News in brief: 3 December

- Ireland’s Pensions Authority has published instructions for trustees on how to make a notification of the appointment of key function holders as provided for under the Pensions Act, 1990, as amended (the Act).

Section 64AM of the Act requires trustees to notify the authority of outsourcing arrangements. From 1 December 2021, trustees must notify the authority when they enter an outsourcing arrangement for the provision of the internal audit and risk management key functions.

- Railpen, one of the largest pension funds in the UK, with c.£35bn AUM, has opted for FINBOURNE’s cloud, investment data management platform, LUSID, as its Investment Book of Record (IBOR).

The decision forms a significant pillar in Railpen’s data management strategy, as it continues to enrich its in-house operations, adding new and future-proof capabilities across the middle and back office. Using SaaS technology, the platform delivers a built-in ‘translation service’ that interprets complex formats and domain specific data, into the language employees need, across front, middle and back office workflows - breaking through the data silos experienced by much of the industry today.

- Sweden’s Alecta launches photography exhibition on life as a pensioners as part of its work to create an image of the elderly in Sweden that is more multifaceted and better in line with reality.

The exhibition titled, Older but not old’ will be revealed at Asecs shopping centre in Jönköping. The exhibition contains 22 portraits of Swedes who are just older but not old. The models include Barbro Westerholm, Amelia Adamo and Claes Elfsberg.

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