UK Archives - Page 61 of 188 - Pension Policy International

21NovNovember 21, 2023

Britain to launch growth funds to attract pension pot cash

The British Business Bank (BBB) will set up a new fund for pension schemes and asset managers to invest in growth companies, part of wider reforms to unlock savers' cash to boost the economy, the UK finance ministry said on Tuesday. Britain wants to encourage pension schemes to switch from a heavy focus on bonds and global blue chips to putting a portion of their cash in UK growth companies, a step it says would help improve returns for investors. The...

November 21, 2023

NewsInvestment, Regulation, UK

17NovNovember 17, 2023

Knowledge Of ESG, Integration and Greenwashing Remains Low

Determining how best to incorporate environmental, social and governance factors across the investment portfolio continues to be a challenge for institutional investors, said Bonnie Treichel, founder and chief solutions officer at Endeavor Retirement, during the “Surveying the Landscape” session of CIO’s ESG livestream this month. Not Just a Label “How do people really understand this?” Treichel asked. “It’s really hard, because a lot of times, I’ll ask the question about ESG and an investment lineup, and the perspective that I hear...

November 17, 2023

NewsESG, Investment, Pension Management, UK

16NovNovember 16, 2023

UK pension regulator outlines challenges and plans for scheme transformation

Louise Davey from The Pensions Regulator (TPR) addressed the complex issue of pension decumulation during an ABI webinar Today. She outlined TPR's strategy to transform UK pension schemes into full-service providers that support savers from the accumulation phase through to retirement. Davey highlighted the limitations of current trust-based pension schemes and underscored TPR's support for the Department for Work and Pensions (DWP) proposal to mandate these schemes to offer decumulation products and services. She emphasized the evolution of the UK...

November 16, 2023

NewsRegulation, supervision, UK

15NovNovember 15, 2023

U.K. names new pensions minister

Paul Maynard was named U.K. pensions minister following a reshuffling of the government. Maynard was appointed Nov. 13 as parliamentary undersecretary of state at the Department for Work and Pensions, according to a notice on the government's website. Read also UK pension funds step in to build affordable homes His previous ministerial role was as parliamentary undersecretary of state at the Department for Transport, a role he held between July 2019 and February 2020. Maynard is member of parliament for Blackpool North and...

November 15, 2023

NewsRegulation, UK

14NovNovember 14, 2023

UK. ESG: Biodiversity And Nature Risks For Pension Schemes

While climate risk has increasingly been at the top of the agenda for trustees in recent years, biodiversity and nature risk has occasionally been overlooked, despite the serious financial implications stemming from these issues. The World Economic Forum's Global Risk Report 2023 cited "biodiversity loss and ecosystem collapse" as the fourth most significant global risk over the next ten years. In light of this, pension regulators are focusing their attention on biodiversity risk management.  A guide recently produced by...

November 14, 2023

NewsClimate crisis, ESG, Risk, UK

13NovNovember 13, 2023

UK pension funds step in to build affordable homes

The UK’s pension funds are increasingly stepping in to build affordable homes as the housing crisis worsens. Pension Insurance Corporation (PIC), a specialist insurer of defined benefit pension schemes, is the latest to enter the market. It is building 125 affordable homes in Kingston upon Thames, south-west London, in partnership with the developer London Square and its affordable housing subsidiary, Square Roots The £50m project, which is due to be completed by November 2025, is backed by a £4.9m grant from the...

November 13, 2023

NewsESG, Investment, UK

10NovNovember 10, 2023

UK. DB pension surpluses remain broadly stable

Defined benefit (DB) pension surpluses remained broadly stable during October, registering a slight decrease, but remaining elevated compared with recent years, according to XPS Pensions Group’s latest DB:UK funding tracker. The consultancy's tracker tool estimated that the aggregate surplus of UK pension schemes, when measured on a long-term target technical provision basis, stood at about £184bn on 31 October, which translates into an aggregate funding level of 115 per cent. A moderate 0.1 per cent rise in long-term gilt yields led...

November 10, 2023

NewsDefined Benefit, UK

09NovNovember 9, 2023

UK pensions minister urged to encourage schemes to invest in sustainability

LCP and Pensions for Purpose have written an open letter to UK pensions minister Laura Trott calling for investment in social and environmental sustainability and for intergenerational inequality to be at the heart of planned pension reforms. In July’s Mansion House speech, the chancellor of the exchequer Jeremy Hunt introduced a number of measures aimed at unlocking the growth potential of UK defined benefit (DB) schemes. LCP and Pensions for Purpose are urging the government to encourage pension schemes to invest more in areas...

November 9, 2023

NewsESG, Investment, Regulation, UK

08NovNovember 8, 2023

UK. Pensions notably excluded from King’s Speech

Speaking at the 2023 State Opening of Parliament this morning, the King did not mention any new pensions legislation to build on chancellor Jeremy Hunt's Mansion House reforms announced earlier this year. Reforms included the creation of the Mansion House Compact, alongside several consultations on issues such as defined benefit (DB) superfunds, deferred small pots, collective defined contribution and a value money for money framework. ‘Disappointed' The pensions industry has aired its disappointment over the lack of mention of pensions in the monarch's first King's Speech. Aegon pensions director Steven Cameron...

November 8, 2023

NewsInflation, Regulation, UK

07NovNovember 7, 2023

British pensions could invest 1.2 trln pounds in climate projects, with policy help-report

Britain's pensions industry could invest up to 1.2 trillion pounds ($1.5 trillion), half the capital needed by 2035 to put the UK on track to its net-zero goals, if there were more attractive projects and fewer regulatory barriers, a report on Tuesday showed. The UK pensions industry currently invests 4% of its assets in "climate solutions" and is on course to invest just 300 billion pounds by 2035, according to research from British life insurer Phoenix Group and campaign group...

November 7, 2023

NewsClimate crisis, Regulation, UK

November 2023