News in brief - 30 April 2021

The Pension Insurance Corporation (PIC) has invested £37.5m in Wales and West Housing.

The funding has been split into three tranches, with drawdowns in 2021 and 2022, before the entire amount matures in 2060. The investment will go towards the funding of 2,500 new homes to be built over the next five years, and is PIC’s third investment in the Welsh social housing industry, following previous agreements with Pobl and the Welsh Housing Partnership, with over £200m now invested in this space. The maturity profile of the investment has also been tailored to match PIC’s pension liabilities in years where it is difficult to source cashflows in the public bond markets.

Buck has launched an environmental, social and governance (ESG) dashboard for UK pension schemes.

The dashboard will showcase scheme-specific ESG data, and will also allow schemes to begin meeting the compliance requirements set out in the Pensions Scheme Act 2021. The tool was designed to enable schemes to access ESG metrics on their investment portfolio as defined and prioritised by trustees, as well as seeing relevant ESG management information clearly. The group also emphasised that whilst the dashboard goes “beyond just meeting compliance requirements” it will also help schemes to comply with upcoming requirements around the incorporation of the Task Force on Climate-related Financial Disclosures (TCFD) recommendations.

Spence and Partners has been awarded accreditation from the Pensions and Administration Standards Association (Pasa).

Accreditation is open to all corporate members of Pasa and is granted following an independent evaluation and assessment process, including a review of documentation to evidence controls, procedures and processes. Commenting on the announcement, Spence and Partners director, Alan Collins, said: “Great administration is the cornerstone of any successful scheme. At Spence, we are forward looking and enthusiastic about the services we deliver for trustees and members. We are therefore delighted to have achieved Pasa accreditation. It is a demanding standard to achieve, and it reflects our desire to offer a best-in-class service and improve levels of member engagement."

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