Consolidation – Page 10
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Dutch multi-employer scheme backtracks on consolidation plan
Multi-company schemes have fallen out of favour in recent years with the rise of APFs – Pensioenfonds Pon is the last remaining in the Netherlands
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€3.2bn Delta Lloyd scheme assessing options following NN acquisition
The scheme’s board has decided against merging with NN’s CDC scheme but could move to an APF, stay independent, or opt for a buyout with an insurer
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LGPS Central raises £700m for emerging markets fund
Four local authority funds support emerging markets equity mandate, run by BMO, UBS and Vontobel
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ASR grows consolidation vehicle with €1.2bn pension client
The insurer’s general pension fund’s assets are set to grow to €3.5bn, while its membership will hit 7,000
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Dutch scheme Owase to join ASR’s consolidation vehicle
€900m manufacturer’s scheme will boost Het Nederlandse Pensioenfonds’ assets to €2.4bn, making it the second-largest APF in the Netherlands
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UK government consults on merger of two local authority pension funds
Merger of £492m closed transport authority fund into £15.7bn West Midlands Pension Fund intended to address solvency risks
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News€75bn Australian pension mega-merger kicks off consolidation drive
First State Super and VicSuper deal will create Australia’s second biggest superannuation fund, and three more multi-billion-dollar deals are in the pipeline
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€21bn pension merger back on track as transport sector schemes agree terms
Industry-wide pension schemes for railways and public transport agree to join forces after 2016 discussions collapsed
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LGPS pool targets £10bn with private markets programme
Border to Coast Pensions Partnership has launched a £500m private equity vehicle and a £675m infrastructure fund for its 12 LGPS clients
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CEO of £30bn Brunel Pension Partnership resigns
Dawn Turner was instrumental in setting up the Bristol-based asset pooling company for 10 public pension funds in the local government pension scheme
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UK regulator toughens stance on poorly performing pension schemes
The UK’s Pensions Regulator (TPR) is seeking to accelerate pension scheme consolidation to raise governance standards. In a consultation paper launched today, TPR said it wanted to ensure all pension savers were in schemes with “excellent standards of governance that deliver good value” – which would mean “fewer but ...
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NewsNetherlands roundup: Parliament demands cost review of new pensions system
Also: €857m company pension scheme plans to consolidate into a general pension fund, posing problem for administration provider
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€6.8bn chemical company scheme decides against consolidation
PDN says it is optimally prepared to address developments in the changing Dutch pensions sector
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Regulator voices ‘real concerns’ over small DC schemes
Charles Counsell comments on consolidation, defined contribution and risk management in his first speech after taking over as chief executive of the UK’s Pensions Regulator
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Scildon scheme to join consolidation vehicle Centraal Beheer
Legal & General’s former Dutch subsidiary is to run its own DC fund for staff from 1 October
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Ireland toughens capitalisation rules for DC master trusts
DC master trusts must hold at least €100,000 in reserve regardless of size, according to new requirements published today by the Pensions Authority
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NewsHSBC pension boss to exit for London CIV
Mark Thompson to lead £36bn LGPS asset pool from September, after an eight-year tenure leading HSBC’s UK pension operations
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£45bn LGPS pool appoints quartet of global equity fund managers [updated]
Border to Coast chooses four managers for £4.5bn fund but scraps plan for multi-manager addition; fixed income funds next to be launched
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PGGM’s consolidator vehicle targets closure by year-end
Volo is in advanced talks with other APFs to take on its two clients; Food wholesaler Sligro has targeted an APF to take on its €356m pension scheme
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London pension funds appoint CIO for £36bn asset pool
Former Coal Pension Trustees CIO Michael Pratten moves from insurance company Canopius to take on interim position at London CIV
