Funding – Page 34
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NewsStudy highlights imbalance between dividends and pension payments
LCP found that FTSE 100 companies paid £90bn to shareholders and just £13bn to pension funds in 2018
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Marks & Spencer strikes fresh buy-ins worth £1.4bn with PIC, Phoenix
The UK high street chain has now insured ‘approximately two thirds’ of its pensioner liabilities to reduce exposure to longevity changes and other risks
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Swiss voters approve €4bn recapitalisation of Geneva pension fund
A plan worth CHF4.4bn will take the Swiss canton’s public pension scheme to a funding level of 75%, but without a DB to DC shift
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UK regulator to expand scope and powers [updated]
The Pensions Regulator says it will take a greater interest in more pension schemes as part of its latest corporate strategy
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NewsSwiss pension funds bounce back from 2018 losses
The average funding ratio of Swiss Pensionskassen declined by more than 5 percentage points during 2018 after the fourth-quarter equity crash
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UK high street chain shuts £5.6bn DB scheme
John Lewis Partnership will switch its staff to an “improved” defined contribution fund after a year of negotiations with staff
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BT slashes cost of legacy pension equalisation
UK company annual reports are starting to reflect less pessimistic estimates of the cost of October’s court ruling
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Fresh proposals for USS funding fail to satisfy university staff
The higher education staff union says a proposed new contribution schedule for the £64bn scheme is not sufficient to break the negotiating deadlock
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NewsLife expectancy will continue to fall in 2019: KPMG
Longevity swap contracts could be ‘out of the money’ given major shifts in data on life expectancy, warns accountancy group
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Stagecoach sues UK government over pension-related rail franchise ban
The transport company is taking legal action after it was banned from three franchises for refusing to take on funding risk related to Railpen
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Engineering scheme introduces real assets portfolio, targeting €2.5bn
Dedicated allocation is to replace PME’s 1.6% alternatives portfolio, comprising forestry and infrastructure
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ABP to focus on energy transition to support local economy
Civil service scheme says it has been difficult to find sufficient investment volume to allocate to domestic assets in the Netherlands
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NewsNetherlands roundup: Port workers eye legal action against regulator
Plus: A survey of pension scheme members has found that three quarters supported ESG investing – and would accept lower payouts to facilitate it
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NewsUK charities facing ‘double whammy’ as pension deficits climb
Hymans Robertson has urged charity DB fund trustees to assess options for securing covenants or consolidating
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Geneva’s €11.2bn pension fund pleads for ‘double Yes’ in funding vote
CPEG is anxious about a May referendum that could pave the way for much-needed financing
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Chart of the Week: Dutch schemes bounce back with Q1 gains of up to 8.5%
Strong equity markets and rising government bonds help recovery from weak end to 2018
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Country ReportNetherlands roundup: PNO picks Kempen as fiduciary for DC plan
Plus: Construction company scheme to liquidate; Metal industry schemes increase lobbying against rights cuts
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BaFin warning on Pensionskassen was ‘wake-up call’ to sector
Chair of Wacker Chemie Pensionskasse argues that regulatory intervention was ‘beneficial shock’ for some organisations
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UK roundup: PPF sets out three-year goals for innovation, efficiency
Plus: Debenhams schemes stay out of PPF; ‘Significant minority’ of firms support CDC; DB funding level falls over Q1
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German chemicals company de-risks with lump sum payments
Employees respond positively as Henkel offers one-off payment to reduce DB liabilities
