The rise in interest rates globally in 2022–23 led to improved scheme funding for many defined-benefit pension schemes. Many schemes in the UK now find themselves closer to, or at, a fully funded position on a low-risk basis (annuity buyout or self-sufficiency). Finishing the journey while managing the risk of losses on that journey is highly desirable, but may be difficult to achieve in practice.

However many schemes are not yet sufficiently funded to buy out liabilities in full with an insurer. Others may not wish to, and many who can afford to do so are not yet able to for investment reasons (such as holding illiquid assets) or operational reasons (such as the time needed to resolve member data issues). For schemes that instead look to adopt self-sufficient ongoing management with low dependency on the sponsoring employer, this may be difficult to maintain in practice. In short, there remains a risk that benefits will not be secured in full, which with hindsight could have been avoided.

The addition of capital to pension scheme assets has long been deployed to enhance the security of member benefits e.g., capital from insurers in the case of a buyout or capital from sponsors in the form of contingent assets.

More recently, providers have developed a diverse set of arrangements that draw on external capital to aid trustees and corporates to meet scheme funding ambitions. Capital Backed Funding Arrangements (“CBFA”) are in this context an additional tool in the trustee toolkit for delivering funding strategies.

This paper focusses on the UK-defined benefit market but the dynamics are applicable to other jurisdictions, with CBFAs being developed for wider markets (e.g., Ireland).

In this paper we:

• survey the current scheme funding landscape and consider the need in this environment for arrangements to support scheme funding journeys to deliver benefits in full

• summarise the key features of arrangements in the market that may support these objectives

• set out considerations for trustees and sponsoring companies when assessing these arrangements.

The aim of this paper is educational – to increase awareness of the key issues and potential solutions. Professional advice will always be required prior to any transaction. We welcome feedback from readers on further material that would be beneficial to support consideration of these arrangements.

Objectives: Understanding how the importance of modifiable risk factors for dementia varies by cognitive status and sex is vital for the development of effective approaches to dementia prevention. We aimed to calculate population attributable fractions (PAFs) for incident dementia associated with sets of risk factors while exploring sex differences in individuals who are cognitively normal (CN) or has mild cognitive impairment (MCI).

Methods: Longitudinal data from the Rush University Memory and Aging Project (MAP) were analysed. Included participants were aged over 50 years and were CN or with a diagnosis of MCI at their baseline assessment. Analyses considered fifteen potential dementia risk factors covering cardiometabolic, lifestyle, psychosocial and sensory domains. We used Cox proportional hazard models to estimate the hazard ratios for incident dementia associated with dementia risk factors and calculated weighted PAFs. All analyses were repeated stratified by sex.

Results: The analytical sample comprised 754 cognitively normal participants (77.2% female) and 242 participants with a diagnosis of MCI (71.9% female), of whom 214 (28.4%) and 120 (49.6%) were diagnosed with dementia across the follow-up, respectively. Although the weighted overall PAF was similar for CN (24.7%) and MCI (25.2%) subgroups, sex differences were present in both. Compared to in females, PAFs were higher in males in both CN (42.5% vs. 25.1%) and MCI (51.6% vs 12.3%) subgroups. The profiles of contributing risk factors also varied by sex. In males, the highest PAFs were smoking (11.1%), vision impairment (6.2%) and stroke (6.0%) in CN and smoking (13.3%), physical inactivity (12.9%) and heart attack (7.9%) in MCI. In females, the highest PAFs were unmarried marital status (4.9%), depression (4.1%) and social isolation (3.8%) in CN and vision impairment (4.4%), increased alcohol intake (3.5%) and depression (2.6%) in MCI.

Conclusions: These findings support the notion that dementia risk is modifiable after the onset of MCI. They also highlight the potential benefits of considering an individual’s cognitive status and sex when formulating dementia prevention strategies.

During the Middle Horizon (AD 600–1000), obsidian was transported in greater quantities and distances than ever before identified in the Andes, in part by the expansionary Wari state. Two of the three major obsidian sources used in the south-central Andes are located in the modern department of Arequipa, Peru. Arequipa was a region of intense Wari influence and intrusive presence; however, little is known about regional obsidian use. Portable X-ray fluorescence (pXRF) and laser ablation-inductively coupled plasma-mass spectrometry (LA-ICP-MS) were used to analyze 383 obsidian artifacts recovered from 10 archaeological sites in Arequipa. Results highlight diachronic and spatial patterning related to obsidian procurement strategies, state versus bottom-up exchange networks, and local participation within the Wari realm. A wide variety of geological obsidian sources, including nonlocal obsidians originating from Wari's Ayacucho heartland, were used. By the late Middle Horizon, the Wari had consolidated regional resources with the sole use of Alca-1 and Alca-4 bedrock obsidians, the largest-sized and highest-quality sources in the area. We assess related models of obsidian procurement and exchange related to state political economy, long-distance caravan activity, and the role of local ceremonial/waystation centers that facilitated the flow of ideas, goods, and people across Arequipa.

Newcastle disease (ND) is a notifiable disease affecting chickens and other avian species caused by virulent strains of Avian paramyxovirus type 1 (APMV-1). While outbreaks of ND can have devastating consequences, avirulent strains of APMV-1 generally cause subclinical infections or mild disease. However, viruses can cause different levels of disease in different species and virulence can evolve following cross-species transmission events. This report describes the detection of three cases of avirulent APMV-1 infection in Great Britain (GB). Case 1 emerged from the ‘testing to exclude’ scheme in chickens in Shropshire while cases 2 and 3 were made directly from notifiable avian disease investigations in chicken broilers in Herefordshire and on premises in Wiltshire containing ducks and mixed species, respectively). Class II/genotype I.1.1 APMV-1 from case 1 shared 99.94% identity to the Queensland V4 strain of APMV-1. Class II/genotype II APMV-1 was detected from case 2 while the class II/genotype I.2 virus from case 3 aligned closely with strains isolated from Anseriformes. Exclusion of ND through rapid detection of avirulent APMV-1 is important where clinical signs caused by avirulent or virulent APMV-1s could be ambiguous. Understanding the diversity of APMV-1s circulating in GB is critical to understanding disease threat from these adaptable viruses.

From 2014 to 2020, we compiled radiocarbon ages from the lower 48 states, creating a database of more than 100,000 archaeological, geological, and paleontological ages that will be freely available to researchers through the Canadian Archaeological Radiocarbon Database. Here, we discuss the process used to compile ages, general characteristics of the database, and lessons learned from this exercise in “big data” compilation.

Design thinking is a methodology that comes from the industrial design realm and is centred on culling better needs insight from users. Another popular methodology is based gaining insight on the potential of an opportunity through experimentation, testing, and iterating with users. This is commonly referred to as lean startup methods. However, from a research perspective, we still do not know the most effective way to implement these user focused design methods within the innovation process within organizations, and which aspects of the design process are the most impactful in developing new opportunities. In this research, we propose a high-level conceptual process model on how user focused design methods such as design thinking and lean startup methods can be integrated into the up-front innovation process within organizations. We review the conceptual model, associated activities, and process considerations. The article concludes with thoughts on future research.

Diet modifies the risk of colorectal cancer (CRC), and inconclusive evidence suggests that yogurt may protect against CRC. We analysed the data collected from two separate colonoscopy-based case–control studies. The Tennessee Colorectal Polyp Study (TCPS) and Johns Hopkins Biofilm Study included 5446 and 1061 participants, respectively, diagnosed with hyperplastic polyp (HP), sessile serrated polyp, adenomatous polyp (AP) or without any polyps. Multinomial logistic regression models were used to derive OR and 95 % CI to evaluate comparisons between cases and polyp-free controls and case–case comparisons between different polyp types. We evaluated the association between frequency of yogurt intake and probiotic use with the diagnosis of colorectal polyps. In the TCPS, daily yogurt intake v. no/rare intake was associated with decreased odds of HP (OR 0·54; 95 % CI 0·31, 0·95) and weekly yogurt intake was associated with decreased odds of AP among women (OR 0·73; 95 % CI 0·55, 0·98). In the Biofilm Study, both weekly yogurt intake and probiotic use were associated with a non-significant reduction in odds of overall AP (OR 0·75; 95 % CI 0·54, 1·04) and (OR 0·72; 95 % CI 0·49, 1·06) in comparison with no use, respectively. In summary, yogurt intake may be associated with decreased odds of HP and AP and probiotic use may be associated with decreased odds of AP. Further prospective studies are needed to verify these associations.

Thank you all for joining us today. My name is David Bigge, and I am the co-chair of the International Courts and Tribunals Interest Group, which organized this particular panel. I would like to, up front, thank the sponsor for this panel, Curtis Mallet.

The rare Li-mica taeniolite is described from the Dicker Willem carbonatite complex, Namibia, and from the Alpine carbonatitic lamprophyre dyke swarm at Haast River, New Zealand. At Haast River, taeniolite occurs in sodic and ultrasodic fenites derived from quartzo-feldspathic schists and rarely in metabasites, adjacent to dykes of tinguaite, trachyte and a spectrum of carbonatites ranging from Ca- to Fe- rich types. In Namibia, taeniolite is present in potassic fenites derived from quartz-feldspathic gneisses and granitoids at the margin of an early sövite phase of the complex and in a radial sövite dyke emanating from this centre.

The occurrence of taeniolite in these totally disparate carbonatite complexes, together with examples of lithian mica from other carbonatite complexes worldwide, raises the question of the status of Li as a ‘carbonatitic element’. We argue that lithium is not a consequence of crustal assimilation or interaction, but reflects the geochemical character of the magmatic source. Li, an overlooked and little-analysed element, may be an integral part of metasomatic enrichment in the mantle, and of magmas derived by partial melting of such a source.

Automakers are interested in creating optimal car shapes that can visually convey environmental friendliness and safety to customers. This research examined the influence of vehicle form on perceptions based on two subjective inference measures: safety and perceived environmental friendliness (PEF). A within-subjects study was conducted in 2009 (Study 1) to study how people would evaluate 20 different vehicle silhouettes created by designers in industry. Participants were asked to evaluate forms on several scales, including PEF, safety, inspired by nature, familiarity, and overall preference. The same study was repeated in 2016 (Study 2). The results from the first study showed an inverse relationship between PEF and perceptions of safety. That is, vehicles that appeared to be safe were perceived to be less environmentally friendly, and vice versa. Participants in the second study showed a similar trend, but not as strongly as the 2009 participants. Several shape variables were identified to be correlated with participants’ PEF and safety ratings. The changes in the trend of participants’ evaluations over seven years were also discussed. These results can provide designers with insights into how to create car shapes with balanced PEF and safety in the early design stage.