Perspectives

Pension risk transfer market: Entering unchartered territory. The UK pension risk transfer market is arriving at a unique juncture, driven by evolving supply and demand factors, regulatory change, and macroeconomic and capital market volatility. The impact on end game strategies could be far reaching.

2022 began with the hope of reduced market uncertainty: COVID-19 has been on the decline, and a general pick-up in economic activity has been observed. In practice, the year is being shaped by macroeconomic and geopolitical headwinds, and against the prospect of stagflation over the horizon.

A corporate transaction can have a material impact on the employer covenant, future funding plans and risks faced by a pension scheme. To help trustees navigate such events, we have produced three short videos for you to watch

Deal-making set to continue despite headwind. Macroeconomic headwinds, compounded by the invasion of Ukraine by Russia, have led to more caution in the M&A market, both in the UK and globally.

ESG Perspectives: A 360° view of key ESG issues and opportunities for corporates in 2022. What does ESG really mean for corporates in 2022? We have teamed up with leading ESG advisors at Hogan Lovells, Georgeson and Kekst CNC to draw together our insights in a guide that provides a 360° response to this question, and to help clients respond holistically to the ESG issues and opportunities they currently face.

The Pensions Regulator (TPR) published its Annual Funding Statement (AFS) setting its expectations of trustees and sponsors for the year ahead. Covenant remains a key focus as trustees are encouraged to focus on current challenges and longer-term risks. Emily Goodridge and Nigel Sillis summarise the key points here.

As schemes get better funded and more mature, the role of the covenant advisor, and how we all think about covenant, needs to change. It’s no longer about a simple rating, on a scale of weak to strong, it’s about the “so what”. To challenge your thinking on this topic, we have produced four short videos for you to watch.

Our model of influence comprises of three key forms of influence, based on how direct an impact these actions have. We believe investors should maximise their influence to achieve real-world sustainability impact.

Tim Denton, explains how setting you long-term objectives is key when planning ahead for your scheme’s end game.

An interview with Justin Hatch, Head of Credit, where he explains more about CDI, navigating credit cycles and what plans are afoot.

Cardano’s Helen Prior explains cashflow matching and how to ensure your scheme has cash available to match beneficiary payments.