Noticeboard PEOPLE MOVES
Pan Trustees has strengthened its legal, regulatory and governance expertise by appointing Jon Walters as an independent professional trustee.
The lawyer has spent almost 20 years advis- ing trustees and spon- sors of defined benefit and defined contribu- tion schemes. Walters
(pictured) joins from law firm Eversheds Sutherland. David Butcher has been named as a trus- tee of workplace pension scheme The People’s Pension. He joins six other trustees in overseeing the running of a scheme that manages almost £18bn for one in five workers in Britain. Butcher brings more than 40 years of pensions and investment experience to the organisation having sat on 16 trustee boards, including the Legal & General Master Trust. He has also been a non-ex- ecutive director of BlackRock Pensions.
NOTICEBOARD
Phoenix Group has invested £90m in a social housing specialist as part of a £100m funding round. The insurer invested in Alliance Homes, which is a regulated social housing pro- vider, in a deal that brings its exposure to social housing to more than £2.5bn. Alliance will use the funding to build around 2,000 affordable homes in Som- erset over the next 10 years. The capital will also decarbonise its existing housing stock. Defined benefit scheme insurer Pension Insurance Corporation has completed a £600m buyout of a retirement plan for department store workers. The deal cov- ers 3,850 deferred members and around 5,000 pensioners in the House of Fraser Beatties & Jenners Pension Scheme.
10 | portfolio institutional | July–August 2022 | issue 115
He will work with Chris Fagan who has been appointed for a second term on the trustee board. B&CE, the organisation behind The Peo- ple’s Pension, has strengthen its strategy board with the appointment of Veronica Oak. She has 10 years of experience of financial services, specialising in marketing. The Pensions Regulator (TPR) has started its search for a new chief executive after Charles Counsell announced that he will not seek a second term. Counsell (pictured) will relinquish the role when his four-year term ends in March next year. He has given 10-years of service to
the regulator, which included being responsible for the roll out of auto-enrolment.
TPR has also welcomed two non-execu- tives to its board. Mandy Clarke and George Walker have been appointed on five-year terms. They replace David Mar- tin and Robert Herga.
The sponsor, House of Fraser, has been in administration for four years and the scheme has been under the stewardship of the Pension Protection Fund since. The deal provides more certainty for the members and will ensure they receive higher benefits.
Elsewhere, the trustees of the pension scheme for the employees of international services company Barnett & Hall have completed a full scheme buy-in with L egal & General. The £21m deal secures the benefits of 110 scheme members, five of which are pensioners. Barnett & Hall is a subsidiary of W&R Barnett, a fourth-generation family busi- ness established in 1896 that is a holding company for trading, storage, agribusi- ness and industrial companies. The deal is the scheme’s first pensions
CALENDAR
Topics for confirmed upcoming portfolio institutional roundtables: July
– Responsible investing September
– Defined contribution October
– Infrastructure
November – 2023 outlook
The Society of Pension Professionals, an industry body for ser- vice providers and advisers, has appointed Steve
Hitchiner (pic-
tured) as its next president. His two-year stint started in June when James Riley’s term ended. Hitchiner will focus on outcomes for DC members and influencing policy.
risk transfer with Legal & General, which will now work with the trustees to take the scheme towards buyout. Investment consultant Redington has selected an environmentally focused offering to help the members of its defined contribution pension scheme to decarbonise the global economy. The scheme’s default fund will now offer savers exposure to Ninety One’s Global Environment Fund, which is managed by Deirdre Cooper and Graeme Baker. The fund invests in companies that are driv- ing the transition to a low carbon world. Global Environmental was added to the scheme’s offering following a review of Redington’s default investment strategy. The fund will be available to all members, no matter where they are on their retire- ment plan, from accumulation to drawdown.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52
