News in brief – 23 October 2020

Punter Southall has established Stoneport, a small defined benefit (DB) pension scheme consolidator.

The firm said that the “industry-first” small DB scheme consolidator could enable cost savings in excess of £40bn if all small UK DB schemes were to adopt its approach. Launched this week, Stoneport targets running cost, investment management and end-game efficiencies, as well as improving governance standards. Punter Southall said the small (less than 1,000 members) DB schemes entering the consolidator would increase the chance of members receiving their benefits in full to more than 99 per cent. Its actuarial, administration and investment advisory services are provided by Barnett Waddingham.

Hymans Robertson has launched a new range of strategic asset allocations (SAAs) for Investment Pathways.

The SAAs are designed specifically to meet the needs of consumers in each of the four Financial Conduct Authority Investment Pathways. The Investment Pathways SAAs aim to allow providers to offer investment strategies that will meet the requirements of the investment pathways and help ensure consumers are invested in a way that meets their needs. They are designed to meet the specific objectives suitable for each of the four Investment Pathways and can be customised by providers to reflect their business and the profile of their customers.

Legal & General (L&G) has announced £200m in funding for the Oxford University innovation centre for life and mind sciences.

L&G will fund and deliver the building as a home for the university’s zoology, plant sciences and experimental psychology. Legal & General entered into a £4bn partnership with the University of Oxford in June 2019, forming Oxford University Development. The scheme will be funded by long-term annuity money from L&G’s retirement business, with L&G Capital acting as developer and LGIM Real Assets as development manager.

    Share Story:

Recent Stories


A changing DC market
In our latest Pensions Age video interview, Aon DC senior partner and head of DC consulting, Ben Roe, speaks to Laura Blows about the latest changes and challenges within the DC sector

Being retirement ready
Gavin Lewis, Head of UK and Ireland Institutional at BlackRock, talks to Francesca Fabrizi about the BlackRock 2024 UK Read on Retirement report, 'Ready or not. How are we feeling about retirement?’

Podcast: Who matters most in pensions?
In the latest Pensions Age podcast, Francesca Fabrizi speaks to Capita Pension Solutions global practice leader & chief revenue officer, Stuart Heatley, about who matters most in pensions and how to best meet their needs
Podcast: A look at asset-backed securities
Royal London Asset Management head of ABS, Jeremy Deacon, chats about asset-backed securities (ABS) in our latest Pensions Age podcast

Advertisement Advertisement