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Rethink Pensions archive

Rethink Pensions archive

Past thought leadership from our pensions team.

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February 2019 Edition

The new DB pensions funding code: 'comply or explain'

Can TPR satisfy Goldilocks and get the balance ‘just right’?

TPR's "Clearer, Quicker, Tougher" approach in practice

More than a year has passed since the Pensions Regulator (TPR) revised its regulatory approach for defined benefit schemes, we discuss how TPR’s approach has been evolving.

TPR and transactions under the spotlight

Proposed new TPR powers will bring major changes to how pension plans are treated in M&A deals.

What does Brexit mean for Pensions?

Companies should not overlook UK pension obligations in their Brexit planning.

Don't let the 2019 LGPS valuation sneak up on you

How can you engage with the LGPS valuation process and deliver the best outcome for you. 

January 2019 Investment Advisory market update

Every month, KPMG’s Rethink Pensions newsletter brings you an overview of the key investment market developments. 

 
 

January 2019 edition

Competition & Markets Authority review: Springboard to a better future?

The Competition & Markets Authority’s final report is now in. We explore what it means in the short and long run.

Is the Competition & Markets Authority review relevant to Local Government Pension Schemes?

These are the top two considerations for LGPS funds within the CMA review.

Fiduciary management: The CMA review – a trustee’s perspective

We discuss the impact of the Competition & Markets Authority’s decisions with a professional trustee from Capital Cranfield.

December 2018 Investment Advisory market update

Every month, KPMG’s Rethink Pensions newsletter brings you an overview of the key investment market developments. 

December 2018 edition

Demystifying Responsible Investment

Responsible investment is a trending theme and has seen a spike in interest. This paper addresses common myths about ESG investment.

A day in the life at The Pensions Regulator

David Fairs, Executive Director for Regulatory Policy, Analysis and Advice at The Pensions Regulator, shares insight on what a day in his life at TPR looks like.

KPMG Investment Advisory monthly update
What has been happening in investment markets and what might it mean for your scheme's funding position?

Superfunds given the green light but proposals could restrict the option for some schemes that could really benefit

We welcomed last week’s publication of the proposals for the regulation of financial consolidators or “superfunds” meaning they are now a reality for pension schemes and sponsors. We expect to see some deals complete from Q1 next year. Now clarity is forming – we also expect more superfunds to come to the market.

Autumn 2018: Pensions regulatory round-up

A round-up of topical issues in the pensions arena, including a look at TPRs revised approach, the impact of IORP 2, master trust developments and other news.

KPMG Pensions win 'Software of the Year'  and 'Employer of the Year' awards at the 2018 Actuarial Post Awards

We are proud to win the Actuarial Post ‘Employer of the Year’ and ‘Software of the Year’ awards and be recognised among tough competition in the industry. Our KPMG Fusion® software transformed clients’ approach to risk management and the way in which they run, govern and manage their pension schemes. Find out more about KPMG Fusion®. 

November 2018 edition

2018 KPMG UK Fiduciary Management Survey 

Our 2018 UK Fiduciary Management Survey provides a comprehensive snapshot of the industry for UK pension schemes. The industry continues to receive scrutiny over competition, performance and transparency over fees and value for money for Trustees. 

Guaranteed Minimum Pension Equalisation: Actions for Pension Schemes 

On 26 October 2018, the High Court ruled in the long awaited Lloyds Banking Group case that UK pension schemes need to equalise benefits for the inequality of Guaranteed Minimum Pensions between men and women. 

Collective Defined Contribution (CDC): A third way or a wrong turn? 

It seems there’s never a dull moment in pensions these days, although to some people, consolidation, new regulatory powers and GMP equalisation might not sound enthralling. Now, the DWP has announced a consultation on Collective Defined Contribution (CDC) schemes. 

KPMG Investment Advisory monthly update 

Every month, KPMG’s Rethink Pensions newsletter brings you an overview of the key investment market developments. 

October 2018 edition

Diversified Opportunistic Lending Investment Case

In a low yield market environment, could diversified opportunistic lending be suitable for your pension scheme as a higher returning contractual asset class? 

October 2018 Investment Advisory market update

Every month, KPMG’s Rethink Pensions newsletter brings you an overview of the key investment market developments. 

Market yield update

In our yield update we explore the background to the current rates environment, the drivers of recent movements and situate these in the context of their key relevance to UK pension schemes. 

Private rented sector and the rise of 'generation rent'

The private rented sector can provide an attractive opportunity to generate returns through stable contractual income. 

Recording: Webinar on superfunds

New pension solutions are emerging in the form of financial consolidators or “superfunds”. But, what are they and why should you be looking at them?

September 2018 edition

What does consolidation mean for defined benefit pension plans?

As the old joke goes, ask two actuaries a question and you’ll get three answers. Ask them what consolidation means for DB pension plans and all three answers might be right. 

My predictions for 2019: More consolidation of DC pensions 

Richard Birkin, Head of DC Pensions Advisory, provides an outlook on DC pensions for the year ahead. 

Pension scheme consolidators - a success or failure in the future? 

Tom Seecharan, Head of Pensions Insurance, considers lessons from the past to find guidance on whether consolidation will be a success or failure in the future. 

Old multi-employer schemes in a new pensions world 

Steve Simkins, Head of Public Service Pensions, provides an overview of multi-employer schemes and evaluates their effectiveness in today’s pensions world. 

Pension governance and disclosure is changing

Before formally exiting the EU in March 2019, the UK will need to implement the latest EU pensions directive which will impact the way UK pension schemes operate. 

KPMG Investment Advisory monthly update 

Every month, KPMG’s Rethink Pensions newsletter brings you an overview of the key investment market developments. 

August 2018 edition

Navigating the CMA review

The CMA published the provisional conclusions of its review into the investment consulting and fiduciary management industry on 18 July. 

July 2018 market update

What has been happening in investment markets and what might it mean for your scheme’s funding position

Rethink Pensions: Yield update

The direction of gilt yields in 2018 so far, and the implications for pension schemes.

KPMG Pilot

An online education and modelling tool to help members understand their pension options and make an informed retirement decision.

Equity Journal Q2 2018: Equities rise despite growing geopolitical risk

Is it a bear market or a bull market? Our Equity Journal provides a snappy summary of the current market environment, the drivers behind movements and outlines the issues we believe investors should be mindful of.

July 2018 edition

Trusted insights: will access to financial advice become the norm? 

Transfers are on the rise, with official statistics showing £10.6bn worth took place in Q1 of 2018. This boom has led to concerns amongst employers and trustees.

Responsible investing: a pension scheme member's perspective 

New investment trends emerge constantly, and for trustees it can be difficult to process them all. This makes it challenging to select those that are right for their schemes and members.

Defined Benefit or Defined Contribution – how would members choose their pension benefits? 

In reality choosing pension benefits is not an option available to many people. Paul Moffatt considers what members might choose if a full array of options were availble.  

Promoting a healther pension plan all round

Charlotte Gibson outlines why it is so important for employers to help their workforce understand the importance of actively engaging in pensions early and throughout their individual savings journey.

June 2018 market update

What has been happening in investment markets and what might it mean for your scheme’s funding position?

June 2018 edition

May 2018 market update

What has been happening in investment markets and what might it mean for your scheme’s funding position?

DC investment strategy and its impact on member’s retirement outcome

How well are default options doing at delivering results? 

Inflation hedging: opportunities and challenges

With RPI becoming increasingly discredited, we analyse some competing inflation indices. 

2018 Yield update

The direction of gilt yields took in 2018 so far, and the implications for pension schemes.

May 2018 edition

DB Chair’s Statement: effective member protection – or unintended consequences? 

Sophie Ash, Director at KPMG, discusses the recent White Paper on “Protecting Defined Benefit Pension Schemes”.

Superfunds: a sound choice for members? 

Ray Paygott, Partner at KPMG, interviews Steven Ross, CEO at Ross Trustees Services Limited, on the potential implications of superfunds on pension scheme members. 

Your flight path – a member’s perspective

The decision about how to fund your dream holiday is a very personal one. Likewise, there’s no single answer for a pension scheme. 

Pensions over three decades: a personal perspective

David Fairs, Partner in KPMG’s pensions practice, reflects on his extensive experience of the pensions world. 

April 2018 market update

What has been happening in investment markets and what might it mean for your scheme’s funding position?

April 2018 edition

CMA market review: commentary on working papers 

Ahead of their provisional conclusions in July 2018 and final decisions in March 2019, the Competition and Markets Authority (CMA) are releasing working papers on key issues. The CMA will use the working papers to share its emerging thinking for remedies if it concludes the issue in question requires action. 

Revisiting direct lending

This paper outlines a refreshed investment case for Senior/Unitranche direct lending to predominantly European middle market companies. 

March 2018 market update

What has been happening in investment markets and what might it mean for your scheme’s funding position?

Rethink Pensions: Yield update

The direction of gilt yields in 2018 so far, and the implications for pension schemes.

March 2018 edition

Longevity improvements: where next?

UK pension schemes set aside £250bn to cover the cost of future increases in life expectancy. Could some of this flow back into schemes and help plug the significant deficits many are facing?

Mortality risk: how to deal with the threat to defined contribution members

More people are now opting for the drawdown of their pension over buying an annuity. The downside is that retirees from DC schemes are taking on new risks - including mortality risk.

Living Pension: achieving financial inclusion

How the principles of the Living Wage might be translated across to a Pension benefit design to make it more inclusive than the status quo.  

KPMG Investment Advisory monthly update 

What has been happening in investment markets and what might it mean for your scheme’s funding position?

February 2018 edition

January 2018 market update

What has been happening in investment markets and what might it mean for your scheme’s funding position?

CMA market review – where are we now?

The CMA has received data and now held hearings with key market participants. What are their views on the CMA’s concerns and where might the review be heading?

The role of real assets

For institutional investors looking for real asset exposure, property has long been the main asset class of choice.  We explore real asset alternatives, set out their differentiating factors and explain how they may fit into the wider context for investors.

Market yields in more detail

Bond yields affect the value of virtually all pension schemes’ liabilities. What’s been happening and where might the future take us?

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