City occupiers scramble for data-storage space

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UK roundup: TPR pipes up over inter-DC transfers; ‘Cross-country’ PRT deal

first_imgThe Pensions Regulator (TPR) has updated its COVID-19-related guidance to tell trustees they must continue to prioritise transfers between defined contribution (DC) schemes during the pandemic and stay alert to scams.At the end of March trustees of defined benefit (DB) schemes were told they could delay new member requests for quotations for transfers to DC schemes by up to three months to review their transfer basis, but TPR today said “this is not the case for transfers between DC schemes where the valuation of benefits is less complex”.David Fairs, TPR’s executive director of policy, said: “Our latest guidance should help trustees of DC schemes prioritise what’s most important – such as ensuring DC to DC transfers are completed in a reasonable time, so savers don’t lose out.“As well as carrying out their due diligence on transfers, trustees should help protect members by highlighting the risk from scammers in their own communications,” he added. Last month TPR published guidance asking trustees to write to DB members looking to move retirement funds to warn them of the risks during the pandemic and urging them to consider their decisions carefully.IHS Markit syncs UK, US pension risk transferLegal & General has simultaneously agreed pension risk transfer transactions for IHS Markit US and UK pension plans, the first time the insurer struck a “cross-country” deal.The UK transaction was for £37.8m (€42m) and covered around 150 members in the IHS (Global) Ltd. Pension and Life Assurance Scheme. The US transaction was for $97.2m, covering around 1,200 members in the IHS Retirement Income Plan.Stafford Napier, chair of the UK plan trustees, said: “This transaction is a key step in our plans to de-risk the provision of pension benefits for our members in the UK. We had been discussing the opportunities for de-risking with our sponsoring employer for a number of years.“With the support of the company, our advisers and Legal & General we were able to complete the transaction efficiently and on time even in the face of the challenging financial circumstances surrounding the coronavirus emergency.”Recent market volatility, in particular wider credit spreads, has however led to some attractive pricing in the UK bulk annuity market.“We would anticipate a global approach to de-risking being one of the key levers that sponsors with UK and US obligations look to utilise going forwards.”Greg Robertson, transactions specialist at Willis Towers WatsonGreg Robertson, transactions specialist at Willis Towers Watson, which advised on both deals, said the co-ordinated transaction “further demonstrates the value of innovation in the bulk annuity market.“With demand for transactions still high, it remains important for schemes to differentiate themselves in order to maximise insurer engagement and to secure attractive pricing.“One of those differentiators might now be a global approach to de-risking. We would anticipate this being one of the key levers that sponsors with UK and US obligations look to utilise going forwards.”IHS Markit is a global provider of research, market intelligence and analysis. L&G noted that it has been a client of its asset manager LGIM for more than 15 years.Pace de-risks again with AvivaPace, the Co-operative Pension Scheme, has insured the defined benefit liabilities of an additional 2,300 members after striking a £350m buy-in with Aviva.The deal was completed using a pre-agreed “umbrella contract”, and comes on top of £1bn deal between the two parties announced in January. The Pace pension fund has also struck a £1bn buy-in with the Pension Insurance Corporation.The process to select an insurer, in this case Aviva, and negotiate terms was led by Aon on behalf of the trustee. Legal advice was provided by Linklaters and investment advice by Mercer.Chris Martin, of Independent Trustee Services Limited and Pace trustee chair, said: “The trustee board is delighted to have been able to take this further step in enhancing the security of our members’ benefits.“The ability to transact this quickly and efficiently is testament to all of the hard work from our colleagues in the Co-op Pensions Department in getting Pace to a position where such security enhancing options are possible. Thanks also go to all of our advisers for their work in exceptionally challenging circumstances in making this outcome possible”.Tom Scott, principal consultant in Aon’s risk settlement group, said: “By leveraging the previous buy-in transaction with Aviva, we were able to capture a short-term pricing opportunity on behalf of the trustee.“Swift execution was required in the circumstances, which was made possible by the scheme being well-prepared and having efficient and nimble governance processes in place.”Looking for IPE’s latest magazine? Read the digital edition here.last_img read more

Man Utd suffer transfer blow as Everton ace pens new five-year contract

first_img Loading… No Premier League player has netted more times since Carlo Ancelotti arrived as Toffees coach than the eight for Calvert-Lewin. Read Also: Ex-Liverpool player quarantined after hugging Coronavirus patientIn their pursuit of fresh attacking talent, United were linked with a mega money move for Calvert-Lewin ahead of the January transfer window.A fee of £50million was mooted with Ancelotti claiming while still Napoli boss that “there are a lot of people who have eyes on him”.But Everton putting the England Under-20 world champion on a new contract has surely dispelled any exit fears.FacebookTwitterWhatsAppEmail分享 Dominic Calvert-Lewin has signed a new five-year Everton contract having sparked Manchester United’s interest with his goalscoring exploits.Advertisement Calvert-Lewin told evertontv: “This is a very proud day. It has been enjoyable for me since the start at Everton and I am enjoying every day coming into training and every minute on the football pitch.“The turnaround we have had since December is fantastic and the belief in ourselves we are back up there and can compete with the best is well and truly there.“And with a man like Carlo leading the ship it makes it easier for us to believe in the process.“I like to think I have shown I am ready to live up to the expectations of being Everton’s number nine.“But I am well aware of how much I need to improve and how much better I can do.“I love where I am and the position I am in and I love playing for Everton Football Club.” That has contributed to a 15-goal tally and is by far the 22-year-old’s personal best after four seasons in the Everton first-team.Now the Merseyside club have moved quickly to extend his current deal until summer of 2025. Promoted ContentEver Thought Of Sleeping Next To Celebs? This Guy Will Show YouThe Very Last Bitcoin Will Be Mined Around 2140. Read More7 Things That Actually Ruin Your PhoneBirds Enjoy Living In A Gallery Space Created For Them7 Universities Where Getting An Education Costs A Hefty PennyWho Is The Most Powerful Woman On Earth?Tarantino’s Latest Effort Will Probably Be His Best To Date7 Truly Incredible Facts About Black Holes7 Mysterious Discoveries Archaeologists Still Can’t Explain10 Risky Jobs Some Women DoLaugh, Cry, Or Just Relax With The Best Series Streaming On HBO6 Amazing Shows From The 90s That Need A Reboot Right Nowlast_img read more

Sunman Man Hospitilized After Jump From Moving Car

first_imgA Sunman man was hospitalized after jumping from a moving car on Thursday morning.Police say 21-year-old Dustin Beasley of Sunman was traveling in a vehicle along with four passengers when an argument broke out.According to the report, Beasley said he wanted out of the car, then climbed through the front passenger window and jumped.Beasley was flown by AirCare to University of Cincinnati Medical Center with head trauma.His current condition has not been released, however according to media sources, he was speaking with officers at the scene.Police are investigating the incident.last_img read more

Gomez: Lozano can have Chicharito impact at Man Utd

first_img “But here’s the thing – Javier Hernandez before he gets to Manchester United was a nobody in world sport. “Let’s be honest, nobody had ever heard of him unless you were a Mexico soccer fan. Certainly people across the pond had never heard of him. “But when he got there they realised something – ‘hold on a second, maybe he can help us out on the field and what’s this? Look at this huge bump off the field’. read also:Premier League club plot move for Napoli’s Lozano “Marketing-wise it was a circus, it was a bonanza, it was very productive. “Chucky Lozano has that factor going for him, if and when this does happen.” FacebookTwitterWhatsAppEmail分享 Loading… Promoted Content10 Risky Jobs Some Women DoCan Playing Too Many Video Games Hurt Your Body?You’ve Only Seen Such Colorful Hairdos In A Handful Of AnimeGorgeous Asian Actresses All Men Are Crazy About7 Truly Incredible Facts About Black HolesBest & Worst Celebrity Endorsed Games Ever Made14 Hilarious Comics Made By Women You Need To Follow Right NowIs This The Most Delicious Food In The World?9 Facts You Should Know Before Getting A Tattoo7 Universities Where Getting An Education Costs A Hefty PennyPortuguese Street Artist Creates Hyper-Realistic 3D GraffitiPlaying Games For Hours Can Do This To Your Body Gomez believes United’s style of play could suit Lozano. The ESPN pundit reckons an asking price of around €50million (£44m) may be unrealistic for a player who has started just eight Serie A games this season. “You have to go [if United want you]. There’s no two ways about it, you go,” Gomez told ESPN. “[€50m] is a lot for a player that hasn’t played much, a player who is surplus in your rotation at the moment, a player that you’ve asked to play not in his natural position but as a second forward, and hasn’t really produced. “A handful of games really where he’s started, maybe two or three goals, a few assists – not exactly screaming €50m from Manchester United.Advertisement Former USA international, Herculez Gomez, is backing Manchester United’s interest in Napoli midfielder. Hirving Lozano.last_img read more

Boyd set for Burnley move

first_img Scotland international Boyd joined the Tigers midway through their promotion campaign in 2012/13 and featured intermittently in the Barclays Premier League last season, as well as coming off the bench in the FA Cup final defeat to Arsenal. But he is now well down the pecking order and has been offered the chance of a key role at Turf Moor. Press Association Hull manager Steve Bruce expects forward George Boyd to sign for Burnley after allowing him to hold talks with the Clarets.center_img Boyd is expected to cost around £3million. “It looks like Boydy will go to Burnley. We allowed George to speak to Burnley and personally I wish him well,” said Bruce after his side lost 2-1 at Aston Villa. “He got an offer of a three or four year contract at Burnley and the chance to play. “But I’ve been in the game a long time and if all professional footballers were like George Boyd my job would be easy.” Bruce also confirmed the signing of Cork City defender Brian Lenihan, although the 20-year-old is likely to go straight into the club’s development squad rather than challenging for a first-team place. “Lenihan is done and dusted. He’s one for the future,” added Bruce. last_img read more

Cricket News Rohit Sharma’s India aim to bounce back after Wellington drubbing against New Zealand

first_img New Delhi: In Twenty20 Internationals, India has endured a 12-year struggle when it comes to facing New Zealand. Ever since their encounter in 2007 at the World T20, India has been on the receiving end of heartbreaks. In Wellington, India were blown away in all departments. With the bat, Tim Seifert’s brilliant 84 and solid knocks from Kane Williamson and Ross Taylor boosted the Kiwis to their highest-score against India. The 80-run loss is a massive wake-up call for India as they look to sustain the momentum after winning the ODI series 4-1. With the next match in Auckland and with the short boundaries on offer, a similar display by New Zealand could prove fatal for Rohit’s side.For New Zealand, the one thing that was missing in their ODI losses was the lack of a fast start from the openers. In the Wellington T20I, Seifert and Colin Munro gave the Kiwis an aggressive start. Both players found the boundary on a regular basis and at the end of the powerplay, they were scoring at a rate of over 10 runs an over. The high run-rate and combined with a solid opening partnership allowed the middle order to capitalise and end on a high.With the ball, Williamson’s side has covered their bases with variety and pace. Lockie Ferguson made the difference with his pace which went over 150 kmph on a regular basis. Ish Sodhi and Mitchell Santner showed their ability to dry up the runs in the middle overs while Tim Southee was impressive with the ball. Before the match, Southee had admitted that he was worried about his form but he responded with 3/17 to bounce back in style. India have lost seven T20Is against New Zealand.India have never won a T20I in New Zealand.India have won only two T20Is in contests against New Zealand. For all the Latest Sports News News, Cricket News News, Download News Nation Android and iOS Mobile Apps. For India, the nature of the loss has forced them to rethink. Khaleel Ahmed continued to struggle and the team could replace him with either Siddharth Kaul or Mohammad Siraj, who warmed the bench. The spinners, Krunal Pandya and Yuzvendra Chahal, did alright but the team management will also consider including chinaman Kuldeep Yadav. India will be aiming to be sharp on the field, with Dinesh Karthik dropping two catches and the ever-dependable MS Dhoni dropping a catch off Seifert. With the bat, Shikhar Dhawan and Vijay Shankar showed some sustained aggression but the damage was already done as the asking rate mounted. A loss in Auckland will prolong India’s pain and the short boundaries will only make the task of the bowlers a lot harder. highlightslast_img read more