Asset managers still failing to engage on climate change & more…Keep up with the latest actuarial news in our weekly round-up…

Smiths Group pension scheme completes £142m buy-in with Aviva

The TI Group Pension Scheme, whose sponsoring employer is the industrial technology company, Smiths Group, has completed a £142m buy-in with Aviva.

Equity performance needed to close funding gaps in UK pensions

Willis Towers Watson (WTW) has warned that UK defined (DB) pension schemes may need a ‘once-a-century’ performance in order to close funding gaps by 2030, as they are overly-dependent on improbable equity returns.

XPS Launch Red Flag Index to help track pension scam increases

As part of their monthly Transfer Watch tracker, XPS have launched a Red Flag Index which measures the incidence of possible scams in cases covered by their scam protection services. This has come after pension scams have increases this past year.

One-third of asset managers still failing to engage on climate change

More than a third of asset managers worldwide were unable to provide an example of climate change-related engagement efforts when interviewed by consultancy firm Redington recently.

New professional development scheme released by the IFoA

The Institute and Faculty of Actuaries (IFoA) have launched a new scheme to encourage professional development. The scheme requires members to do 15 hours of activities; including two hours of professional skills training to continue their professional development.

Insurers must support mental health issues during Covid-19 pandemic

An Insurance Analyst at GlobalData has said that insurers need to consider the ‘fluctuating risk environment created by the pandemic; especially as mental health is not typically covered in standard policies’. This was said after a poll showed that 27% of respondents want to go back to work full time; whilst 46% want a mix of home and office working.