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UK roundup: British American Tobacco scheme completes £250m buy-in deal
Plus: NEST ends admin contract with Atos
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UK roundup: NEST to trial opt-out approach for emergency saving
Plus: British American Tobacco derisking, River and Mercantile fiduciary assets retention
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Dutch pension funds increase interest rate hedge above 70%
In the run-up to the transition to a defined contribution system, pension funds in the country want to protect their funding ratios
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UK roundup: NAPF, Daily Mail, British American Tobacco
NAPF welcomes approval from upper house of parliament on new pensions regulation.
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Dutch pension funds return -23% on average in 2022
The company pension fund of beer brewer Heineken did best, limiting losses on its investments to 9.3%
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Netherlands: First funds prepare for DC switch
Despite pre-election threats, the transition is not expected to be rolled back by the new government
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Tobacco giant seals £3.4bn pension de-risking deal with PIC
Transaction accounts for the bulk of British American Tobacco’s UK DB pension fund, and is Pension Insurance Corporation’s biggest deal to date
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De-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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LCP sees Dutch schemes’ returns close to 30% in 2019
Pension funds’ combined assets rose by €240bn to €1.56trn
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Netherlands: Pension funds to switch to DC by 2028
Long-awaited transition to happen despite complications of the Dutch pension system
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BAT scheme cuts trustee numbers to relieve sponsor
Several other pension funds have also decreased the number of board members
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HSBC pension scheme strikes £7bn longevity risk transfer
Deal with Prudential Financial is the second-largest longevity swap completed by a UK pension plan after the BT Pension Scheme’s £16bn deal in 2014
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More schemes leave Conduent for new providers
US provider has reportedly exited the Netherlands, with five schemes having been forced to find replacement providers
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Netherlands roundup: Parliament demands cost review of new pensions system
Also: €857m company pension scheme plans to consolidate into a general pension fund, posing problem for administration provider
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Rothesay breaks another record with £3.8bn buy-in
The deal secures benefits for 27,000 former employees of UK drinks company Allied Domecq’s DB scheme, and is the biggest buy-in to cover both retired and deferred members
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BAT pension is latest to sue State Street
[13:00 CET 22-12] NETHERLANDS - The €450m Dutch pension fund of British American Tobacco is suing State Street Bank and Trust for losing €39m of its assets through the collapse of bank Lehman Brothers.
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PepsiCo, Makro find new providers as Conduent exits Netherlands [updated]
Pension funds PepsiCo and Makro to follow Yara away from the administrator as it plans to exit the Netherlands
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BAT taps SWIP for bonds
UK - The British American Tobacco UK Pension Fund has selected Scottish Widows Investment Partnership to manage a 165 million-pound (248.8 million-euro) mixed bond mandate.
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Top 1000 Pension Funds 2024: Pensions back at a sweet spot
Assets for the leading 1000 European pension funds grew by 8.7% year-on-year, reversing last year’s loss of 6.8%. This brings total assets back up to above their previous high water mark of €9.7trn in 2022’s research exercise. This year’s overall net gain in assets of €775bn is the largest since 2021’s increase of €810bn.
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Case Study: Local Pensions Partnership
LPP’s Richard Savage describes his approach to running an in-house global equities portfolio