Defined benefit – Page 19
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News
UK roundup: Private sector companies still provide DB pensions
Plus: Investor group calls on UK CEOs for action on mental health; Workplace pension members plan contribution reduction to cope with living cost
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NewsUK pension funds hit record £250bn surplus, research from PwC reveals
The increase was mainly driven by the continuing rise in long-term bond yields
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NewsUBS UK scheme extends longevity hedge by £500m
The longevity swap was adapted to cover the scheme’s DB deferred members over age 60 – a market first
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NewsUK roundup: Clear member options could reduce buyout DB costs by £100bn
Plus: Redington launches independent testing service for trustees
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FeaturesUK DB schemes in a risk transfer sweet spot
Pension funds are in a good position for buyouts, but is there enough capacity in the market and will DB superfunds provide a genuine alternative?
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NewsFTSE 350 pension surplus almost doubles after 2021 deficit exit
DB sponsors report surpluses as schemes emerge from the red in 2021
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News
UK roundup: Queen’s Speech fails to mention new Pensions Bill, autoenrolment plans
Plus: DB schemes see improved health; Buck launches DB governance tool
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Opinion PiecesViewpoint: Modelling a longevity shock – A £1bn scheme would need to find £120m
By Howard Kearns, longevity pricing director at Insight Investment
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Country ReportUK: The long and winding road to consolidation
Brexit, COVID and other factors delay regulation that would enable commercial DB scheme consolidators to operate
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NewsTPR calls on trustees to reduce covenant reliance
UK pensions regulator points to the importance of assessing how current market events are shaping the employer covenant
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NewsUK roundup: Fidelity, Tumelo launch stewardship hub
Plus: Act quickly to lock in funding gains, says Hymans Robertson; LGIM reports on latest DC savers’ preferences
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FeaturesDefining the precise scale advantages for DB pension funds
Most people working in the institutional asset management space have an intuitive understanding that the size of the institution, measured by total assets under management (AUM), has an impact on performance – that bigger funds tend to perform slightly better. On the other hand, there are plenty of stories of successful hedge funds that got too large and lost their way, unable to continue delivering on past success due to their size. So which is it? Do larger institutional investors outperform their smaller kin, or is AUM the proverbial millstone in terms of performance?
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Newsabrdn launching DB mastertrust through tie-up with XPS
DB pension scheme for unconnected employers scheduled to launch in Q2
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News
UK roundup: London councils switch pension investments to renewable energy
Plus: DB schemes maintain surplus amid market volatility
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News
IASB calls a halt to IFRIC 14 DB refund project
A total of 11 IASB members out of 12 backed the decision to cease work on the project
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FeaturesStrategically speaking – WTW: Democratising private markets
WTW’s ill-fated merger with Aon, announced at the outset of the pandemic in early March 2020, would have shaken up the corporate insurance brokerage market. It would also have created an outsourced CIO (OCIO) giant to compete with Mercer in terms of delegated assets under management (AUM).
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Book ReviewBooks – Demographics Unravelled: A broad and granular understanding of demographics
Amlan Roy’s contention in his new book Demographics Unravelled is that a wider and more holistic approach to demographics is necessary. An academic by background and a long-standing former head of global demographics and pensions research at Credit Suisse, Roy’s choice of focus in his book underlines his views.
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Opinion PiecesNotes from the Netherlands: Inflation could bolster pension reforms
The Dutch pension agreement, paving the way for a change from a defined benefit to defined contribution-type system, was concluded in the pre-COVID summer of 2019. But it is still waiting to be implemented, with the delay blamed on the protracted negotiations following Dutch parliamentary elections in March 2021.
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FeaturesAccounting: DB sponsors at a crossroads
If a decade ago the talk was of defined-benefit (DB) scheme sponsors locked in an infernal struggle against the dizzying gravity of spiralling accounting deficits, thoughts now are turning to the end game.
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Country ReportCountry Report – Pensions in The Netherlands (March 2022)
The nominal treatment of liabilities in the Netherlands’ FTK pension regulatory framework means schemes don’t need to explicitly hedge inflation. But Dutch inflation came in at one of the highest rates in the euro-zone in January, and there has been strong criticism in the last decade about pension indexation cuts.
