Industry professionals believe retirement collective defined contribution (CDC) schemes will have a materially positive impact on savers, according to polling from the Society of Pension Professionals (SPP).

The poll, conducted during an SPP webinar attended by more than 200 pensions professionals, found that 87 per cent of respondents expected retirement CDC to benefit future savers, compared to 13 per cent who did not. Commenting on the findings, Law Debenture Pension Trustees trustee director, Mark Humphreys, said: “This SPP polling shows industry professionals overwhelmingly believe retirement CDC will have a materially positive impact on savers. The challenge now is to ensure that optimism translates into reality.”

Pension Insurance Corporation (PIC) has expanded its build-to-rent portfolio with the acquisition of Ebb & Flow, a 598-unit development in Reading, in a deal worth more than £200m.

The fully operational asset forms part of the wider Station Hill regeneration scheme, a mixed-use development delivered by Lincoln Property Company and MGT Investment Management, and represents PIC’s largest investment in the living sector to date. The acquisition reflects PIC’s strategy of investing in high-quality, income-generating residential assets in undersupplied areas of the UK housing market, with build-to-rent offering long-term, inflation-linked cashflows aligned with pension liabilities. PIC head of real estate origination, James Agar, said: “The acquisition of Ebb & Flow aligns with PIC’s build-to-rent investment strategy, targeting well-located, high-quality developments that can deliver sustainable, inflation-linked cashflows to match pension liabilities over the long term.” PIC head of build-to-rent origination, Steve Hollands, added: “Ebb & Flow is a strong addition to our existing portfolio and reflects our strategic focus on acquiring purpose-built operational assets in attractive locations with strong long-term income growth potential.”

Hyde Group and Legal & General (L&G) have launched a joint venture to deliver affordable housing across the UK.

The 50/50 partnership brings together L&G’s annuity-backed investment capacity and Hyde’s national housing platform, and will launch with a seed portfolio of more than 1,000 homes across social rent and shared ownership tenures. The homes will be acquired via existing for-profit registered providers jointly owned by the two organisations, with scope for further investment over time. Hyde Group group chief executive, Andy Hulme, said: “There’s a gulf between the funding available and the funding needed to deliver the affordable homes the country needs. Grant alone will not close it. The only way we can close this gap is by bringing pension and other responsible capital into the mix.” L&G Affordable Homes managing director of stock acquisitions, Catherine Raynsford, added: “This new partnership with Hyde marks an exciting milestone, combining our heritage and expertise with an innovative approach that aims to attract institutional investment and accelerate the delivery of much-needed affordable housing nationwide.”

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