set a climate-related investment target, and must also consider the potential impact of climate change on a scheme’s assets and liabilities...
...The group added that a “stabiliser mechanism” put in place in 2020 by BT to protect the group against overfunding of its retirement plan — a risk as interest rates rise — means the group might be eligible...
...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...
...Some of the industry’s challenges in becoming responsible businesses flow from the sheer size of its workforce....
...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....
...The bulk of assets in UK DC plans — around 75 per cent — are invested in mainstream listed equities, according to the Pensions and Lifetime Savings Association, an industry body for the workplace pension...
...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...
...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...
...Pension members can look forward to greater security in retirement. And sponsors can look forward to the end of deficit reduction contributions....
...Andrew Gallagher, chair of trustees for the BAE Systems pension schemes, said: “As we continue to look at ways to further de-risk pension liabilities, reducing the cost and improving the efficiency of asset...
...The PPF added that to unleash cash for investment it would be “essential” to change the pension system, and in particular to “sever the link” between the sponsoring employer and its retirement plan, which...
...This has recently become a problem as a surge in interest rates has led to an increase in funding for thousands of retirement plans, with the aggregate surplus for DB schemes now estimated at more than £300bn...
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