Everyone’s chatting about ChatGPT and the march of Artificial Intelligence (AI). But what do these technology advancements mean for the pensions industry? Felix Mantz, Director at Cardano Advisory, who leads our AI initiatives, shares his insights.
As recently as last year, Scheme surpluses were not high on most Trustees’ agendas – something to be thought about in the distant future, should they arise. However, recent rapid rises in gilt yields has brought surpluses firmly onto today’s agenda.
This edition of Covenant Quarterly focuses on DEI in pension scheme boards. It also looked at the rising insolvency cases, the potential impact of collective defined contribution schemes and the 2023 Annual Funding Statement
The importance of DEI in pension scheme trustee boards is gaining momentum. We recently held a roundtable event to discuss the topic in more detail and to explore the results from the DEI survey we conducted in partnership with mallowstreet.
The Annual Funding Statement appears to factor in some of the feedback on the draft Funding Code, providing more nuanced commentary on covenant and integrated risk management.
Emily Goodridge and Christopher Heritage summarise the key points here.
In line with expectations, the Bank of England once again raised interest rates on 23rd March. This is the 11th successive increase with rates now at their highest level since 2008 at 4.25%. The recent collapse of Silicon Valley Bank and the emergency purchase of its UK subsidiary by HSBC, not to mention the Credit Suisse turmoil, serve as a timely reminder that the impact of the rapid rise in interest rates globally has not yet been fully appreciated.
The latest covenant quarterly contains an overview of TPR’s draft funding code, a datawatch look at gilt yields, how covenant and investment strategy could be linked and solvency II reform.
At the end of 2022, The Pensions Regulator published its long-awaited draft Funding Code and consultation. We explore what the changes mean for pensions trustees in four short videos. Watch them to to find out more.
The events of Q4 2022 have been a timely reminder that, no matter how well funded their defined benefit (DB) pension scheme, pensions risk is still very much a risk to the business (the sponsoring employer) that sits behind it.
Covenant: Don’t get caught out by regulatory changes. 2023 is likely to be the biggest year for regulatory change in the defined benefit (DB) world since 2014 (the implementation of the Funding Code of Practice 03), or even since the Pensions Act 2004.
