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      Defined Benefit Consolidation Conference

      Professional Pensions is hosting this concise digital event on the 25th March to provide a crucial update on where the current regulation stands on DB Consolidators, assess the different models available, what the expected funding levels are and the governance requirements. This event will be a combination of short presentations followed by live Q&A’s with our expert speakers allowing plenty of time to answer your questions.

      • Date: 25 Mar 2021
      • Digital Conference
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      Defined Contribution Conference

      Professional Pensions Defined Contribution virtual event, hopes to take stock of the last year, and ask the important questions; are members saving enough and have we improved the member journey at retirement? This two part digital event will provide you with the latest thinking and innovation in the DC market during our snappy 15 minute presentations, with plenty of time to ask questions during our live speaker Q&A.

      • Date: 20 Apr 2021
      • Digital Conference
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      Sustainable Investment Festival 2021

      The Sustainable Investment Festival will run online from 22-25 June and will include thought-provoking presentations from renowned keynote speakers, innovative breakout events and sessions specifically tailored to meet the information needs of fund selectors, financial advisers, pension consultants, trustees and scheme managers.

      • Date: 22 Jun 2021
      • Online, Online
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      UK Pensions Awards 2021

      The UK Pensions Awards – now in their 24th year – remain the industry's most prestigious accolades. They shine the light on excellence and recognise the advisers, providers and investment managers that offer the highest level of innovation, performance and service to occupational pension schemes and their members, and have done the most to improve this over the past year.

      • Date: 14 Sep 2021
      • London
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  • Whitepapers
    • How DC schemes can gain exposure to different asset classes in a low-return environment

      So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap,' ‘pension freedoms' or consultations around ‘value for money', says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).

      Download
      Pension freedoms three years on

      In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme members in the world of pensions.

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Kristian Brunt-Seymour

Kristian is Senior Correspondent at Professional Pensions covering pensions-related news, commentary and analysis for finance, HR and benefits professionals.

This includes risk reduction, risk management, defined benefit, defined contribution, auto-enrolment, law, legislation and regulation.

Kristian over four years experience as an NCTJ-accredited journalst. He is also a member of the National Union of Journalists (NUJ).

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Articles by Kristian Brunt-Seymour

Will future demand for bulk annuities squeeze supply?
Will future demand for bulk annuities squeeze supply?

With demand for bulk annuities predicted to reach £350bn by 2026, supply may not be able to keep up, which could push up pricing. Kristian Brunt-Seymour looks at whether it is an issue and what it means for schemes.

  • Defined Benefit
  • 21 September 2016
PPF hires head of investment strategy
PPF hires head of investment strategy

Ian Scott has joined the Pension Protection Fund (PPF) in a new role as head of investment strategy.

  • Appointments
  • 20 September 2016
PTL hires client manager
PTL hires client manager

Pitmans Trustees (PTL) has appointed Lesley Peek as client manager to oversee the day-to-day management and governance of defined benefit (DB) and defined contribution (DC) schemes.

  • Defined Benefit
  • 20 September 2016
Margaret Snowdon joins pensions dashboard steering group
Margaret Snowdon joins pensions dashboard steering group

Margaret Snowdon has been appointed by HM Treasury to join the steering group for the pensions dashboard prototype project.

  • Industry
  • 19 September 2016
What were the top pension stories last week?
What were the top pension stories last week?

The most popular stories were a potential RAA for British Steel Pension Scheme if the government shelves plans to change pension law, and Treasury plans to launch the pensions dashboard by next Spring.

  • Defined Benefit
  • 16 September 2016
PPF proposes changes to s143 and s179 valuation assumptions
PPF proposes changes to s143 and s179 valuation assumptions

The Pension Protection Fund (PPF) has launched a consultation on changes to actuarial assumptions in valuations used in sponsor insolvencies and to determine risk-based levies.

  • Defined Benefit
  • 16 September 2016
PPF 7800 deficit almost doubles in a year
PPF 7800 deficit almost doubles in a year

The total funding level of the Pension Protection Fund (PPF) 7800 index has worsened for the fourth month in a row, after further gilt yield falls.

  • Defined Benefit
  • 13 September 2016
PMI to assess pensions apprenticeship qualification
PMI to assess pensions apprenticeship qualification

The Pensions Management Institute (PMI) will assess the Workplace Pensions Trailblazer Apprenticeship.

  • Defined Contribution
  • 13 September 2016
Employees want monthly pension checks at work
Employees want monthly pension checks at work

Nearly three-quarters (73%) of staff would welcome monthly pension checks during work hours according to Aegon research.

  • Defined Contribution
  • 13 September 2016
Primark's owner falls into pension deficit
Primark's owner falls into pension deficit

Associated British Foods (ABF) expects its defined benefit (DB) scheme to have a £200m deficit by the end of 2016 due to tumbling bond yields.

  • Defined Benefit
  • 12 September 2016
Savers stick by pensions despite post-Brexit confidence fall
Savers stick by pensions despite post-Brexit confidence fall

People's optimism in their retirement saving plans has dropped since Brexit according to research by Scottish Widows.

  • Defined Contribution
  • 07 September 2016
Research shows generational gulf in spouse pension provision
Research shows generational gulf in spouse pension provision

Aegon has warned of a retirement shortfall for the bereaved as pre-retirees are increasingly not arranging for pension payments to go to their partners after death.

  • Defined Contribution
  • 05 September 2016
Conditional indexation would be 'thin end of the wedge'
Conditional indexation would be 'thin end of the wedge'

Struggling sponsoring employers of defined benefit (DB) schemes should not be allowed to suspend annual pension increases according to PP research.

  • Defined Benefit
  • 02 September 2016
Four insurers set to enter bulk annuity market by 2021
Four insurers set to enter bulk annuity market by 2021

The number of bulk annuity market participants is expected to rise by 57% over the next five years according to Barnett Waddingham.

  • Defined Benefit
  • 01 September 2016
DB deficit surges £100bn in August
DB deficit surges £100bn in August

The total deficit for defined benefit (DB) schemes reached £710bn on a funding basis by 29 August amid further falls in gilt yields.

  • Defined Benefit
  • 01 September 2016
Pirelli enters £600m longevity swap
Pirelli enters £600m longevity swap

Pirelli has completed a longevity swap transaction with Zurich for £600m of liabilities across its two main defined benefit (DB) pension schemes.

  • Defined Benefit
  • 31 August 2016
Just 5% of FTSE 250 firms still run large DB schemes
Just 5% of FTSE 250 firms still run large DB schemes

Only 11 companies in the FTSE 250 provide defined benefit (DB) pensions for a significant number of employees, according to JLT Employee Benefits.

  • Defined Benefit
  • 31 August 2016
Have deferred members been priced out of bulk annuities?
Have deferred members been priced out of bulk annuities?

Deferred members dominate the DB universe but the high cost of insuring them makes bulk annuities out of reach for many schemes, even more so since the introduction of Solvency II. Kristian Brunt-Seymour explores what schemes can do.

  • Defined Benefit
  • 18 August 2016
PPF publishes guide on restructuring and insolvency
PPF publishes guide on restructuring and insolvency

The Pension Protection Fund (PPF) has published its latest restructuring principles and guidance for insolvency professionals.

  • Defined Benefit
  • 16 August 2016
Nestlé agrees with unions to keep career average scheme
Nestlé agrees with unions to keep career average scheme

Nestlé has agreed a deal with trade unions to secure its £3.8bn career average defined benefit (DB) scheme after the company had tried to close it down.

  • Defined Benefit
  • 15 August 2016
Halcrow members embrace new scheme following restructure
Halcrow members embrace new scheme following restructure

Over 2500 members of Halcrow Pension Scheme have agreed to transfer into a new scheme that lowers benefits but keeps them out of the Pension Protection Fund (PPF).

  • Defined Benefit
  • 15 August 2016
What were the top pension stories this week?
What were the top pension stories this week?

This week's biggest stories included Lloyds' trade union taking legal action over GMP equalisation, a same sex partner benefits appeal case, and asset managers arguing hidden fees are the 'Loch Ness Monster of investments'.

  • Defined Benefit
  • 12 August 2016
Industry rejects advisers and providers 'cold calling'
Industry rejects advisers and providers 'cold calling'

The telephone is the least popular way to communicate with a prospective client, according to PP research.

  • Industry
  • 11 August 2016
Bulk annuity market slumps in H1 after bumper 2015
Bulk annuity market slumps in H1 after bumper 2015

Buy-in and buyout deals slowed down in the first six months to £2.7bn, which is just over half of business written in H1 last year, according to LCP.

  • Defined Benefit
  • 11 August 2016
Scottish Power enters £1bn longevity swap
Scottish Power enters £1bn longevity swap

Scottish Power has completed a longevity swap with Abbey Life to hedge £1bn of liabilities, covering 4,000 pensioners in the Manweb section of the Electricity Supply Pension Scheme.

  • Risk Reduction
  • 10 August 2016
Amec Foster Wheeler shuts DB schemes; merges into DC
Amec Foster Wheeler shuts DB schemes; merges into DC

Amec Foster Wheeler has merged its two main defined benefit (DB) schemes into a defined contribution (DC) arrangement after closing the biggest fund to future accrual.

  • Defined Benefit
  • 10 August 2016
AE reaches 200,000 employer milestone
AE reaches 200,000 employer milestone

More than 200,000 companies have completed their workplace pension automatic enrolment (AE) duties according the Pensions Regulator (TPR).

  • Defined Contribution
  • 09 August 2016
'Temporary bulk annuities' could help schemes meet cash flow needs
'Temporary bulk annuities' could help schemes meet cash flow needs

Defined benefit (DB) pension schemes could have access to much-needed cash flow through a short-term equivalent of a buy-in service, according to PwC.

  • Defined Benefit
  • 09 August 2016
FTSE350 deficits rise 50% in 5 years despite £75bn contributions
FTSE350 deficits rise 50% in 5 years despite £75bn contributions

Defined benefit (DB) deficits at FTSE350 companies have swelled by £34bn since 2010 despite £15bn being paid into them annually.

  • Defined Benefit
  • 08 August 2016
RBS scheme hits surplus after cash injection
RBS scheme hits surplus after cash injection

Royal Bank of Scotland's (RBS) defined benefit (DB) pension scheme has reached 120% funding after the bank made a big cash payment to plug its deficit hole.

  • Defined Benefit
  • 08 August 2016
Agathangelou leaves CIPP and Friends of Auto Enrolment
Agathangelou leaves CIPP and Friends of Auto Enrolment

Andy Agathangelou has left the Friends of Auto Enrolment (FAE) two and half years after founding the association for the Chartered Institute of Payroll Professionals (CIPP).

  • Industry
  • 08 August 2016
The 15 ways companies can legally avoid pension deficits
The 15 ways companies can legally avoid pension deficits

Damning research by the Pensions Institute has uncovered a number of ways by which sponsoring employers can shed or avoid their defined benefit (DB) deficits.

  • Defined Benefit
  • 04 August 2016
RBS re-opens union talks over NI costs as strike action looms
RBS re-opens union talks over NI costs as strike action looms

Royal Bank of Scotland (RBS) has resumed talks with unions over national insurance (NI) contribution costs being passed onto its 27,000 defined benefit (DB) scheme members.

  • Defined Benefit
  • 04 August 2016
Action urged to tackle sponsors 'milking and dumping' DB schemes
Action urged to tackle sponsors 'milking and dumping' DB schemes

The government should give the regulator more powers to prevent companies from avoiding defined benefit (DB) deficits, according to a Pensions Institute report.

  • Defined Benefit
  • 03 August 2016
Lady Barbara Judge: We should make AE compulsory
Lady Barbara Judge: We should make AE compulsory

The former chairwoman of the Pension Protection Fund (PPF) has called for the removal of the choice for employees to opt out of auto-enrolment (AE).

  • Defined Contribution
  • 02 August 2016
Trinity Mirror's DB deficit rises 40% in H1
Trinity Mirror's DB deficit rises 40% in H1

Trinity Mirror Group's defined benefit (DB) pension deficit has increased by £120.8m to £426m in the past six months, driven by a fall in long-term interest rates.

  • Defined Benefit
  • 01 August 2016
Schemes have just one month to apply for FAS
Schemes have just one month to apply for FAS

The Financial Assistance Scheme (FAS) service will close to new applications from pension funds on 1 September.

  • Defined Benefit
  • 01 August 2016
DB liabilities climb by £100bn over July
DB liabilities climb by £100bn over July

Total deficits of UK defined benefit (DB) schemes have reached an all-time high for the sixth month in a row, according to JLT Employee Benefits.

  • Defined Benefit
  • 01 August 2016
Industry rejects returning PPF surplus funds to levy payers
Industry rejects returning PPF surplus funds to levy payers

Any surplus funds the Pension Protection Fund (PPF) accumulates should not be returned to the levy payers who provided them, according to almost 60% of respondents.

  • Defined Benefit
  • 01 August 2016
Four ways to save DB
Four ways to save DB

The industry has come up with various ways to solve the numerous challenges faced by DB schemes. Kristian Brunt-Seymour examines responses to the DB Taskforce's call for evidence.

  • Defined Benefit
  • 29 July 2016
Halcrow Pensioners' Association withdraws legal challenge over Halcrow Pension Scheme restructuring
Halcrow Pensioners' Association withdraws legal challenge over Halcrow Pension Scheme restructuring

The Halcrow Pensioners' Association (HPA) has withdrawn its Upper Tribunal challenge of the Halcrow Pension Scheme restructuring after facing the threat of spiralling legal costs.

  • Defined Benefit
  • 28 July 2016
Aegon agrees annuity referral deal with L&G
Aegon agrees annuity referral deal with L&G

Aegon has agreed an annuity referral partnership with Legal & General (L&G) as part of the insurer's plans to stop writing all new annuities in the fourth quarter.

  • Defined Benefit
  • 28 July 2016
Club Vita and L&G launch automated longevity swap pricing
Club Vita and L&G launch automated longevity swap pricing

Club Vita has joined forces with Legal & General (L&G) to make longevity insurance solutions more accessible for smaller defined benefit (DB) pension schemes.

  • Defined Benefit
  • 28 July 2016
Inconsistency in DC default could lead to greater opt-outs
Inconsistency in DC default could lead to greater opt-outs

Lack of consistency across defined contribution (DC) default funds may result in larger numbers of members opting out, Punter Southall Aspire has warned.

  • Defined Contribution
  • 25 July 2016
TPR launches pension trusteeship paper
TPR launches pension trusteeship paper

The Pensions Regulator (TPR) has published a discussion paper on how to drive up standards of pensions trusteeship and shape future regulatory policy.

  • Law and Regulation
  • 22 July 2016
PPF posts £4.1bn surplus as confidence rating soars to highest level
PPF posts £4.1bn surplus as confidence rating soars to highest level

The likelihood of the Pension Protection Fund (PPF) meeting its 2030 self-sufficiency target has risen to 93% in its 2015/16 report.

  • Defined Benefit
  • 22 July 2016
Can sponsor covenants withstand further market volatility?
Can sponsor covenants withstand further market volatility?

The Brexit vote has increased the strain on companies funding DB funds. Kristian Brunt-Seymour explores how schemes can contingency plan in the face of uncertainty.

  • Defined Benefit
  • 22 July 2016
Bulk annuity business slumps in first half of 2016
Bulk annuity business slumps in first half of 2016

The volume of bulk annuity deals written in the first half of 2016 was 40% smaller compared to the previous year, according to Aon Hewitt.

  • Defined Benefit
  • 21 July 2016
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