The High Court must bless a settlement between British Airways (BA) and the trustees of the Airways Pension Scheme (APS) to achieve certainty and bring to an end the acrimonious six-year dispute, it has been told.
This week’s 96 Pensions Buzz respondents said good governance was more important than member engagement, noting the former could lead to the latter.
The pension schemes bill will face yet another delay as the UK seems set to have its third general election in five years on 12 December.
Pension schemes face higher liabilities as improvements in mortality rates trend towards their highest level in a decade.
British Airways (BA) has pledged an extra £150m in annual deficit recovery contributions (DRCs) to the New Airways Pension Scheme (NAPS) over the next four years.
There has been a 30% reduction in the number of small scheme buy-in and buyout transactions, highlighting how insurer attention has shifted towards larger deals.
The Pension Protection Fund (PPF) has launched a retendering process for firms to sit on its assessment period trustee panel, with an increased focus on corporate restructures and insolvency proceedings.
KPMG has confirmed it has entered into exclusive talks with Exponent Private Equity to sell its pensions advisory unit.
Many schemes are actively thinking about defined benefit (DB) consolidation and are waiting in the wings for the superfunds to prove themselves before engaging, Clara says.
Small schemes are facing “obvious challenges” in grabbing insurer attention as “jumbo” deals are beginning to typify the bulk annuity market, Aon says.
Almost £35bn of defined benefit (DB) liabilities have now been insured this year after yet another giant buy-in by the Asda Group Pension Scheme with Rothesay Life.
The Pensions Regulator (TPR) will now seek to publish the first of two consultations on a revised defined benefit (DB) funding code in the new year, depending on the political environment.
The pensions schemes bill will digitalise pensions and provide savers with greater confidence for retirement, Guy Opperman has said.
The Pensions and Lifetime Savings Association (PLSA) will play a more proactive role in bringing people together and act as captain of the industry, its chief executive Julian Mund has said.
The Kent Pension Fund has reassured members that the closure of Woodford Investment Management will not affect its ability to pay benefits.
The government will change the law to allow the Pension Protection Fund (PPF) to aggregate pensions for the purposes of calculating compensation.
HM Treasury has announced that the government’s next Budget will take place on 6 November, although this depends on the outcome of the Brexit negotiations.
A pension schemes bill is set to be laid in parliament in the coming weeks after the government announced a wide-ranging suite of reforms in the Queen’s Speech today.
The Pension Protection Fund (PPF) has begun increasing payments to all pensioner members whose compensation falls below 50% of their pre-insolvency entitlements solely due to caps.
EY has launched a digital dashboard allowing trustees to more easily narrow the field of potential fiduciary managers before a tender process.
The PPF is increasingly being called to vote on behalf of pension schemes in the event of a CVA process. James Phillips speaks to Malcolm Weir about the lifeboat fund’s capabilities.
Defined contribution (DC) savers should not have their choices limited when it comes to savings plans and retirement decisions, a majority of this week’s 93 Pensions Buzz respondents say.
The National Grid UK Pension Scheme has agreed a £2.8bn buy-in deal with Rothesay Life, covering the benefits of an unspecified number of pensioner members.
Everyone thinks they know their age, but the number of times we cirlce the sun may not be the most accurate measure. James Phillips looks at emerging science and the impact on retirement policy.
Pension schemes have considerably stepped up their preparations for Brexit over the last year, despite the outcome still not being known, the Pensions and Lifetime Savings Association (PLSA) has found.
A joint venture between the BAE pension funds and Immobilien Europa Direkt has acquired the Sofitel at Gatwick North Terminal with the help of Schroders.
The average pension scheme allocation to cashflow-driven investment (CDI) assets doubled over the 18 months to June this year, according to RiskFirst.
The £30bn Brunel Pension Partnership pool has selected Truvalue Labs to evaluate ESG and reputational risks across all of its asset managers.
The Allied Domecq Pension Fund has insured £3.8bn of members’ benefits with Rothesay Life, in the market’s largest deal to cover both pensioner and deferred members.
More than 4,500 pension scheme members breached the lifetime allowance in the 2017/18 tax year, an increase of 36% from the year before, according to HM Revenue and Customs (HMRC).
Rothesay Life has agreed the UK’s largest ever bulk annuity deal to date – a £4.7bn buyout of the GEC 1972 Plan, making 2019 officially a record-breaking year.
The majority of schemes have claimed political and economic uncertainty has led them to disregard contingency planning for the range of potential Brexit outcomes.
Pension schemes could be accidentally pushing themselves further from their endgame by agreeing “fashionable” buy-ins with insurers.
British people born between 2016 and 2018 are expected to live up to 4.2 weeks longer than those born in the 2015-17 period, according to the Office for National Statistics (ONS).
Thomas Cook’s four UK defined benefit (DB) pension schemes are expected to enter the Pension Protection Fund (PPF) as the company begins insolvency proceedings.
Pension Protection Fund (PPF) chief financial officer Andy McKinnon is stepping down from his role after seven years.
The Tate & Lyle Pension Scheme has completed a £930m full buy-in with Legal & General (L&G), insuring benefits for around 4,800 members.
The UK continues to lag behind its global counterparts for retirement security, ranking 17th out of 44 nations in Natixis Investment Managers’ global retirement index.
Insticube analysis reveals fewer than one in five institutional investors positive about asset managers
Just 18% of institutional investors feel positive about the service they receive from the asset managers, analysis from independent data platform Insticube finds.
The Universities Superannuation Scheme (USS) is expected to submit its 2018 valuation to The Pensions Regulator in the coming days, despite admitting it is “pushing their limits” in terms of acceptable risk.
Defined benefit (DB) schemes should act now to insure members’ benefits before an “anomaly” in the markets is corrected, Prudential Retirement has said.
Employees will be like “rabbits in the headlights” if they are awakened to their low levels of saving too late in their working lives, it has been warned.
Schemes already face a legislative requirement to carry out transfers promptly and efficiently, so they should voluntarily get on board with the industry-developed solution, says Tom McPhail
Low member engagement, poor scheme governance, and multiple pots can be equally as detrimental to defined contribution (DC) funds as opaque charges and high costs, research finds.
Professional Pensions' expert Brexit Advisory Panel discusses the key considerations for schemes ahead of the UK's potential exit from the European Union
Professional trustees can improve scheme governance, clear up misunderstandings, and ensure regulatory compliance, argues David Fairs
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the August 2019 estimates on the various measures…
Long-serving Aegon UK chief executive (CEO) Adrian Grace will be replaced by Mike Holliday-Williams on 1 October.