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United Utilities pension funds secure £1.8bn buy-in deal with Legal & General
L&G provided a bespoke price lock to the assets held by the schemes
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United Utilities scheme allocates to private debt after ‘positive’ valuation
Fund to decrease reliance on internal inflation hedging mechanism, explore further de-risking options
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United Utilities to set up DC fund to match income-drawdown retirement option
DC pots reaching landmark £100,000 size making drawdown viable for retiring members
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United Utilities to shift asset allocation as scheme remains on funding course
Pension fund considers private debt, real estate, but wary of infrastructure
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United Utilities slashes deficit with DB changes
UK – United Utilities claims it reduced its pension deficit by approximately £90m (€104m) through a number of changes to its defined benefit (DB) schemes.
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UK’s biggest union fights DB closures at water and car companies
Anglian Water, United Utilities, Bentley all considering changes to pension arrangements
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Thames Water crisis: Investors dive deep into water sector’s future prospects
UK ministers are discussing temporary nationalisation of Thames Water as investors and the government braced for the potential collapse of the firm
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UK pension funds split on Dutch proposal to penalise underperformance
Pensions Trust says performance fees could learn from bonus structure, while United Utilities scheme warns of misalignment of objectives
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Sarah Bates named new chair of John Lewis Partnership scheme
Bates replaces Dame Jane Newell, who like Bates has been involved with several UK pension schemes
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People moves: GAM names new group chief
Plus: Vontobel appoints co-CEOs; Aviva recruits environmental sustainability director
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'Huge' cost hike could spell closure for last FTSE 100 DB schemes
Ongoing defined benefit costs could double over next three years, says consultancy
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UK roundup: £46bn public sector pool appoints Northern Trust
Plus: London CIV’s latest mandate launched; Water industry regulator on dividends v pension contributions debate
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Natural Capital: Back to the land
Natural capital solutions reduce harm to essential ecosystems but investors need to be convinced they can feel the benefits as well
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UK: Funding challenges amid continued market uncertainty
The UK’s pension regulator emphasises the need for schemes to focus on long-term planning, transparency and risk management
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New trustee chairman named at UK’s Royal Mail
UK – Jane Newell is to take over from Roy Chapman as chairman of Royal Mail Pension Trustees Ltd., which oversees the 12 billion-pound (18 billion-euro) deficit-hit Royal Mail pension scheme.
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UK: Consolidation remains controversial
Guidance on the long-awaited legislation setting out a regulatory framework for superfunds is finally released
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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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Little red box full of radical tricks
Every spring, the UK chancellor presents the public with a red box full of tricks, setting out the government’s economic plans. While pension tax relief has often been tinkered with, this year George Osborne announced a wide-ranging reform of the defined contribution (DC) at-retirement system, the implications of which will be far-reaching.
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Royal Mail scheme chairman joins Synesis
UK – Jane Newell, chairman of the £21bn (€31.3bn) Royal Mail Pension Plan, is to join the board of new pensions annuity firm Synesis Life as a non-executive director.
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Wednesday people roundup
GLOBAL – Mercer, Muse Advisory, Capita Hartshead, Investment Solutions, Lyxor Asset Management, RBC Dexia Investor Services, BlackRock, VAIÖ