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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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      Webinar: PP Talks - Fiduciary Management

      This PP Talks webinar will ask how fiduciary managers coped with the Covid-19 challenge, how fiduciary management clients generally fared, and the outlook for the year ahead.

      • Date: 05 May 2021
      • Webinar
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      Webinar: The challenges facing open DB schemes

      This webinar will help trustees and pension managers look at the challenges facing open DB schemes, specifically looking at the issues they could face as a result of The Pension Regulator’s new Funding Code of Practice and asking how this could affect the affordability of benefits, future service contributions, investment strategy and benefit design.

      • Date: 06 May 2021
      • Webinar
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      Webinar: Supporting members retirement plans as we emerge from the pandemic

      The pandemic has affected the retirement plans of many. Some have been forced into an early retirement because of redundancy, whilst others have delayed retirement due to their pension losing value. Those who have struggled with a reduced household income, have even been dipping into their pensions whilst still working to make up for the shortfall.This webinar will uncover the steps that can be taken to support pension scheme members in the lead up to and at retirement.

      • Date: 11 May 2021
      • Webinar
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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.

      Download
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Defined Benefit

Pension transfer values recover after February dip
Pension transfer values recover after February dip

Defined benefit (DB) pension transfer values recovered by about a third last month after February’s sharp fall, according to figures from XPS Pensions Group.

  • Defined Benefit
  • 15 April 2021
Clearer DB guidelines on advice versus guidance needed, industry says
Clearer DB guidelines on advice versus guidance needed, industry says

Guidelines on what is and is not viewed as defined benefit (DB) trustees providing members with regulated advice need to be clearer, respondents to a Professional Pensions survey say.

  • Defined Benefit
  • 09 April 2021
UUK asks employers how to retain 'inclusive and affordable' USS benefits
UUK asks employers how to retain 'inclusive and affordable' USS benefits

Universities UK (UUK) has opened a formal consultation with employers in the Universities Superannuation Scheme (USS) seeking views on how to tackle the scheme’s funding situation.

  • Defined Benefit
  • 08 April 2021
Most DB members not confident about decision making at retirement; Trustees warned to 'step up'
Most DB members not confident about decision making at retirement; Trustees warned to 'step up'

Just one quarter of defined benefit (DB) members are confident about making decisions at retirement, according to research by Hymans Robertson.

  • Defined Benefit
  • 07 April 2021
DB funding - March 2021: Another surplus boost but remain mindful of volatility, says PPF
DB funding - March 2021: Another surplus boost but remain mindful of volatility, says PPF

Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. Here are the March 2021 estimates on the various measures…

  • Defined Benefit
  • 06 April 2021
USS responds to employer questions over valuation assumption
USS responds to employer questions over valuation assumption

The Universities Superannuation Scheme (USS) trustee board has laid out answers to thorny questions posed by its employer representative regarding its ongoing sustainability struggles.

  • Defined Benefit
  • 01 April 2021
USS rejects request to review assumptions for latest valuation; UUK to 'keep up pressure'
USS rejects request to review assumptions for latest valuation; UUK to 'keep up pressure'

The Universities Superannuation Scheme (USS) has refused a request by UK university employers to review the assumptions for its 2020 valuation which calculated a funding shortfall of almost £18bn.

  • Defined Benefit
  • 31 March 2021
DB transfers not in pension savers' best interests, FCA says
DB transfers not in pension savers' best interests, FCA says

The Financial Conduct Authority (FCA) has published guidance on advising defined benefit (DB) transfers and has reiterated its stance that it is best savers do not transfer out of DB schemes.

  • Defined Benefit
  • 30 March 2021
Brunel on track to deliver £34m annual savings by 2025 after introspective year
Brunel on track to deliver £34m annual savings by 2025 after introspective year

Brunel Pension Partnership has completed transitioning almost £20bn of Local Government Pension Scheme (LGPS) assets, with most remaining transfers due this year.

  • Defined Benefit
  • 26 March 2021
Covid leaves schemes overestimating pension liabilities by up to 3.5%
Covid leaves schemes overestimating pension liabilities by up to 3.5%

The full impact of the pandemic means many defined benefit (DB) schemes will have now overestimated the life expectancies of their members, research suggests.

  • Defined Benefit
  • 23 March 2021
Three-quarters of schemes to agree contingent funding arrangements
Three-quarters of schemes to agree contingent funding arrangements

Contingent funding is set to be used by three-quarters of schemes as they seek to cover liabilities without draining employer cash, says Lane Clark & Peacock (LCP).

  • Defined Benefit
  • 23 March 2021
Natwest makes £500m cash injection to scheme
Natwest makes £500m cash injection to scheme

Natwest will make a £500m one-off contribution into its main pension scheme after purchasing ordinary shares back from the Treasury.

  • Defined Benefit
  • 19 March 2021
TPR landscape report reveals continuing decline in DB scheme numbers
TPR landscape report reveals continuing decline in DB scheme numbers

The number of defined benefit (DB) schemes open to new members of future accrual fell again over the past year, continuing the long-term trend to scheme closure and wind-up, latest data from The Pensions Regulator (TPR) reveals.

  • Defined Benefit
  • 16 March 2021
SPP: Engaged trustees in well-governed schemes directly impact member outcomes
SPP: Engaged trustees in well-governed schemes directly impact member outcomes

Governance issues can directly impact the outcomes and value for money experienced by defined benefit (DB) scheme members, according to a paper from the Society of Pension Professionals (SPP).

  • Defined Benefit
  • 11 March 2021
Risk management can mitigate schemes' lost funding code flexibility, says TPR
Risk management can mitigate schemes' lost funding code flexibility, says TPR

The potential loss of scheme flexibility outlined in The Pensions Regulator’s (TPR) interim response to its defined benefit (DB) funding code should not be a concern as long as schemes can manage risk, the watchdog said.

  • Defined Benefit
  • 09 March 2021
DB funding - February 2021: PPF 7800 records surplus but warns of sensitivity to bond yields
DB funding - February 2021: PPF 7800 records surplus but warns of sensitivity to bond yields

Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the February 2021 estimates on the various measures…

  • Defined Benefit
  • 09 March 2021
DB sponsors could defer contributions for higher tax relief under Budget measures
DB sponsors could defer contributions for higher tax relief under Budget measures

Changes to corporation tax announced in the Spring Budget could see defined benefit (DB) scheme sponsors defer contributions in favour of tax relief, according to Barnett Waddingham.

  • Defined Benefit
  • 04 March 2021
USS contribution rate could almost double to fight £18bn deficit
USS contribution rate could almost double to fight £18bn deficit

Universities Superannuation Scheme (USS) has reported a technical provisions deficit of between £14.9bn and £17.9bn as of 31 March 2020, and delayed its valuation as it considers how to proceed.

  • Defined Benefit
  • 03 March 2021
Richard Jones: Looking for good people for the Stoneport club
Richard Jones: Looking for good people for the Stoneport club

DB scheme consolidator Stoneport hopes to get 100 schemes signed up by the end of next year, but employer covenant will be vital, chief executive Richard Jones tells James Phillips.

  • Defined Benefit
  • 26 February 2021
Longevity assumptions retain stability despite Covid
Longevity assumptions retain stability despite Covid

The outlook for future longevity in the UK has not necessarily worsened as a result of the coronavirus pandemic, Aon says.

  • Defined Benefit
  • 26 February 2021
Covid restrictions lead Mitchells & Butlers to defer £13m of contributions
Covid restrictions lead Mitchells & Butlers to defer £13m of contributions

Mitchells & Butlers has deferred £13m of deficit recovery contributions (DRCs) after tier four Covid restrictions wreaked havoc across the hospitality sector.

  • Defined Benefit
  • 22 February 2021
BA defers £450m of DRCs after 'swift and severe' pandemic closures
BA defers £450m of DRCs after 'swift and severe' pandemic closures

British Airways (BA) has deferred deficit recovery contributions (DRCs) totalling £450m following an agreement with trustees after a catastrophic year for the airline industry.

  • Defined Benefit
  • 22 February 2021
DB transfer complaints to ombudsman jump 44% in 2020
DB transfer complaints to ombudsman jump 44% in 2020

Jump from 554 in 2019

  • Defined Benefit
  • 16 February 2021
Plumbing Pensions reports 99% funding level as governance review poses 'watershed moment'
Plumbing Pensions reports 99% funding level as governance review poses 'watershed moment'

The Plumbing and Mechanical Services (UK) Industry Pension Scheme was 99% funded on a low-dependency basis, a valuation conducted amid economic turmoil has confirmed.

  • Defined Benefit
  • 12 February 2021
123

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