Pensions Aspects Magazine

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Cashflows, investment return, and risk management: how to juggle your needs without dropping the ball
17 July 2020

Cashflows, investment return, and risk management: how to juggle your needs without dropping the ball

The impact of COVID-19 means pension scheme funding levels have fallen, covenants have deteriorated, and liquidity requirements have increased. So, schemes need return, risk management and cash more than ever. Some investment strategies force trustees to choose between these competing needs. But meeting cashflow, return and risk objectives needn’t be a juggling act. In fact, combining segregated LDI with CDI is available today, irrespective of client size, simply as a smarter investment solution.

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10 questions with Ian Pittaway
17 July 2020

10 questions with Ian Pittaway

What keeps you awake at night as one of the thought leaders in the pensions industry?

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Don’t de-risk for the sake of it: the role of covenant in setting journey plans
17 July 2020

Don’t de-risk for the sake of it: the role of covenant in setting journey plans

High profile pension scandals and insolvencies, increasing select committee focus, and years of guidance from the Pensions Regulator (TPR) all point towards a regime of increased prudence in Defined Benefit (DB) pensions strategies. This new regulatory paradigm was meant to become reality in 2020 with a new funding Code of Practice from TPR backed up by increased powers from the Pension Schemes Bill. But the COVID-19 pandemic is now putting the industry in a difficult position.

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Is the balance of power over scheme investment changing?
17 July 2020

Is the balance of power over scheme investment changing?

Trustees control investment strategy. That has always been a key factor in trustee-employer negotiations. Whilst trustees have to consult the employer about the contents of the Statement of Investment Principles (SIP), they do not have to agree investment matters with the employer. In fact, legislation currently states that investment powers cannot be restricted by requiring employer consent. But is that all about to change?

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Pension Scheme Reporting in the context of COVID-19
17 July 2020

Pension Scheme Reporting in the context of COVID-19

ICAS, ICAEW and PRAG have published new joint guidance on pension scheme reports and financial statements, and related matters in the context of the COVID-19 pandemic.

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Testing times
17 July 2020

Testing times

The COVID-19 driven crash across return-seeking assets and subsequent bounce (at least at the time of writing), have provided a serious test of pension schemes’ investment strategies. The investment performance across Defined Benefit (DB) schemes has been mixed. As with any crisis – albeit we may still be in the early stages of this one – we can take away some useful lessons.

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