The Pensions Administration Standards Association (Pasa) has updated its digital 'jargon buster' guide.

The guide, which was initally shared in September 2021, was updated to reflect recent technological developments, and was written with assistance of ChatGPT and Claude Ai. Commenting on the update, Pasa Digital Admin Working Group member, Kim Toker, stated: “Generative AI marks a transformative era in technological advancement, similar to the Industrial Revolution. It’s going to change the way we work and there are numerous benefits which can be realised in pensions when used safely. This technology is evolving at a rapid pace and the regulations have yet to be defined in the UK. It’s important for all firms to ensure they have the necessary policies and frameworks in place to guarantee the safe use of these new tools." Pasa also confirmed that it will continue to provide update on the guide in the new year.

Cushon has been announced as the latest member of the Association of British Insurers (ABI).

Cushon said that, in becoming a member of the ABI, it is aiming to bring its expertise in areas such as decarbonisation and private markets to add to the work the ABI is already doing, highlighting the ABI's efforts with government, regulators and other stakeholders as "critical",
especially when there is so much regulatory change planned. Adding to this, ABI director of long-term savings, Yvonne Braun, said: "We’re delighted to welcome Cushon to the ABI and look forward enormously to working closely together. From supporting savers with understanding their retirement needs, to leveraging private markets to deliver results for savers and help boost economic growth, Cushon’s expertise will be a great addition to our membership.”

AlphaReal has been awarded a £240m portfolio to manage on behalf of a large UK defined benefit (DB) Pension scheme.

The portfolio covers the ground rents, long lease real estate and infrastructure assets of the scheme. The appointment of AlphaReal, in addition to an existing portfolio already managed for the same client, increases this portfolio to over £440m. Commenting on the news, AlphaReal fund manager, Gordon Smith, said: “We are delighted to have been selected as asset manager for this large, diverse portfolio. The allocation to AlphaReal recognises our expertise in both origination and management of real estate and infrastructure assets, and our experienced team that incorporates operational real estate expertise and fixed income skills.”

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