For the first time since March 2020, the Bank of England’s Monetary Policy Committee decided to cut interest rates by 0.25% to 5% in August. Read more here on the latest decision and our overall outlook for the UK economy.
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.
The polls were right – today the UK woke up to a new Government. The Labour party secured a landslide victory. Read our comments on the immediate market reaction and what future corporate activity could look like here.
The UK General Election will take place on July 4th. We share our reaction and expectations on fiscal and monetary policy, as well as what this will mean from a UK pensions policy perspective.
On 9th May, the Bank of England’s Monetary Policy Committee again voted to maintain interest rates at 5.25%. Notably, the vote was split (7 to 2) with a minority of MPC members voting for a rate cut to 5.00%. Read our thoughts here on the latest decision and the updated economic forecasts.
The measures that the Department for Work & Pensions (DWP) and the Government are proposing would “open up” the DB market and make other options more achievable. Read our thoughts on the Options for Defined Benefit consultation here.
The Bank of Japan ended its 8-year regime of negative interest rates, abolished yield curve control (YCC), and phased out purchases of risk assets. David Goldberg, Investment Strategist, gives his thoughts on the market outlook and what the shift in policy means 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, the Bank of England’s Monetary Policy Committee voted to maintain interest rates at 5.25%. Shweta Singh, Chief Economist at Cardano, shares thoughts on today’s announcement and what it means for the outlook for UK monetary policy next year
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.
