Press Releases

Commenting on the implications for the DC market from the speech given yesterday by Nausicaa Delfas, CEO of TPR on her vision for the Pensions industry, Paul Waters, Head of DC Markets, Hymans Robertson says:

“Nausicaa Delfas’s comments yesterday outlining her vision at the help of TPR were very welcome for the DC market. Her clear focus on a number of key areas that are essential for delivering better outcomes for UK savers in DC pensions were particularly welcome. For us, our clients and scheme members we believe the most important elements she raised were about innovation, a focus on growth and cost over returns, her concerns that the ‘At Retirement’ market is not developing fast enough and the overall challenge for the industry to demand and deliver the best for members...

Hymans Robertson Investment Services (HRIS), a leading DFM, has made five new appointments to its team. Each new team member brings a wealth of experience to their respective roles in either relationship management or portfolio management. They have been hired to help fulfil the needs of the firm’s growing list of clients and to ensure it continues to meet its ambitious growth targets.

Hymans Robertson, the leading financial services consultancy, announces several new appointments to its Property & Casualty (P&C) team – part of the firm’s Insurance & Financial Services (IFS) practice. The team’s expansion is part of the consultancy’s move to broaden its support for P&C clients.

Commenting on today’s interest rate rise from the Bank of England, William Marshall, Chief Investment Officer – Hymans Robertson Investment Services (HRIS) says:

“Inflation in the UK has taken longer to fall from its peak than in other economies such as the US and euro-zone, having only fallen by 1.0% since the peak in October 2022. Although some of this is due to one-off factors such as higher energy and food prices in the region, the fact that core inflation, which excludes these, remained flat at 6.2% in March made it easy for the Bank of England to justify another 0.25% interest rate hike...

LGPS funds in England and Wales experienced an extremely strong 2022 valuation, reveals Hymans Robertson, as it publishes its report LGPS 2022 Valuation: The Big Picture. The report’s aim is to help LGPS stakeholders better understand the funding position of the LGPS and to put individual fund results into context. Following a review of whole fund results, the analysis from the leading pensions and financial services consultancy, outlines the common trends that emerged in relation to contribution rates and funding positions.

Commenting on TPR’s Annual Funding Statement 2023, Laura McLaren, Partner at Hymans Robertson says:

“Significant improvements in DB funding means the 2023 Annual Funding Statement speaks much more to schemes that are well-funded and increasingly close to buy-out. TPR estimates that around a quarter of all DB schemes may now have sufficient assets to buy out their liabilities with insurance companies. This marks an important shift for TPR and schemes as a whole. Overall, the tone of this year’s statement is notably more (cautiously) upbeat than we’ve seen in recent years dominated by COVID-19 and the outbreak of the Russia / Ukraine conflict...

Commenting as the Work and Pensions Select Committee’s Call for Evidence on the Future of DB closes, Patrick Bloomfield, Senior Actuary, Hymans Robertson says:

“We are greatly heartened that the Committee is asking these questions about a potential renaissance in UK Defined Benefit (DB) now, before the new DB funding regulations are finalised. The current draft regulations will exacerbate DB’s focus on insurance and run-off...

Financial service providers are underestimating investor appetite for climate friendly investments, warns Hymans Robertson as it launches its latest report, Climate friendly investments: consumer attitudes and insights. The leading pensions and financial services consultancy claims that this could potentially hinder the speed at which providers could achieve their own net zero goals. It also shows if providers give investors better information about how climate risk is linked to investment risk, they will not only remove knowledge barriers, but also create opportunities. Two key outcomes will be increased climate friendly investing from investors and less friction for providers when it comes to decarbonising their default fund.

Total pension scheme buy-in and buy-out volumes reached £15.8bn in the second half of 2022 states Hymans Robertson in its Half Year Risk Transfer Report for H2 2022. The analysis, from the leading pensions and financial services consultancy, found the unparalleled market volatility over that time resulted in an extremely busy second half of the year with the number of transactions at their highest volume for nearly 10 years.

Over half (54%) of investors who use an adviser do so for peace of mind according to a new report from Hymans Robertson Investment Services (HRIS). This is in contrast to just over a third (35%) who use an adviser for their financial expertise and less than a fifth (17%) because they don’t have time. This prioritisation of peace of mind is in line with the importance that regulations such as The Consumer Duty place on soft factors and brings into sharp focus the need for advisers across the industry to not only focus on how they deliver value for money, but also how they demonstrate it, claims HRIS.

Commenting on the IFS Report ‘Challenges for the UK pension system: the case for a pensions review’, Hannah English, Senior DC Consultant, Hymans Robertson says:

“We are pleased to see the IFS report, “Challenges for the UK pension system: the case for a pensions review” call for a review to tackle the challenge of future generations of pensioners having sufficient income in retirement. Whilst it is encouraging that there’s a clear timeframe to deliver policy recommendations by September 2025, it would be good to see early engagement with, and support from, the government to complete the review. This support from the government will be crucial for the effective implementation of any future policy change...

DB pensions schemes trustees are planning to reduce their training on RI (Responsible Investment) issues with only a fifth (20%) giving it focus, according to research from Hymans Robertson. This change will affect their ability to make informed decisions about investment strategies, potentially leaving schemes significantly exposed to major systemic risks like climate change, and other risks like greenwashing, warns the leading pensions and financial services consultancy.