Press Releases

Commenting on the impact to the Pension Market following last week’s mini-budget, David Walker, Chief Investment Officer, Hymans Robertson says:

“This week’s unprecedented intervention from the Bank of England leading to the purchase of £5bn long-dated UK government bonds, highlighted the material risk to financial stability posed by dysfunction in the gilt markets, and the threat to UK financial stability..."

Commenting on the recommendations on how to solve the Gender Pensions Gap in the Work and Pensions Select Committee’s reporting on its Saving for Later Life Inquiry, Chris Noon, Partner, Hymans Robertson, says:

“We are very pleased to see that the Work and Pensions Select Committee has recognised the importance of reducing the inequality of the widening the Gender Pensions Gap. It is good to see them making the recommendation that the Government consider the case for moves such as a carer’s credit to their auto-enrolment pension. It is rightly also holding the Government to account by stating that ‘if it chooses not to do so, it must explain its alternative plan to address the gender pension gap mainly caused by labour market inequalities.’"

The combined reserves of the largest 40 charities in England & Wales that sponsor DB pensions schemes fell to £39.5bn in 2022 from £46bn in 2021. As the economic uncertainty continues this fall makes it more difficult for charities to fund their pensions deficits, according to analysis by Hymans Robertson. In the face of this fall, and as the sector faces potential difficulties with rising inflation and an economic downturn, charities need to consider how best to fund their pension schemes.

Hymans Robertson is today launching its 2022 national assessment gauging levels of knowledge and understanding in the LGPS. The leading pensions and financial services consultancy’s National Knowledge Assessment follows the success of its 2018’s National Confidence Assessment, and 2020 National Knowledge Assessment and provides LGPS funds with a clear insight into the knowledge levels of their key decision-makers on a national basis.

The ESG (Environmental, Social and Governance) capabilities of insurers, particularly those that cover bulk annuities, continues to move up the priority list that DB Trustees are looking at when assessing buy-in and buy-out risks, according to a new report by Hymans Robertson. The leading pensions and financial services consultancy warns, that while it is good to see that Trustees are looking at this area, they must be sure that they have a critical understanding of the role of ESG when their DB pensions scheme is targeting buy-ins and buy-out, to gain full benefit for their schemes.

Industry experts from Hymans Robertson give their comments and feedback on the key annoucements from the 2022 mini-Budget speech.

Hymans Robertson will launch its latest nationwide LGPS assessment of knowledge and understanding, one week today, on 28 September. The National Knowledge Assessment is an opportunity for LGPS funds to assess the knowledge levels of key decision-makers and compare these on a nationwide basis.

Nearly half of all DB pension schemes (45%) submitting valuations in 2021 lengthened their recovery plan end date, compared to just over a third (35%) the year before, according to the latest benchmarking analysis from Hymans Robertson. The first report on valuations post Covid-19, found that while markets recovered quickly from the initial shock of the pandemic, challenges remained.

Research undertaken by the leading pensions and financial services consultancy also reveals that the average recovery plan length has increased to 6.4 years from 5.9 years in 2021. Nevertheless, the recent rises in gilt yields are likely to have brought some good news for schemes with less hedging in place.

Hymans Robertson is pleased to have been listed as a signatory to the UK Stewardship Code for a second year. The acceptance of the leading pensions and financial services firm onto the list marks its continued commitment to advancing the importance of stewardship on client agendas, along with their stewardship capabilities.

LGPS funds should expect to see positive improvements in funding level at the 2022 valuation, reveals Hymans Robertson, as it publishes analysis to help LGPS funds better understand their 2022 valuation results. Following a review of whole fund results, the analysis from the leading pensions and financial services consultancy, outlines the common trends which are emerging, while considering the current economic challenges in relation to inflation.

Commenting on the Local Government Pension Scheme (England and Wales) consultation: ‘Governance and reporting of climate change risks’, Philip Pearson, Head of LGPS Investment said:

“We welcome the publication of DLUHC’s consultation on the governance and reporting of climate change risks for LGPS Funds in England & Wales. This provides clear direction for Funds on the steps they will need to take to further develop their approach to addressing and reporting on climate change risks..." 

Private Markets managers are failing to provide their clients with the information they need to effectively manage climate risks, according to recent research by Hymans Robertson. The leading pensions and financial services consultancy warns that this lack of data has significant implications for both DB and DC pensions schemes’ ability to meet their governance and reporting obligations under TCFD.