Rolls-Royce Retirement Savings Trust has appointed BlackRock to support the launch of its custom-built workplace pension default fund.

The Rolls-Royce Target Date Fund solution was designed especially for the 34,000 Rolls-Royce Members, leveraging BlackRock’s market leading insights, The fund operates on a 'glidepath’, gradually shifting investments from higher-risk to lower-risk assets as members approach their retirement date. It also places a focus on member-simplicity, with members only having to set a realistic retirement age and, when that date is reached, either take their retirement savings, or change their retirement age to a date in the future.

The Pensions Policy Institute has published its 2023 Pensions Primer.

The annual update, which provides an outline of the UK pensions system and the influence of current policy, is intended for people wanting to learn about, or update their knowledge relating to, current UK pensions policy. Covering both the state and private pensions, the latest update reflects the current position of, and legislated future changes to, the UK pension system as at 1 June 2023. The next update is expected to be published in June 2024.

The Legal & General NTR Clean Power (Europe) Fund, managed by Legal & General Investment Management (LGIM), has completed the financing of three Spanish solar projects in partnership with NordLB.

NordLB, the sole debt provider and hedge counterparty, provided debt facilities of around €50m with a debt tenor of 18 years. The portfolio, which consists of two sites in Castilla la Mancha and one in Andalucía, are all in construction with the first already exporting power and scheduled to achieve commercial operations (COD) this month (July). In a separate transaction, the fund also completed the acquisition of Ferme Eolienne Cruscades and Canet, a six-turbine onshore wind project near Narbonne, France.

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