The UK’s £3.3-billion ($5.6-billion) Merchant Navy Officers’ Pension Fund (MNOPF) is poised to offload the final portion of its defined-benefit liabilities in the old section of the scheme. The fund, which has provided pensions to the shipping industry since 1937, comprises a $3.2-billion new section and a $2-billion old section, closed since 1978 and with
Until a few years ago, every aspect of the investment strategy at the UK’s £20-billion ($32-billion) coal industry pension scheme was outsourced. The main inhouse task at the pension fund was benefit payment but now, in a fresh approach spearheaded by straight-talking 38-year old New Zealander, Stefan Dunatov, the new chief investment officer of the
In a landmark project, the £11-billion ($17.5-billion) Greater Manchester Pension Fund (GMPF), a scheme for 10 local councils and hundreds of small regional employers including schools and charities, will invest in a series of residential housing projects with local authorities. Lauded as a completely new way of funding house building in the city, Manchester council
Despite the constant pull on Railpen chief executive Chris Hitchen’s expertise in other directions, most recently helping to run NEST, the UK government’s new low-cost pension scheme, he is resolute that his primary task is ensuring Railpen, inhouse manager of the £19-billion ($30.4 billion) pension scheme for Britain’s rail industry, successfully delivers on its monthly
The agenda at the United Kingdom’s National Association of Pension Funds (NAPF) annual shindig in Liverpool’s Echo Arena on the banks of the Mersey couldn’t have been broader. From early analysis of auto-enrolment, the biggest shake-up of the industry in a generation and just days old, to life expectancy, Britain’s role in the European Union,
The London Pensions Fund Authority (LPFA), among the largest of the United Kingdom’s Local Government Pension Schemes, is spearheading a bold idea. The £4.2-billion ($6.74-billion) scheme is pushing the notion of combining with London’s other 34 local authority funds into a single, giant scheme. The $32.13-billion superfund would pack more punch as a single investor,
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