Run on

Running on into retirement?
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Category: DC, Private Markets

A private markets fund designed specifically for DC schemes
infrastructure
Category: DC

Infrastructure for good? It's time to get real with your pension

Inspiring DC savers to take more interest in their pensions is crucial.

Solutions bridge
Category: DB

Solutions outlook 2024: What lies ahead for DB schemes?

In this outlook we set out key themes for the year ahead, including renewed focus on credit allocations, hedging, falling longevity and equity derivative strategy.
Waterfall
Category: DB

Core DB strategy: Revisiting assets that pay pensions

All defined benefit (DB) schemes still need to pay pensions as they fall due. What’s the right balance between cashflow-driven and ‘barbell’ investment approaches? And how should schemes’ strategies differ given low-dependency or buyout objectives?
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Category: DB

Constructing buyout-ready portfolios for the endgame
Wave Crashing
Category: Outlook

Active Strategies Outlook UK

Q4 2021 - An introduction to Active Strategies
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Category: DB

Seeking diverse sources of liquidity and return
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Category: DB

Solutions outlook 2023 - What follows an unprecedented year?

In this outlook we reflect on a challenging period for investors and ponder what lies in store for pension schemes in 2023.
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Category: DB

Four ways to make DB strategies even more resilient

We discuss how schemes can navigate a thorny investment landscape – and prepare themselves for buyout.
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Managing LDI portfolio hedges amid volatile markets – an overview

Rising interest rates have lowered future liabilities while decreasing LDI portfolio collateral levels. Here’s how schemes can seek to balance this scenario.
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Category: DB

Endgame portfolios: making the most of CDI
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Category: Outlook

Solutions Outlook 2022

In our 2022 Solutions Outlook, members of the team share their insights on what we believe to be some of the key themes for the year ahead. From CDI and credit markets to inflation, green gilts and equity protection strategies, we discuss some of the most important topics for DB pension schemes this year.
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Category: DC

Our four-step guide to new pension consolidation rules

We’ve put together a four-step checklist with useful tips and guidelines around the new reporting requirements and obligations around pension consolidation.

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Category: DB

Diversified credit: shortening the time to endgame?

We believe diversified credit (or multistrategy credit) can be much more than just a growth asset class. It could help pension schemes to meet their endgame sooner whilst also providing cashflows.
The biggest short
Category: DB

Widening the field for yield
Category: DB DC

Alpha management: Deploying your active risk budget effectively

As the French philosopher Voltaire said, “Uncertainty is an uncomfortable position. But certainty is an absurd one.”

Green gilts
Category: DB

Green gilts

An update on our recent engagement activities and some key considerations for our clients.
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Category: DC

How social media tools can empower and engage pension savers

Giving scheme members a voice on the ESG issues that matter to them can keep them focused on their pensions
Category: DC

Walk this way

Pension savers’ views on the FCA’s Investment Pathways
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Category: DC

Solving decumulation dilemmas

Five years on from Freedom and Choice, the New Romantic generation is dancing towards a decidedly unromantic retirement.
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Category: DC

Pension income: Why drawing down is going up
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Category: DB

Secure income assets: new opportunities for a new decade

DB (defined benefit) pension schemes are progressing along their journey to end-game, with many becoming increasingly cashflow negative and struggling to balance competing requirements for returns and cashflow.
Category: DC

Improving retirees’ withdrawal symptoms

Are savers taking their pension’s pulse regularly enough? We examine a health check that we believe can help investors spend sustainably.
Category: DB

Are secure income assets being overlooked?

As activity in public credit markets has oscillated across our screens, private credit markets have been largely overlooked.
White Pillars
Category: DB

The Consolidator Conundrum
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Category: DC

Could longevity risk affect your DC investment strategy?

Since the Freedom and Choice pension reforms, we’ve moved from a world where most UK retirees bought an annuity, to one where many individuals choose income drawdown. In doing so, they not only bear the risk of changes in the value of their pension but also the uncertainty around how long they will live. This uncertainty over future lifespans is known as ‘longevity risk’.
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Category: DB

Actively diversified: Harnessing multiple return sources

Harnessing multiple return sources

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Category: DB

Should DB Schemes buy into the case for buy-ins?

Buy-ins can be a useful tool in schemes’ armoury as they de-risk into their endgames, but only under certain conditions.

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Category: DC

The power of data science

Ros Altmann, former UK pensions minister, has spoken of the need to “make pensions digital”. The Department of Work and Pensions’ Pensions Dashboard aims to do just that, by collecting and curating information about members’ multiple defined benefit (DB) and defined contribution (DC) pension pots in a single, digital location.

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Category: DB

Any TIPS to manage inflation?

We look at whether TIPS (Treasury Inflation Protected Securities) deserve a greater role within UK defined benefit (DB) schemes’ portfolios.

Category: DB + DC

Board effectiveness: Lessons from companies to trustees
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Category: DB + DC

Material change: a five-step ESG checklist for trustees

How can pension trustees prepare for new requirements on the financial materiality of environmental, social and governance (ESG) factors?

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Category: DB

Managing risk in turbulent times

Four practical steps DB pension schemes can take to help them navigate volatile markets.

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Category: DB

CPI liabilities: the wedge and the hedge

Running RPI-linked assets versus CPI-linked liabilities can pose material risks. But as pension schemes become better hedged – and market pricing becomes more appealing – they may seek to explore CPI-linked assets in greater detail.

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Category: DB

Cashflow Awareness; Transfers out
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Category: DB

Emerging market debt – missing piece of the cashflow matching puzzle

Cashflow matching strategies are customised investment solutions, designed to enable clients such as pension schemes or insurance companies to meet their liabilities. We believe that emerging market fixed income has an important role to play in designing cashflow matching strategies.

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Category: DB

Zombie pension schemes: a viable alternative?

Will it become more common for DB schemes to run off without sponsor support?
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Category: DB

LPI-linked cashflows - how should trustees manage these cashflows?

DB pension schemes typically pay inflation-linked benefits with caps and floors, called limited price indexation (LPI) linked benefits. How should trustees manage these cashflows?

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Category: DB

Factor-based challenges

There are so many elements to consider when building factor-based solutions it can be overwhelming. We’ve highlighted two case studies of investors tackling these challenges.

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Category: DB

Broadening the universe: The strategic case for alternative credit

The falls over the past two years in high yield and emerging market debt (‘alternative credit’) credit spreads,1 along with indications of late-cycle behaviour in the US, has led some investors to be nervous about allocating to these areas. But should pension schemes reconsider?

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Category: DB + DC

Equities for the long run?
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Category: DC Solutions

Making a statement

Most employees take no pensions guidance, which can cause problems after retirement

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Category: DC Solutions

DC Governance: a checklist

Is your scheme following best practice?
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Category: DC

Assessing the key challenges in DC

October marked a significant milestone in DC: five years since the beginning of auto-enrolment.

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Category: Fixed Income

Emerging-market-debt-ratios-opportunities-and-risks
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Category: DB

Raising cashflow awareness

Effective cashflow management for DB pension schemes.

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Category: DB

Longevity risk and its implications for endgame portfolios.

This paper examines how uncertainty regarding future mortality rates and life expectancy, i.e. longevity risk, affects defined benefit pension schemes.

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Category: DB

Collateral damage - Building a safety net

By incorporating leverage, liability driven investment (LDI) strategies have assisted pension schemes in managing the competing capital requirements of hedging liability risk and generating returns to reduce deficits.
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Category: DB

Finding hidden value in your investment governance

The Pensions Regulator is clear in its guidance – all trustee efforts should be focused on achieving one outcome: paying pensions to members of the scheme as they fall due.
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Category: DB

Covenant risk - modelling, managing and mitigating a key risk

Moving schemes towards better glidepaths.

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Category: DB + DC

What is the appropriate level of currency hedging?

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Category: DC

Can better financial wellbeing lead to higher savings?

The DC pensions industry has moved forward since auto-enrolment was introduced, with many more saving into a pension. This is great news, but challenges remain. How do we help individuals see the value in saving more for a future that seems a long way off?

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Der Wert einer Anlage und die daraus erzielten Erträge sind nicht garantiert und können sowohl steigen als auch fallen. Anleger erhalten möglicherweise den ursprünglich investierten Betrag nicht zurück. Die mit den einzelnen Fonds oder Anlagestrategien verbundenen Risiken sollten gelesen und verstanden werden, bevor eine Anlageentscheidung getroffen wird. Weitere Informationen zu den Risiken einer Anlage erhalten Sie in den Fondszentren von LGIM’.