Pensions Aspects Magazine
![Hedging longevity: the implications for your investment strategy](https://www.pensions-pmi.org.uk/media/l3npfmye/pensions-aspects-july-august-2020-assets-pg-22-jpg.jpg?anchor=center&mode=crop&width=860&height=860&rnd=132397984408070000)
Hedging longevity: the implications for your investment strategy
Many pension schemes have managed their liability risks by hedging interest rate and inflation risks through a liability-driven investment (LDI) approach. As a result, longevity risk has grown in significance for many schemes.
Read more![Cashflows, investment return, and risk management: how to juggle your needs without dropping the ball](https://www.pensions-pmi.org.uk/media/wctcwqh0/pensions-aspects-july-august-2020-assets-pg-24.jpg?anchor=center&mode=crop&width=820&height=820&rnd=132397984414270000)
Cashflows, investment return, and risk management: how to juggle your needs without dropping the ball
The impact of COVID-19 means pension scheme funding levels have fallen, covenants have deteriorated, and liquidity requirements have increased. So, schemes need return, risk management and cash more than ever. Some investment strategies force trustees to choose between these competing needs. But meeting cashflow, return and risk objectives needn’t be a juggling act. In fact, combining segregated LDI with CDI is available today, irrespective of client size, simply as a smarter investment solution.
Read more![10 questions with Ian Pittaway](https://www.pensions-pmi.org.uk/media/hdrhcx1z/pensions-aspects-july-august-2020-assets-pg-28.jpg?anchor=center&mode=crop&width=820&height=820&rnd=132397984426300000)
10 questions with Ian Pittaway
What keeps you awake at night as one of the thought leaders in the pensions industry?
Read more![Don’t de-risk for the sake of it: the role of covenant in setting journey plans](https://www.pensions-pmi.org.uk/media/twgbwxe5/pensions-aspects-july-august-2020-assets-pg-30.jpg?center=0.36212728049654891,0.49419197711004131&mode=crop&width=820&height=820&rnd=132397993307900000)
Don’t de-risk for the sake of it: the role of covenant in setting journey plans
High profile pension scandals and insolvencies, increasing select committee focus, and years of guidance from the Pensions Regulator (TPR) all point towards a regime of increased prudence in Defined Benefit (DB) pensions strategies. This new regulatory paradigm was meant to become reality in 2020 with a new funding Code of Practice from TPR backed up by increased powers from the Pension Schemes Bill. But the COVID-19 pandemic is now putting the industry in a difficult position.
Read more![Is the balance of power over scheme investment changing?](https://www.pensions-pmi.org.uk/media/blxftg3t/pensions-aspects-july-august-2020-assets-pg-34.jpg?anchor=center&mode=crop&width=820&height=820&rnd=132397984330130000)
Is the balance of power over scheme investment changing?
Trustees control investment strategy. That has always been a key factor in trustee-employer negotiations. Whilst trustees have to consult the employer about the contents of the Statement of Investment Principles (SIP), they do not have to agree investment matters with the employer. In fact, legislation currently states that investment powers cannot be restricted by requiring employer consent. But is that all about to change?
Read more![Pension Scheme Reporting in the context of COVID-19](https://www.pensions-pmi.org.uk/media/5s5jwzxr/pensions-aspects-july-august-2020-assets-pg-36-jpg.jpg?anchor=center&mode=crop&width=860&height=860&rnd=132397984342330000)
Pension Scheme Reporting in the context of COVID-19
ICAS, ICAEW and PRAG have published new joint guidance on pension scheme reports and financial statements, and related matters in the context of the COVID-19 pandemic.
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