By IPE Staff2020-12-16T12:47:00+00:00
The Maersk Retirement Benefit Scheme has agreed a £1.1bn (€1.2bn) bulk annuity transaction with Legal & General Assurance Society Limited, which will secure the benefits of around 1,900 deferred members and 3,000 retirees.
The scheme’s trustee has, over the past few years, taken several steps to de-risk the scheme including fully hedging its interest rate and inflation exposures, it was announced.
This approach put the Maersk scheme in a strong position to weather the recent market volatility and take advantage of an opportunity to further de-risk by entering into a buy-in transaction with Legal & General.
Nigel Pusey, chair of the scheme’s trustee, said: “After many years of careful management and de-risking we have now secured our members’ benefits through a buy-in with Legal & General.”
So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap, ‘pension freedoms or consultations around ‘value for money , says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).Download
In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme members in the world of pensions.Download
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The mafia soldier hired by the ex-husband of Real Housewives of New Jersey s Dina Manzo to assault her current husband has pleaded guilty Haven Orecchio-Egresitz Dina Manzo. An accused mafia soldier hired by the ex of a Real Housewives of New Jersey star to assault the woman s new husband has pleaded guilty to a federal assault charge. Prosecutors said that John Perna was hired by Thomas Manzo to assault the man that Dina Manzo married in 2017. In exchange for the assault, Thomas Manzo provided Perna with a deeply discounted wedding reception at his New Jersey venue, prosecutors say.
John Perna, an alleged soldier in the Lucchese crime family pleaded guilty Wednesday to a federal charge that he planned and carried out an attack on the husband of a Real Housewives of New Jersey cast member at the behest of the woman s ex, according to the plea agreement seen by Insider.
Covid spike down to community spread not schools, according to West Dunbartonshire report
The document to be scrutinised by councillors shows 15 staff have tested positive for coronavirus since schools returned in August.
The Vale of Leven Academy (Image: Turkey Red Media)
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December 15, 2020 at 9:45am
The timeline for completion of the second phase of the Silver Line continues to be the subject of uncertainty.
Phase II of the Silver Line has the potential to open in the fall of 2021, at the earliest. That is subject to change, however, as there are multiple issues that must be resolved first.
Laura Mason, head of capital delivery for Metro, discussed 28 issues with Phase II of the Silver Line project during Metro’s Safety and Operations Committee meeting on Dec. 10. She detailed the status of 14 quality issues previously brought forth, as well as 14 unresolved issues.
Of the 28 total issues discussed during the meeting, 10 are unresolved, eight are underway where a tentative agreement exists and resolution is in progress, and 10 are resolved. Metro will require the resolution of the issues by the Metropolitan Washington Airports Authority (MWAA) and its contractors before accepting the project.