After two years of industry consultation, the Pensions Regulator’s Defined Benefit (DB) Funding Code of Practice was laid in Parliament at the end of July. The Code gives practical guidance for trustees on how to comply with all DB scheme funding requirements. Chris Heritage, Director, and Andrew Stewart, Head of Client Team, share our initial reflections on the new Code here.
TPR’s updated guidance represents a major step forward in the developing market for Superfunds and Capital Backed Arrangements (CBAs), which provide important new options for companies and trustees looking to provide better outcomes for their members in a cost-effective way. Read our reflections here.
Cardano, the investment management and advisory business, today announces the appointment of Jonathan Repp as Director and Sonia Sandhu and Jacob Wooderson as Analysts to expand its Risk Solutions team. This move will enable the Risk Solutions team to address the growing demand in the space and expand its use of technology to enhance data and benefits analytics.
Our view is that the Statement of Strategy is predominantly a risk filter tool for TPR, rather than a risk management tool for trustees. We are concerned that in some areas, the Statement of Strategy asks for more than trustees might otherwise consider, and in other areas, the information required falls short of best practice and we have concerns that trustees may believe they are adequately assessing covenant when all they are doing is providing TPR with data. Read our response to The Pensions Regulator’s consultation here.
Trustees of the Debenhams Retirement Scheme have agreed to enter into a superfund deal with Clara Pensions. Judith Anunda, Head of Alternative Solutions, shares her comments here.
Today, 6th March, the Chancellor delivered the Spring Budget. Commenting on the latest economic forecasts and the impact on companies with defined benefit pension schemes, Shweta Singh, our Chief Economist, and Nick Gibson, Managing Director, comment.
Cardano sponsored Professional Pension’s Key Themes 2024 session. Watch the session on demand as Adolfo Aponte and Jon Loach share top tips for schemes looking to navigate an increasingly busy market.
Cardano, the investment management and advisory business, today announces the appointment of Matt Harrison and Sinead Leahy as Co-Heads of Cardano Advisory.
Today Walgreens Boots Alliance and the Trustee of the Boots Pension Scheme announced a buy-in with Legal & General. This is the largest single transaction ever undertaken in the UK. Cardano acted as the lead broker to the transaction and lead strategic advisor to Walgreens Boots Alliance.
Nick Gibson, Senior Director at Cardano, comments on the government’s plan to change rules around when scheme surpluses can be repaid from today’s Autumn’s statement.
