Press Releases

“We welcome this innovation from M&G. With many schemes considering their preferred endgame, weighing up the merits of maintaining access to an anticipated emerging surplus against the risks associated with not settling, there will be many cases where trustees and sponsors have different views...

Our analysis reveals that the appeal of CDC is clear. Nearly a third (29%) said that ‘protection against members exhausting their pension pot in retirement’ was an appealing feature of CDC. A quarter (25%) said the attractiveness comes from CDC schemes providing higher pensions for members from the same contribution amount. Another big advantage of CDC is seen to be the reduced burden of decision making for members at, and throughout, retirement (stated by 23%) which contrasts the current labyrinth of options in DC schemes. 

Since the beginning of 2023, Master Trust members across all life stages have benefited from more favourable market conditions, amidst falling inflation, higher than expected global growth forecasts, and falling yields.

The report from the leading pensions and financial services consultancy looks at three sample members, and how their retirement outcomes have changed over the last five years.

Superfunds have come of age, says Hymans Robertson as the firm releases its latest report. Completed deals over the past two years have helped to build understanding and confidence for future transactions with the market perceptions of superfunds transformed. The report argues that opinions have shifted from widespread scepticism to a place where superfunds are widely viewed as a valuable addition to the market.

Lara has vast experience and knowledge of the risk transfer market and joined Hymans Robertson in 2022 as a Partner.  She was previously at Scottish Widows where she was Head of Origination and Operations for their bulk annuity team.  During her career she has played a central role across a range of risk transfer transactions including a £30m buy-in for the Andrews Sykes Pension Scheme and leading the Scottish Widows’ role in £15bn of longevity swaps for the Lloyds Bank Group Pension Schemes.

“We support the Chancellor’s drive for scale and consolidation of lower value legacy default pensions. Larger arrangements provide better value for members and scale is becoming increasingly important in accessing the most attractive investment opportunities for DC pensions scheme savers...

“Firstly, in regard to pooling. We believe this should be completed as quickly and extensively as possible, where it’s achieving clear benefits for LGPS funds but with sensible exceptions where moving assets would incur unnecessary cost or waste. There is then the expectation that the pools will then have complete control over the implementation of those strategies, and management of all assets, with funds only able to set very high-level investment objectives, and maybe a strategic asset allocation if they want. This is a monumental change for the funds and likely unpopular. Requiring the Administering Authorities to take advice on setting investment strategy from the pools, who will then implement the strategy, we believe introduces a potential conflict of interest and may lead to sub-optimal strategies that ultimately cost the LGPS...   

Rohan has more than 10 years’ experience in the GI industry in areas including energy, utilities and automotive. He also has substantial expertise in business transformation and operational efficiency. Before joining Hymans Robertson, he worked at PWC and, most recently, Willis Towers Watson where he supported clients with pricing, predictive analytics, enterprise risk management, qualitative and quantitative risk analysis, and long-term forecasting.  

Harsh joins Hymans Robertson with over five years of industry experience, most recently at KPMG. He has also held positions at Kuwait Reinsurance Company and Willis Towers Watson. His expertise spans across risk management, reinsurance, and strategy. 

“We support the Chancellor’s drive for scale and consolidation of lower value legacy default pensions. Larger arrangements provide better value for members and scale is becoming increasingly important in accessing the most attractive investment opportunities for DC pensions scheme savers...

In April 2024, the Teachers’ Pension Scheme (TPS) and Scottish Teacher’s Pensions Scheme (STPS) costs increased by c.20% for TPS and c.11% for STPS. Benefits earned by teachers remain unchanged; in essence schools are now paying more for their teachers to receive the same benefits. The latest statistics suggest that many independent schools have already started assessing their pension options.

“US equity markets surged yesterday as investors were buoyed by potential tax cuts and a lighter-touch approach to regulation under a Trump presidency. Treasury yield also rose sharply, adding to October's rise, as both stronger near-term growth and potential inflationary pressures from trade tariffs and a crackdown on migration, led to expectations that interest rates might stay higher for longer. US bank stocks, in particular, rose strongly on the back of higher-for-longer rate expectations and looser regulations, with the oil and gas sector also benefitted. The Japanese yen, euro, Mexican peso all fell. The Japanese equity market benefitted from yen weakness while European markets sagged in anticipation of more difficult trading conditions ahead for some of the region’s largest manufacturers, with German autos particularly exposed...