Report
-
June, 2020
RPI reform delayed
The government has extended the deadline for the consultation on reforming the retail price index, to give businesses dealing with the repercussions of the Covid-19 outbreak more time to respond. Chancellor Rishi Sunak wrote to the chair of the UK Statistics Authority, Sir David Norgrove, informing him that the consultation would close for responses on 21 ...
Read More -
June, 2020
ESG funds outperform amid market downturn
Funds with environmental, social and governance criteria have outperformed the broader market during the Covid-19 crisis, according to research by S&P Global. The index provider analysed 17 exchange-traded and mutual funds with over $250 million in assets under management that select stocks for investment based partly on ESG themes. Among those funds, 12 ...
Read More -
June, 2020
PLSA urges company oversight of Covid-19 response
The Pensions and Lifetime Savings Association has called on schemes to put companies on watch over how they respond to the Covid-19 pandemic. While most companies have generally acted responsibly in the face of the challenges posed by the coronavirus the PLSA said, it was mindful that some firms nationwide are laying off or furloughing members of staff in ...
Read More -
June, 2020
Lothian reveals ESG targets
Lothian Pension Fund has unveiled a target to measure 100% of its equities for carbon intensity within three years as part of broader plans to embed ESG considerations into its investment processes. The scheme, which has around £8 billion in assets and is the second largest in Scotland, issued the proposal as part of its operating plan for 2020/21. The ...
Read More -
April, 2020
Covid-19 hikes deficits by £100 billion in week one
The market volatility caused by the outbreak of Covid-19 added £100 billion to the deficits of the UK’s defined benefit schemes in just one week, according to analysis by Hymans Robertson. The downturn in global equity markets had taken solvency deficits to around £500 billion and if the spread continues could cause a macroeconomic shock, which has ...
Read More -
April, 2020
FCA delays DB transfer reforms
The Financial Conduct Authority has pushed back the implementation of its planned changes to the defined benefit transfer market by six months. The regulator had been expected to implement the reforms, which will include plans to ban contingent charging and introduce abridged advice, during the first quarter of this year. However, the FCA updated its ...
Read More -
April, 2020
Northumberland and Tyne and Wear schemes plan to merge
The government has launched a consultation on plans to combine the Northumberland County Council Pension Scheme into the Tyne and Wear scheme, in the hope of saving up to 12% in administrative and governance costs a year. The Ministry of Housing, Communities and Local Government said changes affecting the LGPS including the introduction of the career ...
Read More -
April, 2020
London CIV strengthens senior management key appointments
The London Collective Investment Vehicle (CIV) has made three appointments to its management team, aiming to strengthen its responsible investment resources. LCIV, one of the eight LGPS investment pools, has hired Jason Fletcher as chief investment officer, commencing in July. Fletcher joins after three years as chief investment officer at LPGS Central, ...
Read More -
April, 2020
TPR advises on Covid-19 contingency plans
The Pensions Regulator (TPR) has urged trustees to put appropriate monitoring and contingency plans in place to account for the financial risks of Covid-19 to their schemes. In a statement the regulator said it was “engaging with the pensions industry to understand the pressure it faces from Covid-19 and to help minimise any impact on ...
Read More -
April, 2020
Falling Gilt yields to weigh heavily on funding
Plummeting Gilt yields will likely cause further funding problems for defined benefit pension schemes, as investors pile into safe haven assets amid the Covid-19 outbreak, according to pensions consultancy Barnett Waddingham. Short-term fixed-interest Gilt yields turned negative for the first time in history in March, exacerbated by the cut in the Bank of ...
Read More
