Defined Benefit
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.
DB funding - January 2020: Gilt yield drop pushes up deficit by £64bn
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the January 2020 estimates on the various measures…
Exclusive: Schroders pension scheme allocates £800m of DB assets to in-house solution
The Schroders Retirement Benefits Scheme (SRBS) is allocating £800m of its defined benefit (DB) assets to its in-house cashflow driven investing (CDI) building blocks.
Universities set for further USS strike action
The University and College Union (UCU) has announced a further 14 days of strike action at 74 UK universities in a continuing dispute about pensions and pay.
Mercer debuts AI tool to predict DB outcomes
Defined benefit (DB) pension schemes will be able to predict the outcome of member options exercises using artificial intelligence (AI), says Mercer.
NHS: Pension tax problems will cause staff exodus
Almost half (44%) of clinical and non-clinical trust executive directors are considering or planning to leave the NHS in the next two years due to pension taxation, according to NHS Providers.
Mothercare secures revised payment schedule with pension trustees
The parent of collapsed UK retailer Mothercare has secured a revised payment schedule with its pension scheme trustees and said it is “on track” with its planned recapitalisation.
Solving the DB funding challenge
The PPF's latest Purple Book reveals the significant underfunding challenges in the DB universe, and these will stay with us for the long-term, says Jonathan Stapleton.
Hargreaves Lansdown: Pension tax system a 'bloated, inefficient mess'
Only a “comprehensive rethink” will be able to fix the “bloated, inefficient mess” of the current pension tax system, says Hargreaves Lansdown head of policy Tom McPhail.
Ombudsman rejects complaints against British Steel trustees
The Pensions Ombudsman (TPO) has rejected a number of complaints from members of the embattled and collapsed British Steel Pension Scheme (BSPS).
Purple Book reveals DB risk up but PPF 'bigger and stronger than ever'
Plenty of risk remains in the Pension Protection Fund's (PPF) universe but the outlook on funding levels is positive, the lifeboat says as it launches its 2019 Purple Book.
The challenges of a self-sufficiency approach
A self-sufficiency approach is not riskless and trustees must consider covenant strength and longevity exposure. Chris Ramsey looks at the key considerations of running schemes on.
December concludes turbulent year for DB transfer values
Pension transfer values fell in December, while the number of individuals taking a transfer value from schemes rose, according to XPS Pension Group.
The Cheviot Trust appoints First Actuarial as scheme actuary
Defined benefit (DB) and defined contribution (DC) master trust The Cheviot Trust has selected First Actuarial to provide actuarial services for the scheme.
DB funding - December 2019: Deficit halves as equities and gilts rally, says PPF
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the December 2019 estimates on the various measures…
Budget to deliver government findings on tapered annual allowance
The government’s review of the tapered annual allowance is underway with findings expected to be announced in the 11 March Budget.
Why you need to read the Purple Book
As the PPF and Professional Pensions get ready to launch the 2019 edition of the Purple Book, Lisa McCrory explains how trustees and the wider industry can use the data.
How funding levels are trending upwards
GSAM has unveiled its annual study of pension schemes within the FTSE 350 index on funding level trends. Kim Kaveh explores its findings.
