Defined Benefit
USS to proceed with 31 March valuation despite asset falls
Universities Superannuation Scheme (USS) has said it will go ahead with its 31 March valuation despite significant falls in asset values over the past month.
TPR deficit contribution guidance welcomed but 'hidden implications' arise
The Pensions Regulator (TPR) is “pulling out all the stops” to help struggling employers during the Covid-19 crisis, although latest guidance may put trustees in a “challenging” position, the industry says.
Trustees urged to prepare for Covid-19 'material consequences' to DB schemes
Trustees “must be confident” they can continue to take care of members despite the ongoing financial fallouts caused by the spread of coronavirus, says Dalriada Trustees.
Public sector workers face 'massively complex' task of choosing scheme rules
Millions of public sector workers will be able to choose whether their pension provision should be accrued under legacy or reformed schemes under government plans announced yesterday.
Covid-19: Dealing with a contributions crisis
As the Covid-19 crisis sees employers seeking changes or suspensions to deficit contributions, Richard Knight looks at how schemes should respond to such requests.
TPR urged to take pragmatic approach for looming valuations
The Pensions Regulator (TPR) must adopt a “pragmatic” approach to the 15% of UK schemes that have valuation dates within the next three weeks, Aon has said.
Plumbing Pensions seeks approval to fund legal battles for s75 non-payments
The trustees of the £2bn Plumbing and Mechanical Services (UK) Industry Pension Scheme are seeking court approval to use scheme funds in potential upcoming legal battles.
Laura Ashley pension scheme expected to enter PPF assessment
The Laura Ashley Retirement Benefits Scheme is expected to enter Pension Protection Fund (PPF) assessment after the textile designer filed for administration today.
Three charts that show how the coronavirus has hurt pension schemes
Coronavirus (Covid-19) has rattled investors of all kinds, but the market reaction poses some challenges unique to pension funds, Duncan Lamont writes.
Clara 'in talks' over fundraise of up to £200m
Defined benefit (DB) consolidator Clara is in talks over a £200m fundraising exercise, PP understands.
Tapered allowance thresholds confirmed to rise by £90,000
The government will raise the two tapered annual allowance thresholds by £90,000 in a bid to reduce the tax impact on high-earning NHS staff.
Rate cut 'bittersweet' for schemes and savers
The Bank of England’s decision to cut the base rate by 50 basis points (bps) will prove challenging for both pension schemes and retirees, the industry warns.
Infographic: The five fiduciary management weaknesses of small schemes
Professional Pensions' research reveals dramatic differences in behaviours between small schemes and their larger peers when it comes to selecting fiduciary management providers.
DB scheme deficits grow by £100bn due to coronavirus impact
The impact of coronavirus has added £100bn to defined benefit (DB) schemes in just one week, according to Hymans Robertson.
Positive expectations for TPR's long-awaited funding code
The industry has positive expectations for The Pensions Regulator’s (TPR) forthcoming funding code for defined benefit (DB) pension schemes, according to Aon.
Taylor Wimpey sees £8.9m actuarial loss on DB scheme
Taylor Wimpey saw an actuarial loss on its defined benefit (DB) pension scheme of £8.9m in the year ending 31 December 2019, significantly lower than the £84.3m loss the year prior.
Improvements in life expectancy 'stall' over last decade
Life expectancy grew by less than a year for both men and women in the last ten years, with health inequalities widening at the same time, the Institute of Health Equality has concluded.
BAE to inject £1bn into restructured pension scheme
BAE Systems will make a one-off payment of £1bn into its pension scheme “in the coming months” to plug a £1.9bn hole.
PASA launches consultation on DB transfers code
PASA’s DB transfers code of good practice is asking the industry to commit to delivering faster, safer transfers. Holly Roach reports
The Coronavirus impact on DB pensions
As the number of Coronavirus cases continues to grow, Calum Cooper looks at the potential impact on DB scheme liabilities and sponsor covenants.
Ian Scott: A cautious and flexible investment approach
PPF head of investment strategy Ian Scott tells James Phillips about the fund’s in-sourcing programme, recruitment, and investment risk management.
Largest ever university strikes over pay and pensions to begin tomorrow
Universities and College Union (UCU) members are set to begin 14 days of strike action in the largest wave of staff strikes ever seen on UK campuses.
RPI reform is not just and equitable
The government is set to start consulting on how the Retail Prices Index (RPI) is calculated in its Budget on 11 March. Keith Webster warns the industry may currently be sleepwalking into this change.
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