The Pensions Administration Standards Association (PASA) has published updated guidance on data readiness for buy-ins and buyouts.

The revised guidance offers a deeper insight into the data elements insurers typically consider 'critical' for ensuring a smooth and successful transaction. PASA chair, David Fairs, commented: “Insurers increasingly expect trustees and administrators to provide complete, accurate and current data throughout the de-risking process. These expectations are equally relevant for schemes exploring alternative endgame strategies. High-quality membership data can significantly enhance the de-risking journey, driving stronger insurer engagement, greater transactional efficiency, improved pricing, and precise delivery of pension benefits.”

Lothian Pension Fund has launched a new climate change policy.

The new policy enhances and extends the fund's approach to climate change and details its commitments and ambitions. The policy’s goals are to support transitioning the real economy to net-zero greenhouse gas emissions by 2050, promote a managed decline for the fossil-fuel sector, report annually in line with the recommendations of the task force on climate-related financial disclosures (TCFD), and develop a climate action plan to support the resilience of its investment strategy to climate change. Lothian Pension Fund chief investment officer, Emmanuel Bocquet, said the new climate change policy achieved the “right balance” between implementing its commitments on climate and ensuring it maintained an appropriately unconstrained investment universe to deliver the required risk-adjusted investment returns over the long term for employers and members.

Schroders Capital has sealed a fifth acquisition for the Greater Manchester Pension Fund (GMPF).

The Schroders Capital real estate team, acting on behalf of the GMPF, has acquired a care home in southwest London for £14.2m. This deal marked the fifth acquisition for GMPF over the past 12 months, with investments totalling £130m, generating an average yield based on the gross acquisition prices of over 6.0 per cent. The five acquisitions are diversified across UK regions and real estate sectors such as living, industrials and offices. GMPF fund manager, Philip Scott, said: “Exiting 3-8 Whitehall Place at the peak of the market in the summer of 2022 has provided a fantastic opportunity to capitalise on the cyclical buying opportunity in the UK commercial real estate sector with our reinvestment strategy. Over the past 12 months, we have deployed the sales proceeds into our key conviction sectors and significantly boosted income and total returns from the portfolio. We have further funds to invest in 2025 and look forward to building on this momentum.”

Border to Coast Pensions Partnership has committed £80m to UK life sciences and energy transition funds.

The investment will build on more than £1bn already invested in the country’s private markets on behalf of partner funds. Forming part of the pool’s £0.5bn UK opportunities strategy, two UK-focused funds have been earmarked for £40m of commitments: UBS UK Life Sciences Property strategy and Quinbrook Renewables Impact Fund II. Border to Coast Pensions Partnership said its commitment to the UBS UK Life Sciences Property strategy would help build valuable real estate for the life sciences industry, supporting research, development, and manufacturing in the UK and enabling medical innovation. It added that the ‘Golden Triangle’ developments between Cambridge, Oxford and London would help meet the high demand for specialist, energy-efficient real estate to support a growing industry.

Dalriada Trustees has launched a defined contribution consolidator (DCC) solution to support the additional voluntary contributions (AVC) market.

The solution, created and developed by Dalriada and Smart Pension, aims to provide a commercial alternative in the market to improve value for money and member outcomes compared to the traditional approach and costs offered, where typically charges are at or above the 0.75 per cent annual charge cap, invested on legacy platforms with limited communications and have little on-line functionality and options at retirement. The DCC solution will allow trustees to streamline their operations and risk management in an ever-increasing governance environment. This includes pensions dashboards and the expected pensions bill relating to decumulation requirements for DC assets. At the beginning of the process, Dalriada ran a procurement programme to appoint Gowling WLG and Hymans Robertson as advisers. A further selection exercise was subsequently undertaken, resulting in the appointment of Smart Pension.

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