Professional Pensions www.professionalpensions.com Longevity assumption update could save sponsors 'millions' <img alt="Longevity assumption update could save sponsors &#39;millions&#39;" src="https://www.professionalpensions.com/api/v1/wps/b77d121/d78318f0-2634-4590-85ac-125da4a5dcc3/0/iStock-1447397756-185x114.jpg" /> <p><!--summary start--> Updating longevity assumptions to reflect more recent views on life expectancy could save sponsoring employers “millions”, research from Hymans Robertson finds. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/b77d121/d78318f0-2634-4590-85ac-125da4a5dcc3/0/iStock-1447397756-185x114.jpg https://www.professionalpensions.com/news/4190419/longevity-assumption-update-save-sponsors-millions https://www.professionalpensions.com/news/4190419/longevity-assumption-update-save-sponsors-millions https://www.professionalpensions.com/news/4190419/longevity-assumption-update-save-sponsors-millions Wed, 27 Mar 2024 14:58:43 +0000 DB transfer activity falls to record lows in February <img alt="DB transfer activity falls to record lows in February " src="https://www.professionalpensions.com/api/v1/wps/95afa1a/5c52c104-1612-4f98-8602-2c99751e5dd9/0/Arrows-pointing-down-iStock-1398045872-185x114.jpg" /> <p><!--summary start--> Defined benefit (DB) transfer activity fell to record lows in February, research from XPS Pensions Group shows. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/95afa1a/5c52c104-1612-4f98-8602-2c99751e5dd9/0/Arrows-pointing-down-iStock-1398045872-185x114.jpg https://www.professionalpensions.com/news/4190412/db-transfer-activity-falls-record-lows-february https://www.professionalpensions.com/news/4190412/db-transfer-activity-falls-record-lows-february https://www.professionalpensions.com/news/4190412/db-transfer-activity-falls-record-lows-february Wed, 27 Mar 2024 14:47:59 +0000 PIC posts 68% rise in new business premiums amid record year for BPA <img alt="PIC posts 68% rise in new business premiums amid record year for BPA" src="https://www.professionalpensions.com/api/v1/wps/ccb9f41/48cdafd5-3bf4-45e0-886d-f4cce2444b55/1/Blackwell-Tracy-PIC-2020-185x114.jpg" /> <p><!--summary start--> Pension Insurance Corporation (PIC) wrote a total of £6.9bn of new business premiums during the year to 31 December 2023, its full-year results reveal. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/ccb9f41/48cdafd5-3bf4-45e0-886d-f4cce2444b55/1/Blackwell-Tracy-PIC-2020-185x114.jpg https://www.professionalpensions.com/news/4190260/pic-posts-68-rise-business-premiums-amid-record-bpa https://www.professionalpensions.com/news/4190260/pic-posts-68-rise-business-premiums-amid-record-bpa https://www.professionalpensions.com/news/4190260/pic-posts-68-rise-business-premiums-amid-record-bpa Wed, 27 Mar 2024 10:38:16 +0000 WPC publishes report into defined benefit pension schemes <img alt="WPC publishes report into defined benefit pension schemes" src="https://www.professionalpensions.com/api/v1/wps/4fe2c87/5fd756b4-7120-425a-a1be-b236ddedf2fa/4/parliament-185x114.jpg" /> <p><!--summary start--> The Work and Pensions Committee (WPC) has published its inquiry into defined benefit (DB) schemes. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/4fe2c87/5fd756b4-7120-425a-a1be-b236ddedf2fa/4/parliament-185x114.jpg https://www.professionalpensions.com/news/4189798/wpc-publishes-report-defined-benefit-pension-schemes https://www.professionalpensions.com/news/4189798/wpc-publishes-report-defined-benefit-pension-schemes https://www.professionalpensions.com/news/4189798/wpc-publishes-report-defined-benefit-pension-schemes Tue, 26 Mar 2024 11:25:26 +0000 Half of DB schemes to move to corporate sole trustee model by 2028 <img alt="Half of DB schemes to move to corporate sole trustee model by 2028" src="https://www.professionalpensions.com/api/v1/wps/2019292/e98f0640-e094-49aa-b119-f051da383396/5/SS-online-survey-yougov-185x114.jpg" /> <p><!--summary start--> Half (50%) of defined benefit (DB) schemes expect to move towards a corporate sole trustee model by 2028, Hymans Robertson finds. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/2019292/e98f0640-e094-49aa-b119-f051da383396/5/SS-online-survey-yougov-185x114.jpg https://www.professionalpensions.com/news/4188634/half-db-schemes-corporate-sole-trustee-model-2028 https://www.professionalpensions.com/news/4188634/half-db-schemes-corporate-sole-trustee-model-2028 https://www.professionalpensions.com/news/4188634/half-db-schemes-corporate-sole-trustee-model-2028 Fri, 22 Mar 2024 10:58:19 +0000 Industry backs calls for 'further reflection' on DB statements of strategy <img alt="Industry backs calls for &#39;further reflection&#39; on DB statements of strategy " src="https://www.professionalpensions.com/api/v1/wps/2bea2ed/35140104-0ff3-426f-af01-943452f26df1/0/iStock-1264489251-185x114.jpg" /> <p><!--summary start--> A majority of the industry believes “further reflection” is required over The Pension Regulator’s (TPR) plans for defined benefit (DB) scheme statements of strategy, a Professional Pensions poll shows. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/2bea2ed/35140104-0ff3-426f-af01-943452f26df1/0/iStock-1264489251-185x114.jpg https://www.professionalpensions.com/news/4187666/industry-backs-calls-reflection-db-statements-strategy https://www.professionalpensions.com/news/4187666/industry-backs-calls-reflection-db-statements-strategy https://www.professionalpensions.com/news/4187666/industry-backs-calls-reflection-db-statements-strategy Wed, 20 Mar 2024 14:16:41 +0000 Charities urged to review DB endgame plans as scheme funding grows <img alt="Charities urged to review DB endgame plans as scheme funding grows" src="https://www.professionalpensions.com/api/v1/wps/c740fce/9a7636db-8c31-4bd2-baf2-fe2d309253c4/4/Russell-Smith-Alistair-Hymans-Robertson-2020-roi-1-185x114.jpg" /> <p><!--summary start--> Charity defined benefit (DB) schemes have seen funding levels rise to 104% on an FRS102 basis and 83% on an insurance buyout basis, latest analysis from Spence & Partners shows. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/c740fce/9a7636db-8c31-4bd2-baf2-fe2d309253c4/4/Russell-Smith-Alistair-Hymans-Robertson-2020-roi-1-185x114.jpg https://www.professionalpensions.com/news/4187195/charities-urged-review-db-endgame-plans-scheme-funding-grows https://www.professionalpensions.com/news/4187195/charities-urged-review-db-endgame-plans-scheme-funding-grows https://www.professionalpensions.com/news/4187195/charities-urged-review-db-endgame-plans-scheme-funding-grows Tue, 19 Mar 2024 14:37:28 +0000 Over 50s income source split half and half between DB and state pension <img alt="Over 50s income source split half and half between DB and state pension" src="https://www.professionalpensions.com/api/v1/wps/2a3e605/6c49cf93-c7e1-4ba5-9971-ca0a63dfd660/0/retirement-income-185x114.jpg" /> <p><!--summary start--> The retirement income source for those aged 50 and over is split roughly 50:50 between defined benefit (DB) and state pension income, Standard Life data shows. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/2a3e605/6c49cf93-c7e1-4ba5-9971-ca0a63dfd660/0/retirement-income-185x114.jpg https://www.professionalpensions.com/news/4186767/50s-income-source-split-half-half-db-pension https://www.professionalpensions.com/news/4186767/50s-income-source-split-half-half-db-pension https://www.professionalpensions.com/news/4186767/50s-income-source-split-half-half-db-pension Mon, 18 Mar 2024 15:40:46 +0000 DB transfer take up near record lows, LCP says <img alt="DB transfer take up near record lows, LCP says" src="https://www.professionalpensions.com/api/v1/wps/8197772/79447eb5-658e-47d1-8f94-d0e7203a1745/4/Pension-transfers-185x114.jpg" /> <p><!--summary start--> Defined benefit (DB) transfer take-up rates stood at 4% during Q2 2-23, a near record low, data from Lane Clark & Peacock (LCP) shows. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/8197772/79447eb5-658e-47d1-8f94-d0e7203a1745/4/Pension-transfers-185x114.jpg https://www.professionalpensions.com/news/4185963/db-transfer-near-record-lows-lcp https://www.professionalpensions.com/news/4185963/db-transfer-near-record-lows-lcp https://www.professionalpensions.com/news/4185963/db-transfer-near-record-lows-lcp Fri, 15 Mar 2024 11:00:04 +0000 FTSE 350 DB aggregate surplus experiences slight fall in February <img alt="FTSE 350 DB aggregate surplus experiences slight fall in February " src="https://www.professionalpensions.com/api/v1/wps/83b3994/63efb811-3eb0-4f1a-b151-4694c28b97ea/1/iStock-917844038-185x114.jpg" /> <p><!--summary start--> The aggregate surplus of FTSE 350 defined benefit (DB) schemes decreased narrowly in the month of February, analysis by Mercer shows. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/83b3994/63efb811-3eb0-4f1a-b151-4694c28b97ea/1/iStock-917844038-185x114.jpg https://www.professionalpensions.com/news/4185569/ftse-350-db-aggregate-surplus-experiences-slight-fall-february https://www.professionalpensions.com/news/4185569/ftse-350-db-aggregate-surplus-experiences-slight-fall-february https://www.professionalpensions.com/news/4185569/ftse-350-db-aggregate-surplus-experiences-slight-fall-february Thu, 14 Mar 2024 15:08:23 +0000 Partner Insight: You choose the endgame, we'll build the bridge <img alt="Partner Insight: You choose the endgame, we&#39;ll build the bridge" src="https://www.professionalpensions.com/api/v1/wps/9bcefc8/6d130c17-3b16-4dff-a965-432ecf0b37ed/21/Social-media-picture-185x114.jpg" /> <p><!--summary start--> <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/9bcefc8/6d130c17-3b16-4dff-a965-432ecf0b37ed/21/Social-media-picture-185x114.jpg https://www.professionalpensions.com/sponsored/4181758/lgim-endgame-24-choose-endgame-build-bridge https://www.professionalpensions.com/sponsored/4181758/lgim-endgame-24-choose-endgame-build-bridge https://www.professionalpensions.com/sponsored/4181758/lgim-endgame-24-choose-endgame-build-bridge Wed, 13 Mar 2024 07:33:14 +0000 Average time to buyout drops to 5.1 years in February <img alt="Average time to buyout drops to 5.1 years in February " src="https://www.professionalpensions.com/api/v1/wps/f5ef15d/d9465cce-b185-4019-8e3a-4e31c1fca0c1/1/iStock-1181867281-185x114.jpg" /> <p><!--summary start--> The average time to buyout for FTSE 350 defined benefit (DB) schemes decreased to 5.1 years by the end of February, analysis from Barnett Waddingham reveals. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/f5ef15d/d9465cce-b185-4019-8e3a-4e31c1fca0c1/1/iStock-1181867281-185x114.jpg https://www.professionalpensions.com/news/4184624/average-buyout-drops-february https://www.professionalpensions.com/news/4184624/average-buyout-drops-february https://www.professionalpensions.com/news/4184624/average-buyout-drops-february Tue, 12 Mar 2024 14:38:31 +0000 PPF aggregate surplus rises to £442.3bn in February <img alt="PPF aggregate surplus rises to £442.3bn in February" src="https://www.professionalpensions.com/api/v1/wps/99f44f7/d66e1b22-b568-4d24-b14b-386ab76338b0/2/revenue-up-185x114.jpg" /> <p><!--summary start--> The aggregate surplus of schemes in the Pension Protection Fund’s (PPF) 7800 index was estimated to have risen to £442.3bn at the end of February. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/99f44f7/d66e1b22-b568-4d24-b14b-386ab76338b0/2/revenue-up-185x114.jpg https://www.professionalpensions.com/news/4184497/ppf-aggregate-surplus-rises-gbp442-3bn-february https://www.professionalpensions.com/news/4184497/ppf-aggregate-surplus-rises-gbp442-3bn-february https://www.professionalpensions.com/news/4184497/ppf-aggregate-surplus-rises-gbp442-3bn-february Tue, 12 Mar 2024 10:54:13 +0000 Professional Pensions' DB Funding Index <img alt="Professional Pensions&#39; DB Funding Index" src="https://www.professionalpensions.com/api/v1/wps/a82b100/58307a62-3dfc-42ac-a869-81975dd4f8a6/53/Market-volatility-185x114.jpg" /> <p><!--summary start--> Every month, a range of firms issue trackers of the aggregate defined benefit (DB) scheme funding position. Here are all the various measures in one place, updated as latest data is released… <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/a82b100/58307a62-3dfc-42ac-a869-81975dd4f8a6/53/Market-volatility-185x114.jpg https://www.professionalpensions.com/news/4062312/professional-pensions-defined-benefit-db-pension-scheme-funding-index https://www.professionalpensions.com/news/4062312/professional-pensions-defined-benefit-db-pension-scheme-funding-index https://www.professionalpensions.com/news/4062312/professional-pensions-defined-benefit-db-pension-scheme-funding-index Tue, 12 Mar 2024 09:30:03 +0000 Just Group records 21% increase in DB scheme business <img alt="Just Group records 21% increase in DB scheme business" src="https://www.professionalpensions.com/api/v1/wps/2054d9c/583be537-1b8c-4017-8cb1-95c00f5eef10/1/Richardson-David-Just-Group-2024-185x114.jpg" /> <p><!--summary start--> Just Group has posted a 21% increase in defined benefit (DB) business, recording total sales of £3.4bn from 80 transactions during the year. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/2054d9c/583be537-1b8c-4017-8cb1-95c00f5eef10/1/Richardson-David-Just-Group-2024-185x114.jpg https://www.professionalpensions.com/news/4183568/group-records-21-increase-db-scheme-business https://www.professionalpensions.com/news/4183568/group-records-21-increase-db-scheme-business https://www.professionalpensions.com/news/4183568/group-records-21-increase-db-scheme-business Fri, 8 Mar 2024 11:18:34 +0000 DB funding levels remain stable in February, says Broadstone <img alt="DB funding levels remain stable in February, says Broadstone" src="https://www.professionalpensions.com/api/v1/wps/2952067/103b4dba-570e-4b48-809e-404bf4f3d143/2/Steady-financial-performance-iStock-1475062386-185x114.jpg" /> <p><!--summary start--> Defined benefit (DB) scheme funding levels for both fully hedged and 50% hedged schemes remained steady in February, Broadstone analysis shows. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/2952067/103b4dba-570e-4b48-809e-404bf4f3d143/2/Steady-financial-performance-iStock-1475062386-185x114.jpg https://www.professionalpensions.com/news/4183153/db-funding-levels-remain-stable-february-broadstone https://www.professionalpensions.com/news/4183153/db-funding-levels-remain-stable-february-broadstone https://www.professionalpensions.com/news/4183153/db-funding-levels-remain-stable-february-broadstone Thu, 7 Mar 2024 14:42:13 +0000 DB schemes unsure of their endgame strategy <img alt="DB schemes unsure of their endgame strategy " src="https://www.professionalpensions.com/api/v1/wps/1179a0f/78aa6fe3-6638-4863-9241-4ae2c7657ef6/3/iStock-1580751869-185x114.jpg" /> <p><!--summary start--> A considerable proportion of defined benefit (DB) schemes remain uncertain about their endgame and have yet to set their long-term strategies, research from Brightwell shows. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/1179a0f/78aa6fe3-6638-4863-9241-4ae2c7657ef6/3/iStock-1580751869-185x114.jpg https://www.professionalpensions.com/news/4181742/db-schemes-unsure-endgame-strategy https://www.professionalpensions.com/news/4181742/db-schemes-unsure-endgame-strategy https://www.professionalpensions.com/news/4181742/db-schemes-unsure-endgame-strategy Tue, 5 Mar 2024 15:13:12 +0000 Most DB schemes to offer below-inflation increases <img alt="Most DB schemes to offer below-inflation increases" src="https://www.professionalpensions.com/api/v1/wps/fb1a61c/7e48634b-570f-46eb-9417-2c79bc6dce54/4/inflation-185x114.jpg" /> <p><!--summary start--> The vast majority (91%) of defined benefit (DB) schemes are to offer below-inflation increases to their members, analysis from Broadstone finds. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/fb1a61c/7e48634b-570f-46eb-9417-2c79bc6dce54/4/inflation-185x114.jpg https://www.professionalpensions.com/news/4181720/most-db-schemes-offer-inflation-increases https://www.professionalpensions.com/news/4181720/most-db-schemes-offer-inflation-increases https://www.professionalpensions.com/news/4181720/most-db-schemes-offer-inflation-increases Tue, 5 Mar 2024 14:56:04 +0000 Most schemes looking to fixed-income endgame solutions <img alt="Most schemes looking to fixed-income endgame solutions" src="https://www.professionalpensions.com/api/v1/wps/01a54c5/ece62ed0-22f5-4a08-a0a7-5e066740543d/0/iStock-1311598658-185x114.jpg" /> <p><!--summary start--> Most schemes are considering fixed income endgame solutions as a result of higher interest rates, a survey from the Pensions Management Institute (PMI) finds. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/01a54c5/ece62ed0-22f5-4a08-a0a7-5e066740543d/0/iStock-1311598658-185x114.jpg https://www.professionalpensions.com/news/4181126/most-schemes-looking-fixed-income-endgame-solutions https://www.professionalpensions.com/news/4181126/most-schemes-looking-fixed-income-endgame-solutions https://www.professionalpensions.com/news/4181126/most-schemes-looking-fixed-income-endgame-solutions Mon, 4 Mar 2024 15:53:54 +0000 DB surpluses reach 'near record' of £154bn, XPS says <img alt="DB surpluses reach &#39;near record&#39; of £154bn, XPS says" src="https://www.professionalpensions.com/api/v1/wps/07bb3fb/b3b81430-e53d-4b7d-a862-814cc9495016/4/Arrow-pointing-up-185x114.jpg" /> <p><!--summary start--> The aggregate surplus of UK defined benefit (DB) schemes reached a “near record” of £154bn in February, analysis from XPS Pensoins Group has found. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/07bb3fb/b3b81430-e53d-4b7d-a862-814cc9495016/4/Arrow-pointing-up-185x114.jpg https://www.professionalpensions.com/news/4180855/db-surpluses-reach-near-record-gbp154bn-xps https://www.professionalpensions.com/news/4180855/db-surpluses-reach-near-record-gbp154bn-xps https://www.professionalpensions.com/news/4180855/db-surpluses-reach-near-record-gbp154bn-xps Mon, 4 Mar 2024 10:56:59 +0000 SPP: New DB funding regime will make 'little' difference to pace of scheme closures <img alt="SPP: New DB funding regime will make &#39;little&#39; difference to pace of scheme closures" src="https://www.professionalpensions.com/api/v1/wps/d499e05/c89143d8-d19d-47f9-ba06-1b8e19176383/2/iStock-620733716-185x114.jpg" /> <p><!--summary start--> The new defined benefit (DB) funding regime will have little or no impact on the pace of open scheme closures, a poll of Society of Pension Professionals members reveals. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/d499e05/c89143d8-d19d-47f9-ba06-1b8e19176383/2/iStock-620733716-185x114.jpg https://www.professionalpensions.com/news/4180385/spp-db-funding-regime-little-difference-pace-scheme-closures https://www.professionalpensions.com/news/4180385/spp-db-funding-regime-little-difference-pace-scheme-closures https://www.professionalpensions.com/news/4180385/spp-db-funding-regime-little-difference-pace-scheme-closures Fri, 1 Mar 2024 10:51:44 +0000 PPF publishes public sector consolidator design document <img alt="PPF publishes public sector consolidator design document" src="https://www.professionalpensions.com/api/v1/wps/5180f95/70f644a2-d2d8-40af-8263-6e44f9bbaa39/5/Easter-Katherine-PPF-2024-185x114.jpeg" /> <p><!--summary start--> The Pension Protection Fund (PPF) has published its initial views on how a public sector consolidator (PSC) could be structured. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/5180f95/70f644a2-d2d8-40af-8263-6e44f9bbaa39/5/Easter-Katherine-PPF-2024-185x114.jpeg https://www.professionalpensions.com/news/4180383/ppf-publishes-public-sector-consolidator-design-document https://www.professionalpensions.com/news/4180383/ppf-publishes-public-sector-consolidator-design-document https://www.professionalpensions.com/news/4180383/ppf-publishes-public-sector-consolidator-design-document Fri, 1 Mar 2024 10:45:59 +0000 DB transfer values fall by nearly 4% in January <img alt="DB transfer values fall by nearly 4% in January" src="https://www.professionalpensions.com/api/v1/wps/1173845/368a0d6c-c979-4bbd-8927-59160170abd8/6/Arrows-pointing-down-iStock-1391172877-185x114.jpg" /> <p><!--summary start--> Defined benefit (DB) transfer values fell by nearly 4% at the start of the year, research from XPS Pensions Group shows. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/1173845/368a0d6c-c979-4bbd-8927-59160170abd8/6/Arrows-pointing-down-iStock-1391172877-185x114.jpg https://www.professionalpensions.com/news/4179412/db-transfer-values-fall-nearly-january https://www.professionalpensions.com/news/4179412/db-transfer-values-fall-nearly-january https://www.professionalpensions.com/news/4179412/db-transfer-values-fall-nearly-january Wed, 28 Feb 2024 11:01:59 +0000 UK DB sponsor profit warnings rose by 6% in 2023 <img alt="UK DB sponsor profit warnings rose by 6% in 2023" src="https://www.professionalpensions.com/api/v1/wps/ad2598f/d4d9fbb7-b42e-4124-9ba1-1289cfa96681/1/Warning-symbol-iStock-1483137240-185x114.jpg" /> <p><!--summary start--> The number of profit warnings issued by UK-listed companies with a defined benefit (DB) scheme in 2023 rose by 6% against the number of warnings issued in the preceding 12 months, research from EY-Parthenon shows. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/ad2598f/d4d9fbb7-b42e-4124-9ba1-1289cfa96681/1/Warning-symbol-iStock-1483137240-185x114.jpg https://www.professionalpensions.com/news/4179176/uk-db-sponsor-profit-warnings-rose-2023 https://www.professionalpensions.com/news/4179176/uk-db-sponsor-profit-warnings-rose-2023 https://www.professionalpensions.com/news/4179176/uk-db-sponsor-profit-warnings-rose-2023 Tue, 27 Feb 2024 15:07:43 +0000 Hymans Robertson launches strategic buyout framework <img alt="Hymans Robertson launches strategic buyout framework " src="https://www.professionalpensions.com/api/v1/wps/52fa8e9/73dc29a2-289b-41ce-bb6e-839e8288075e/6/McLaren-Laura-Hymans-Robertson-roi-1-185x114.jpg" /> <p><!--summary start--> Hymans Robertson has launched a new consulting approach and digital app to enable defined benefit (DB) schemes to build and implement a buyout strategy. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/52fa8e9/73dc29a2-289b-41ce-bb6e-839e8288075e/6/McLaren-Laura-Hymans-Robertson-roi-1-185x114.jpg https://www.professionalpensions.com/news/4179128/hymans-robertson-launches-strategic-buyout-framework https://www.professionalpensions.com/news/4179128/hymans-robertson-launches-strategic-buyout-framework https://www.professionalpensions.com/news/4179128/hymans-robertson-launches-strategic-buyout-framework Tue, 27 Feb 2024 14:43:49 +0000 Three schemes consolidate into TPT's DB master trust <img alt="Three schemes consolidate into TPT&#39;s DB master trust " src="https://www.professionalpensions.com/api/v1/wps/9fb1c10/250f5d05-e0d8-4a2d-898d-95df58e09fcf/5/iStock-1439690418-185x114.jpg" /> <p><!--summary start--> TPT Retirement Solutions has announced three schemes have opted to consolidate into its defined benefit (DB) master trust. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/9fb1c10/250f5d05-e0d8-4a2d-898d-95df58e09fcf/5/iStock-1439690418-185x114.jpg https://www.professionalpensions.com/news/4178971/schemes-consolidate-tpts-db-master-trust https://www.professionalpensions.com/news/4178971/schemes-consolidate-tpts-db-master-trust https://www.professionalpensions.com/news/4178971/schemes-consolidate-tpts-db-master-trust Tue, 27 Feb 2024 10:55:30 +0000 Industry welcomes DWP focus on DB surplus <img alt="Industry welcomes DWP focus on DB surplus" src="https://www.professionalpensions.com/api/v1/wps/db667dc/ab9f1e1d-816c-4eac-8d52-27d276e38148/2/Consultation-docments-185x114.jpg" /> <p><!--summary start--> The industry has welcomed the Department for Work and Pensions’ (DWP) focus on enabling defined benefit (DB) surplus extraction and a public sector consolidator following its consultation. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/db667dc/ab9f1e1d-816c-4eac-8d52-27d276e38148/2/Consultation-docments-185x114.jpg https://www.professionalpensions.com/news/4178291/industry-welcomes-dwp-focus-db-surplus https://www.professionalpensions.com/news/4178291/industry-welcomes-dwp-focus-db-surplus https://www.professionalpensions.com/news/4178291/industry-welcomes-dwp-focus-db-surplus Mon, 26 Feb 2024 16:14:29 +0000 LGPS aggregate funding climbs to 104% on a low-risk basis <img alt="LGPS aggregate funding climbs to 104% on a low-risk basis " src="https://www.professionalpensions.com/api/v1/wps/9d8e9ec/dce6d6ba-dc76-4592-9d7e-5341859298ae/2/iStock-1492227256-185x114.jpg" /> <p><!--summary start--> The aggregate funding level of the Local Government Pension Scheme (LGPS) in England and Wales climbed to 104% on a low-risk basis at the end of January, research from Isio shows. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/9d8e9ec/dce6d6ba-dc76-4592-9d7e-5341859298ae/2/iStock-1492227256-185x114.jpg https://www.professionalpensions.com/news/4178736/lgps-aggregate-funding-climbs-104-low-risk-basis https://www.professionalpensions.com/news/4178736/lgps-aggregate-funding-climbs-104-low-risk-basis https://www.professionalpensions.com/news/4178736/lgps-aggregate-funding-climbs-104-low-risk-basis Mon, 26 Feb 2024 15:26:22 +0000 TPR: Total deficit of DB schemes halved since 2022 <img alt="TPR: Total deficit of DB schemes halved since 2022" src="https://www.professionalpensions.com/api/v1/wps/2d39cfc/5c1fac83-3f29-45bb-8a27-d8e431a73d46/1/iStock-1134093684-185x114.jpg" /> <p><!--summary start--> The total number of occupational defined benefit (DB) and hybrid schemes has decreased by 2% over the last year, latest figures from The Pensions Regulator (TPR) show. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/2d39cfc/5c1fac83-3f29-45bb-8a27-d8e431a73d46/1/iStock-1134093684-185x114.jpg https://www.professionalpensions.com/news/4176109/tpr-total-deficit-db-schemes-halved-2022 https://www.professionalpensions.com/news/4176109/tpr-total-deficit-db-schemes-halved-2022 https://www.professionalpensions.com/news/4176109/tpr-total-deficit-db-schemes-halved-2022 Tue, 20 Feb 2024 11:04:58 +0000 Risk transfer volumes reach record levels in 2023 <img alt="Risk transfer volumes reach record levels in 2023 " src="https://www.professionalpensions.com/api/v1/wps/288d20f/a5260ff2-d54d-4327-b7c4-563c67c94d8d/2/iStock-1343338894-185x114.jpg" /> <p><!--summary start--> The UK pension risk transfer (PRT) market saw record volumes in 2023 while volumes in the United States were the second largest on record, Legal & General research shows. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/288d20f/a5260ff2-d54d-4327-b7c4-563c67c94d8d/2/iStock-1343338894-185x114.jpg https://www.professionalpensions.com/news/4175566/risk-transfer-volumes-reach-record-levels-2023 https://www.professionalpensions.com/news/4175566/risk-transfer-volumes-reach-record-levels-2023 https://www.professionalpensions.com/news/4175566/risk-transfer-volumes-reach-record-levels-2023 Mon, 19 Feb 2024 10:53:11 +0000 FTSE350 pension surpluses rise by £17bn in January <img alt="FTSE350 pension surpluses rise by £17bn in January" src="https://www.professionalpensions.com/api/v1/wps/2737b71/d66e1b22-b568-4d24-b14b-386ab76338b0/0/revenue-up-185x114.jpg" /> <p><!--summary start--> The aggregate surplus of FTSE350 pension funds rose by £17bn in January as a result of increases to bond yields, Mercer analysis has found. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/2737b71/d66e1b22-b568-4d24-b14b-386ab76338b0/0/revenue-up-185x114.jpg https://www.professionalpensions.com/news/4175081/ftse350-pension-surpluses-rise-gbp17bn-january https://www.professionalpensions.com/news/4175081/ftse350-pension-surpluses-rise-gbp17bn-january https://www.professionalpensions.com/news/4175081/ftse350-pension-surpluses-rise-gbp17bn-january Fri, 16 Feb 2024 10:19:54 +0000 DB transfers increased at end of last year <img alt="DB transfers increased at end of last year" src="https://www.professionalpensions.com/api/v1/wps/8197772/79447eb5-658e-47d1-8f94-d0e7203a1745/4/Pension-transfers-185x114.jpg" /> <p><!--summary start--> The value of defined benefit (DB) cash equivalent transfer values (CETVs) increased at the end of last year, Barnett Waddingham analysis finds. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/8197772/79447eb5-658e-47d1-8f94-d0e7203a1745/4/Pension-transfers-185x114.jpg https://www.professionalpensions.com/news/4173961/db-transfers-increased-end-last https://www.professionalpensions.com/news/4173961/db-transfers-increased-end-last https://www.professionalpensions.com/news/4173961/db-transfers-increased-end-last Wed, 14 Feb 2024 10:18:50 +0000 CMI consults on update to projections model <img alt="CMI consults on update to projections model" src="https://www.professionalpensions.com/api/v1/wps/2786730/c178eb5d-68bf-4eeb-9b7d-a10f7cb971c9/0/calculator-1680905-1920-185x114.jpg" /> <p><!--summary start--> The Continuous Mortality Investigation (CMI) has released a consultation on its annual update to its life expectancy model, ‘CMI_2023’. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/2786730/c178eb5d-68bf-4eeb-9b7d-a10f7cb971c9/0/calculator-1680905-1920-185x114.jpg https://www.professionalpensions.com/news/4173673/cmi-consults-update-projections-model https://www.professionalpensions.com/news/4173673/cmi-consults-update-projections-model https://www.professionalpensions.com/news/4173673/cmi-consults-update-projections-model Tue, 13 Feb 2024 15:14:25 +0000 PPF 7800 surplus decreased to £425.4bn in January <img alt="PPF 7800 surplus decreased to £425.4bn in January" src="https://www.professionalpensions.com/api/v1/wps/d3eae28/a0a45a65-2acc-499f-8bdd-876e5af20440/6/profits-down-185x114.jpg" /> <p><!--summary start--> The aggregate surplus of the 5,050 defined benefit (DB) schemes in the Pension Protection Fund (PPF) 7800 index fell to £425.4bn at the end of January this year. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/d3eae28/a0a45a65-2acc-499f-8bdd-876e5af20440/6/profits-down-185x114.jpg https://www.professionalpensions.com/news/4173445/ppf-7800-surplus-decreased-gbp425-4bn-january https://www.professionalpensions.com/news/4173445/ppf-7800-surplus-decreased-gbp425-4bn-january https://www.professionalpensions.com/news/4173445/ppf-7800-surplus-decreased-gbp425-4bn-january Tue, 13 Feb 2024 10:48:30 +0000 Scheme surpluses increasingly seen as assets by corporate sponsors <img alt="Scheme surpluses increasingly seen as assets by corporate sponsors" src="https://www.professionalpensions.com/api/v1/wps/e07892b/634469dd-1d6a-4c0b-b2e7-213928020003/1/GBP-assets-surpluses-iStock-1504303287-185x114.jpg" /> <p><!--summary start--> Pension scheme surpluses are increasingly being seen as assets by sponsoring employers and may need “greater consideration” when conducting corporate transactions, consultants say. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/e07892b/634469dd-1d6a-4c0b-b2e7-213928020003/1/GBP-assets-surpluses-iStock-1504303287-185x114.jpg https://www.professionalpensions.com/news/4173120/scheme-surpluses-increasingly-seen-assets-corporate-sponsors https://www.professionalpensions.com/news/4173120/scheme-surpluses-increasingly-seen-assets-corporate-sponsors https://www.professionalpensions.com/news/4173120/scheme-surpluses-increasingly-seen-assets-corporate-sponsors Mon, 12 Feb 2024 14:52:40 +0000 Broadstone: Mixed fortunes for DB funding levels in January <img alt="Broadstone: Mixed fortunes for DB funding levels in January" src="https://www.professionalpensions.com/api/v1/wps/3e2cf58/1fa248ed-f453-4d35-92f8-094996d2490d/1/iStock-1466391556-185x114.jpg" /> <p><!--summary start--> Defined benefit (DB) scheme funding levels experienced mixed fortunes during January, research from Broadstone has shown. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/3e2cf58/1fa248ed-f453-4d35-92f8-094996d2490d/1/iStock-1466391556-185x114.jpg https://www.professionalpensions.com/news/4172205/broadstone-mixed-fortunes-db-funding-levels-january https://www.professionalpensions.com/news/4172205/broadstone-mixed-fortunes-db-funding-levels-january https://www.professionalpensions.com/news/4172205/broadstone-mixed-fortunes-db-funding-levels-january Fri, 9 Feb 2024 10:33:46 +0000 Tesco DB scheme appoints Schroders as OCIO <img alt="Tesco DB scheme appoints Schroders as OCIO" src="https://www.professionalpensions.com/api/v1/wps/926cd48/8425cfaa-b9a0-43ad-9e48-fc885dd1467e/2/Tesco-iStock-1461624281-185x114.jpg" /> <p><!--summary start--> Schroders Solutions is set to manage the benefits of the closed Tesco Defined Benefit (DB) Pension Scheme as its new outsourced chief investment officer (OCIO). <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/926cd48/8425cfaa-b9a0-43ad-9e48-fc885dd1467e/2/Tesco-iStock-1461624281-185x114.jpg https://www.professionalpensions.com/news/4171955/tesco-db-scheme-appoints-schroders-ocio https://www.professionalpensions.com/news/4171955/tesco-db-scheme-appoints-schroders-ocio https://www.professionalpensions.com/news/4171955/tesco-db-scheme-appoints-schroders-ocio Thu, 8 Feb 2024 15:18:19 +0000 The changing environment for larger DB schemes: Part 2 <img alt="The changing environment for larger DB schemes: Part 2" src="https://www.professionalpensions.com/api/v1/wps/f27fbd1/f1be5586-f8d0-40ec-aa04-7aacb42f0197/4/Group-shot-Pro-Pensions-Russell-Invest-347-185x114.jpg" /> <p><!--summary start--> At the beginning of April last year, Professional Pensions assembled a panel of experts to discuss some of the challenges larger defined benefit (DB) schemes were facing and how they were looking to address them. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/f27fbd1/f1be5586-f8d0-40ec-aa04-7aacb42f0197/4/Group-shot-Pro-Pensions-Russell-Invest-347-185x114.jpg https://www.professionalpensions.com/sponsored/4170466/changing-environment-larger-db-schemes https://www.professionalpensions.com/sponsored/4170466/changing-environment-larger-db-schemes https://www.professionalpensions.com/sponsored/4170466/changing-environment-larger-db-schemes Tue, 6 Feb 2024 14:57:06 +0000 Tender Watch: Essex County Council seeks pensions and payroll administrator <img alt="Tender Watch: Essex County Council seeks pensions and payroll administrator" src="https://www.professionalpensions.com/api/v1/wps/d47fe42/a64e4afc-48b2-4a0b-bf0c-d18542a6e71b/85/contract-magnifying-glass-185x114.jpeg" /> <p><!--summary start--> Professional Pensions rounds up some of the latest tender awards from across the industry. <!--summary end--></p> https://www.professionalpensions.com/api/v1/wps/d47fe42/a64e4afc-48b2-4a0b-bf0c-d18542a6e71b/85/contract-magnifying-glass-185x114.jpeg https://www.professionalpensions.com/news/4032156/tender-watch-pensions-industry https://www.professionalpensions.com/news/4032156/tender-watch-pensions-industry https://www.professionalpensions.com/news/4032156/tender-watch-pensions-industry Tue, 6 Feb 2024 08:37:11 +0000