Keep up with what has been happening this week in our latest actuary news round-up…

UK companies could be overstating pension liabilities due to pandemic

According to research from XPS Pensions, it has found that accounts from UK companies could be overstating pension liabilities by up to £60bn due to the Covid-19 pandemic.

Investment firms strengthen risk functions during pandemic

KMPG’s sixth annual survey or risk and Internal Capital Adequacy Assessment Process has show that investment firms increased their risk controls during 2020 as a result of the Covid-19 pandemic.

Government to set up infrastructure bank and work with pension funds to support investment

The National Infrastructure Strategy has published the government’s plans to change the UK’s infrastructure network by setting up an infrastructure bank to work with pension fund which will support investments.

Just Group completes £74m buy-in with unnamed UK engineering pension scheme

Just Group have completed a £74m buy-in with a £170m UK pension scheme of an American-listed engineering business where the transaction leader Cartwright partnered with K3 Advisory to increase its access to the bulk annuity market.

Men less likely to miss out on free pension guidance

In a new study by Just Group, women are more likely to miss out on free pension guidance as the study showed that women were nearly half as likely as men to know about their entitlement to the impartial pension guidance.

Climate-related financial reports should be disclosed under new rules

Chancellor, Rishi Sunak, has unveiled that UK pension schemes, insurance companies, asset managers and banks will be forced to disclose their financial exposure to climate change by 2025.

HMRC suffer a 75% surge in email attacks during pandemic

A report has been released which shows that HMRC have suffered a 75% increase in email attacks in the past year during the pandemic.