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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....
...which has the potential to be the biggest in the history of the industry....
...“Frankly, there’s no reason why any of the pension funds here should say ‘oh, I’ve got to invest in the UK’....
...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....
...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 average top 200 US corporate pension fund now has 105 per cent of the assets needed to fund its benefits, the highest ratio in 15 years, according to BlackRock, which has urged its corporate pension...
...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....
...Ross Goobey managed the remarkable feat of persuading the fund’s trustees to let him invest in equities and dump the fund’s gilts....
..., the industry body....
...He put it into the Portman Pension Scheme, one of a group of vehicles known as the “Ark funds”....
...The Pension Protection Fund’s Purple Book — the UK’s almanack of private sector defined benefit pensions — dropped on Wednesday....
...“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....
...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...
...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....
...Any switch to compulsory investment in the UK should set klaxons blaring for pensions lawyers and trustees....
...UK pension fund trustees must consider increasing the range of their investments, including in start-ups or other illiquid assets, or face “robust” intervention, the British regulator has warned....
...Second, he’d like to raise the stock of risky assets held by pension funds....
...But because of its size the fund has a higher allocation to so-called productive finance assets than most “closed” corporate DB schemes, where the rules have encouraged the trustees to invest in low-risk...
...The opacity of the market has led to wide variations in fees paid by pension schemes even when they are buying identical or very similar funds, according to ClearGlass Analytics, a consultancy that has built...
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