As deficits soared following the Bank of England's rate cut and stimulus package, the future for DB looks even more challenging. A major re-think is needed to avert a pensions crisis, writes Stephanie Baxter
At a glance Action is needed to prevent increase in schemes falling into PPF Increased calls to ditch traditional gilts plus measure for liabilities Case for allowing schemes to move from...
The Pensions and Lifetime Savings Association (PLSA) has expressed it is disappointed with the Department for Work and Pensions’ (DWP) general levy consultation – saying there should be no increase in the levy without structural reform.
Defined benefit (DB) scheme trustees are looking to their schemes to provide them with better technological support, with eight in ten agreeing ad-hoc and online meetings will permanently replace the pre-Covid quarterly meeting cycle.
Average transfer takes 11.9 days
The Aberdeen City Council Transport Fund has agreed a £230m buy-in with Rothesay in the insurer’s first deal with a Local Government Pension Scheme (LGPS) fund.
The Legal & General (L&G) Group UK Senior Pension Scheme has agreed an assured payment policy (APP) deal with its insurer sponsor.