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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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Marks & Spencer seals £1.4bn buy-in deals with Aviva, Phoenix Life
Simultaneous buy-ins include Aviva’s biggest de-risking transaction and Phoenix’s first external deal
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UK roundup: Marks & Spencer, PPF, L&G
Return-seeking assets help Marks & Spencer replace DB deficit with £204m surplus
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UK roundup: Mercer, FTSE 350, Marks & Spencer
Mercer sees listed company deficits at highest level ever
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UK roundup: Marks & Spencer, Interserve, LPEQ
UK – Retailer Marks & Spencer agrees new funding proposal after DB deficit falls.
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NewsCCLA launches ‘modern slavery benchmark’ to help investor engagement
The UK’s finance sector scored poorly overall in the ranking
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NewsUK roundup: Marks & Spencer, J Sainsbury, BT Group
UK – Marks & Spencer and J Sainsbury have announced agreements to help cut the deficit in defined benefit pension schemes through property partnerships. Elsewhere, BT has reported an increase in its pension deficit on an accounting basis.
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NewsPeople moves: Royal Mail Pensions Trustees chief joins Cartwright
Plus: People’s Partnership appoints marketing director; Schroders Capital names global head of business development and product
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AnalysisAnalysis: How to navigate cyber security crisis management
More than 400 pension funds using Capita’s services should check whether their scheme’s data could be affected
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Pensions key in E13.5bn bid for Marks & Spencer
UK – Pensions are at the top of a list of information sought by retail tycoon Philip Green as part of his nine billion-pound (13.5 billion-euro) takeover bid for Marks & Spencer.
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Special ReportUK: Labour government seeks continuity with focus on boosting domestic investment
The Department for Work and Pensions will have its work cut out as the new Labour government starts a comprehensive pensions review
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NewsAviva Staff Pension Scheme agrees £875m buy-in with Aviva Life
The scheme has now secured the liabilities of more than 27,000 members
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People moves: Former Redington chief takes multi-assets CIO role at Newton
Newton, Heimstaden, Janus Henderson, MetLife, Nikko AM, AustralianSuper, BaFin, ESMA, Natixis, AP3, LD Pensions
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M&S pension trust picks Northern Trust for DB asset servicing
The £11bn DB scheme for the supermarket chain will receive global custody, financial reporting and analytical services
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Lord Myners obituary
‘He was tireless, and was happiest when his diary was full, which it was almost constantly,’ says Cevian’s Zimmerman
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NewsUK roundup: M&S, Hymans, L&G, Avon, Record Currency Management
Marks & Spencer launches master trust to replace existing DC scheme in run-up to auto-enrolment.
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AP7, KLP join retailers in urging Brazil to throw out Amazon bill
Proposed law would “encourage further land grabbing and widespread deforestation”, says Norwegian pension fund
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NewsDe-risking deals totalled £17.6bn in H1: LCP
Legal & General and Pension Insurance Corporation dominated the market for buy-ins and buyouts in the first six months of 2019, and the total for the full year is set to be a record
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M&S tops up de-risked pensioner liabilities with £750m set of buy-ins
80% of retail scheme’s pensioner liabilities are now insured
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Buyouts: Philip Green’s M&S venture
Philip Green, a British retail billionaire, is perhaps best-known for the controversy surrounding the pensions deficit of his defunct BHS high street chain
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