In recent times the life expectancy assumption has come to dominate funding discussions between sponsors and trustees. But, how do trustees know when they have received good longevity advice? David Walker advocates looking beyond Europe in order to add a meaningful diversification. It takes a working lifetime to build up enough savings to be able to enjoy retirement the way we want to. If you haven’t started saving yet, an initial health check may help to stir you into action. When financially astute investors start chasing something that others are desperate to get rid of, it is worth asking yourself why? Martin Potter explores why is so much money chasing pensions? In the middle of 2007, things looked rosy for UK pension schemes – albeit briefly. James Mullins considers how 2008 is likely to be a difficult time for trustees who have the unenviable task of managing the finances of their pension scheme. Further to Hymans Robertson's Survey of Absolute Return Bond (ARB) strategies, Stephen Birch discusses that the case supporting their use is strong and that they could become the mainstay of institutional active bond management for UK pension funds. “Please sir, can I have some more?” Oliver Twist may have been referring to his daily gruel when asking for “more” but many companies have recently made a similar request when reviewing their DC fund range. Having learnt from bitter experience, Financial Directors have come to know that changes to longevity assumptions mean only one thing - higher disclosed pension liabilities. Brian Henderson, Investment Consultant discusses whether property is still an alternative asset, or is it becoming 'mainstream'. They may be largely unpaid volunteers, but pension fund trustees are becoming increasingly more powerful figures. Despite this, relatively little is known about trustees and their views about their work. Gail Paterson reviews our recent trustee survey. A common theme in recent years among local government pension schemes has been the desire to explore opportunities for diversifying their investment portfolios as widely as possible. Paul Potter expands. More and more pension schemes are investing in alternative assets, but what areas are classified as ‘alternative’ assets and what do you need to know about the market? Scott Donaldson of Hymans Robertson discusses. Are you bored with the old routine? Looking for a job that will really stretch you? Wanting to play a part in creating a brave new world? If the answer’s “yes” then there’s only one career for you…local government pensions administration! How you motivate employees and align their behaviour with the needs of the business? As you’d expect, there is no easy answer – but total rewards tailored to your employee’s needs is one solution. Paul Waters explains. Choosing the right LDI manager for your scheme, and at the right price, is no easy task. Stephen Birch, Head of Manager Research at Hymans Robertson highlights some of the key areas of comparison across the current providers. |