Press Releases

Commenting on HMRC’s April 2022 GMP Equalisation Newsletter, Matt Davis, Head of GMP Equalisation at Hymans Robertson said:

“The industry will welcome the guidance from HMRC in today’s GMP equalisation newsletter for April 2022. This provides tax guidance for schemes looking at making transfer top-up payments and those investigating GMP conversion. The guidance gives more clarity to many pension schemes as they work through GMP equalisation projects."

More than £250bn of DC pension scheme assets could be potentially used for illiquid investment, with more than £100bn specifically for infrastructure investment, by 2030, according to analysis from Hymans Robertson. Its Illiquid Investment Embracing the Opportunities paper published today, finds that both the pandemic and the government’s levelling up agenda have reiterated the role of resilient supply chains and the need for material investment in infrastructure. Combined with the desire to support Net Zero goals, infrastructure investment presents an enormous opportunity for DC schemes.

Commenting on the DWP consultation “Facilitating investment in illiquid assets by defined contribution pension schemes”, Callum Stewart, Head of DC Investment, says:

“It is good to see the DWPs continued commitment to facilitating investment in illiquid assets with the publication of its consultation today. Investing in illiquid assets provides strong opportunities to improve financial outcomes for DC savers as well as have an impact on the world around us. It is a golden opportunity to create benefits for DC savers, and engage them more positively in how their pension is invested, while at the same time having an impact on the world around them...

Comments in response to the DWP announcement regarding a consultation around new types of collective defined contribution (CDC) schemes

Comments on Government confirmation of commitment to triple lock and the announcement surrounding illiquid assets.

Current high levels of inflation could knock DB Pension Schemes’ endgame strategies off track unless Trustees and sponsoring employers ensure they understand the impact of inflation on their portfolios and the funding implications this may have, Hymans Robertson, the leading employee benefit consultancy, has warned.

Hymans Robertson confirms that total pension scheme buy-in and buy-out volumes reached £27.7bn in 2021, the third highest year on record.

After a slow start to 2021, £20.9bn of buy-ins and buy-outs completed in the second half of the year, the second highest ever total for a six-month period ending on 31 December.

Hymans Robertson, the leading independent pensions and financial services consultancy, has promoted six colleagues to Partner. They become Partner at a time of growth for the firm which now has over 1100 employees.

Those newly promoted to Partner are Laura Blackwood, Robert McInroy, Samer Hafiz, Simon Mortimer, Shirley Brown and Victoria Rolfe.

Companies should take more control of their valuation process as they approach forthcoming triennial valuations warns Hymans Robertson. Nearly two thirds (61%) of pensions scheme professionals at one of its recent webinars reported that the Trustees, rather than the Company, took the lead at the last valuation. The leading pensions and financial services firm cautions, however, that the tougher regulatory regime and enhanced regulatory powers that are now in place mean companies should take the control to get the best outcome and to manage increased regulatory risk.

Half of all the UK’s £2 trillion private sector Defined Benefit (DB) pension scheme liabilities are expected to be insured by the end of 2031 according to Hymans Robertson as it issues its annual risk transfer report today.

Commenting on today’s ‘Levelling Up the UK’ white paper, and the opportunity for illiquid investments, Callum Stewart, Head of DC Investment, says:

"In today’s ‘Levelling Up the UK’ White paper, the government has once again reiterated its commitment to relax DC charge cap rules to help encourage greater levels of investment in illiquid assets. Through the creation of new long-term asset funds, schemes will be able to access investments that could improve returns net of costs and charges over the longer term. The paper is evident of the willingness to explore illiquid investments."