The number of defined benefit (DB) scheme members with benefits protected by an insurer will double by the middle of the decade, according to Lane Clark & Peacock (LCP).
Aviva Life & Pensions has concluded an £875m buy-in with its own staff pension scheme, following on from a similar transaction last year.
Nearly every trustee is confident of the next stage in their scheme’s strategy, despite almost an equal number being forced to consider replacing plans within the prior 12 months, according to research by Barnett Waddingham.
The Retail Prices Index (RPI) will be reformed and aligned with the housing cost-based version of the Consumer Prices Index, known as CPIH, by 2030, the Treasury has confirmed.
Companies could be overstating their pension liabilities by up to £60bn due to their life expectancy assumptions, according to XPS Pensions Group.
More than £130bn of company funds are tied up in pension schemes specifically due to lower than expected levels of life expectancy improvements over the last decade, according to PwC.
Just Group has completed a £74m pensioner buy-in with the UK pension scheme of a US-listed engineering business.
Brunel Pension Partnership has launched two investment vehicles to target infrastructure assets that meet Paris Agreement objectives for its partner funds.
Seven directors of the Trustee Corporation have been accredited under the Pensions Management Institute’s (PMI) Aptitude programme.
The Smiths Industries Pension Scheme has secured a £146m buy-in with Canada Life in its fourth bulk annuity and its sponsor’s tenth overall.
A proposal to ensure savers receive a Pension Wise appointment prior to accessing their retirement pot has received cross-party support in parliament, while Labour seeks net-zero pensions by 2050.
Schroders has launched a multi-private credit fund (MPCF) for UK defined benefit (DB) schemes in response to growing demand for long-term and alternative income streams.
Trustees must know the signs of sponsor distress and be prepared to act quickly as the “first line of defence” for savers, The Pensions Regulator (TPR) has warned.
Former BHS owner Dominic Chappell potentially faces his fourth personal bankruptcy in order to pay £9.5m of contributions he owes to the failed retailer’s pension schemes.
The Prudential Staff Pension Scheme has entered into a £3.7bn longevity swap with Pacific Life Re, insuring the longevity risk of over 20,000 pensioners.
The Baker Hughes (UK) Pension Plan has secured approximately £100m of liabilities through a buy-in with Just Group.
The Reckitt Benckiser Pension Fund has secured a £415m buy-in with Scottish Widows, insuring the benefits of around half of pensioners.
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the October 2020 estimates on the various measures…
Just Group has insured £22m of benefits for pensioners at two unnamed schemes, with support from K3 Advisory and Cartwright Benefit Solutions.
Deloitte has expanded its pensions business with the acquisition with the pension administration and actuarial consultancy business of Kerr Henderson.
Former BHS owner Dominic Chappell has been given a six-year prison sentence for failing to pay tax on income from his purchase of the failed retail giant.
The Marks and Spencer (M&S) Pension Scheme has completed two buy-ins with Aviva and Phoenix, insuring a total of £750m of benefits.
The BHS Senior Management Scheme has agreed a £2.5m buy-in with Legal & General (L&G) Assurance Society, securing benefits outside of the Pension Protection Fund (PPF).
Supply will need to be rebuilt following the forced shutdown, potentially pushing up inflation and reasserting the need for adequate hedges, writes James Phillips
Pension savers have held off from making changes to their pensions despite nearly half having been impacted by the pandemic, research finds.
Providers are failing to engage early with their independent governance committees (IGCs) over the rollout of investment pathways despite the looming 1 February deadline, they have been warned.
The Wales Pension Partnership (WPP) has opened a series of fixed income funds for its eight constituent authorities, all of which will be investing.
Around £6bn of UK pension fund monies should be invested in a National Renewal Fund aimed at recapitalising 21,000 growth economy businesses, a report suggests.
The Hewlett Packard Retirement Benefit Plan has reappointed EQ Paymaster as its third-party administrator (TPA) for five years.
Sole trustees will be expected to assess whether to report to The Pensions Regulator (TPR) if they are removed, or resign, from an appointment because of sponsor’s actions.
The Old British Steel Pension Scheme (OBSPS) has agreed a £2bn full buy-in with Pension Insurance Corporation (PIC), one step closer to exiting Pension Protection Fund (PPF) assessment.
Pension scheme trustees and sponsors should only seek to transfer members’ benefits to a defined benefit (DB) consolidator if there is no “realistic prospect of buyout in the foreseeable future”, The Pensions Regulator (TPR) says.
Just Group has completed a £340m buy-in with the Ibstock Pension Scheme in the insurer’s largest ever bulk annuity transaction.
Just Group has launched its inaugural green bond, raising £250m and becoming the first UK insurer to launch such an asset.
Around one in 25 pension schemes have made use of regulatory easements to deficit recovery contribution (DRC) payment schedules, according to The Pensions Regulator (TPR).
Morten Nilsson explains why the BTPS is aiming to be net zero on carbon emissions by 2035, and how it plans to get there.
Richard Butcher is set to spend another year as Pensions and Lifetime Savings Association (PLSA) chair as the trade body proposes his term is extended to autumn 2021.
Brunel Pension Partnership has launched a £300m multi-manager sub-fund focused on global small cap equities.
Two in five UK defined benefit (DB) schemes expect to complete a bulk annuity or longevity swap transaction within the next three years, Willis Towers Watson research finds.
A second pensions bill is likely during the “life of this parliament”, according to pensions and financial inclusion minister Guy Opperman.
A “legitimate debate and discussion” is needed over future auto-enrolment (AE) contribution rates, says Guy Opperman, and that could take place next year.
Sponsor covenants are facing a “triple whammy” moving into 2021 as the effects of Covid-19, Brexit and macro-economic conditions combine, Lincoln Pensions warns.
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the September 2020 estimates on the various measures…
Birthday honours have been awarded to pensions industry giants Mark Boyle and Sara Protheroe in recognition of their “outstanding achievements”.
The pensions industry is being given a fresh chance to feed into the Pension Schemes Bill as the Public Bill Committee launches a call for written evidence.
Smart has formally entered the American pensions market ahead of the launch of a record-keeping solution for pension equity plans in 2021.
The Pension Protection Fund (PPF) has an 83% probability of success for its target of being self-sufficient by 2030 as of March this year, a six percentage point drop from 2019.
Fewer pension schemes are targeting self-sufficiency as their long-term objective while bulk annuity pricing improves and the consolidation market opens up.