Defined Benefit
No-deal Brexit could add £219bn to buyout deficit
Crashing out of the European Union without a deal could cause a 37% increase in the aggregate buyout deficit for defined benefit (DB) schemes, says Cardano.
PPF: DB schemes edge into surplus for first time since 2011
Defined benefit (DB) schemes ended November in an aggregate surplus position for the first time since 2011, according to Pension Protection Fund (PPF) figures.
TPR in talks with Interserve scheme trustees amid recovery plan talks
The Pensions Regulator (TPR) is "working closely" with government contractor Interserve and the trustees of its defined benefit (DB) pension schemes, it has confirmed.
Industry welcomes 'detailed' DWP superfund plans but identify affordability issues
The industry has welcomed the Department for Work and Pensions' (DWP) consultation on defined benefit (DB) consolidation as a way to address scheme covenant issues.
WPC urges TPR for speedy action over Johnston Press pre-pack
Work and Pensions Committee (WPC) chairman Frank Field has pressed The Pensions Regulator (TPR) to promptly announce if it will take any action on Johnston Press.
Stagecoach estimates £24.2m pension hit from GMP equalisation
Transport company Stagecoach has estimated it will need to pay £24.2m to equalise guaranteed minimum pensions (GMPs) for members of its defined benefit (DB) scheme.
Nearly half of FTSE 350 DB schemes in surplus; consolidation solution for 'significant minority'
Nine in 10 FTSE 350 defined benefit (DB) pension schemes could pay off their IAS19 deficit with less than six months of earnings, according to Hymans Robertson.
PPF universe in better funding position but 'significant risk' continues
Significant risk remains in the Pension Protection Fund's (PPF) universe, despite higher funding levels, the lifeboat says as it launches its 2018 Purple Book.
DB funding improves by £18bn, says JLT index
The UK's 5,600 defined benefit (DB) schemes saw their funding positions improve by one percentage point over the course of November, according to JLT Employee Benefits.
USS to hold new scheme valuation; No changes to cost-sharing arrangement
The Universities Superannuation Scheme (USS) will carry out a new actuarial valuation of its funding position, as at March 2018.
HSBC has 'moral imperative' to drop pensions clawback rules, say MPs
The chief executive of HSBC, John Flint, is being pressured to appear before a newly formed cross-party group of MPs over a controversial pensions 'clawback' policy.
FRC hits KPMG with formal complaint over Silentnight work
KPMG and partner David Costley-Wood have been accused of deliberately providing untrue, misleading or materially incomplete pensions information during the Silentnight saga.
PPF 'concerned' over Johnston Press pre-pack as deal dodges scheme contribution
The Pension Protection Fund (PPF) and The Pensions Regulator (TPR) are probing the sale of Johnston Press as concerns are raised over the impact on the publishing house's pension fund.
DB transfer value quotation requests dip in Q3 after GMP equalisation ruling
Two consultancies have reported decreases in defined benefit (DB) transfer quotation requests in Q3, and said guaranteed minimum pension (GMP) equalisation could impact transfer activity.
How a 'pensions pound' could simplify DB benefits
The ACA and Royal London have published a joint policy paper on a 'radically simplified' DB structure. Kim Kaveh looks at the proposals.
Johnston Press jettisons DB scheme in pre-pack deal
Around 5,000 members of the Johnston Press Pension Plan are expected to enter the Pension Protection Fund (PPF) following a pre-pack administration (PPA) by its sponsor.
PPF 7800 funding level reverses six months of growth before factoring GMPs
The combined funding level decreased by just over four percentage points by the end of last month to 93.6%, according to the Pension Protection Fund's (PPF) latest update.
Average DB scheme able to meet 93% of benefits, says LGIM
A typical defined benefit (DB) scheme was able to meet 92.9% of its accrued pension rights as of 30 September, according to Legal & General Investment Management (LGIM).
Carclo misses fifth dividend ahead of £3m GMP equalisation hit
Plastics manufacturer Carclo has missed yet another dividend as it continues to battle its defined benefit (DB) pension funding shortfall.
Lesley Titcomb: How we are working with industry to meet the big pension challenges
The pensions watchdog's chief executive speaks to Stephanie Baxter about some of The Pensions Regulator's key priorities during her last few months in post
Manchester University staff vote to strike over pensions reform
Support staff at Manchester University have overwhelmingly voted to take strike action over plans to reduce and close the defined benefit (DB) pension scheme.
Getting ready for 2019 triennial valuations
Susan Martin says there are lots of challenges to grapple with ahead of next year's LGPS valuations.
What does a good member outcome for DB members look like?
There is a lack of clarity over DB funding targets. Adolfo Aponte says more transparency in this area could have significant benefits.
LifeSight to adopt 50% ESG strategy for default fund amid DC 'challenges'
Willis Towers Watson's LifeSight is the first defined contribution (DC) master trust to allocate around half of equity investments in the default fund to environmental, social and governance (ESG) strategies.
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