Defined Benefit
British Steel staff positive on Chinese buyout plans after pension collapse
A lifeline for British Steel in the form of a Chinese buyout would have positive implications for its workers caught up in its defined benefit (DB) pension transfer scheme saga.
DB funding - October 2019: Ongoing Brexit uncertainty and volatile markets cause deficits to fall
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the October 2019 estimates on the various measures…
DB consolidation: Weighing up the options
A panel of experts have shared their views on how DB schemes can make good consolidation decisions. Kim Kaveh reports from the PLSA’s annual conference .
Buck launches DB investment governance service
Buck has launched an investment governance service which aims to help defined benefit (DB) schemes prepare for their endgame.
Pension freedom withdrawals reach £30bn
Over £30bn has been withdrawn from pension pots since Freedom and Choice was introduced in 2015 for those aged over 55, according to latest data from HM Revenue and Customs (HMRC).
Pensions experts anticipate swift consolidation of DB schemes
The number of defined benefit (DB) schemes will fall in the next decade as superfunds begin to strengthen, pension professionals believe.
CMI data shows further mortality improvements
Pension schemes face higher liabilities as improvements in mortality rates trend towards their highest level in a decade.
DB schemes hunt for fairer endgame strategies
Defined benefit (DB) pension schemes are looking for untraditional ways to build endgame strategies in order to better balance member and employer needs, the Pensions Policy Institute (PPI) has found.
New Airways Pension Scheme to reach full funding four years early
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.
TPR further delays DB funding code consultation until 'things have settled down'
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.
A closer look at flexible apportionment arrangements
Flexible apportionment arrangements have become a commonly used tool for employers but, as Andy Lewis says, there can be issues for the unwary.
LEBC valuation slashed by a third after withdrawal from transfer market
LEBC’s majority shareholder B.P. Marsh & Partners has reduced the valuation of its holding in the group by 33%, following its withdrawal from the defined benefit (DB) transfer market.
PPF now paying higher compensation to all members affected solely by caps
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.
LPGS pools launch climate and real estate funds
LGPS Central has launched a multi-factor equity fund with climate considerations core to its investment process.
Why pensions considerations are moving up the management agenda
The collapse of Thomas Cook shows how company boards must give greater attention to how pay and dividends contrast to pension scheme contributions, says Stephen Richards .
DB funding - September 2019: Equities hide impact of stagnant gilts as PPF 7800 deficit falls
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the September 2019 estimates on the various measures…
Royal London and LCP call for wider access to partial DB transfers
There needs to be wider access to partial transfers out of defined benefit (DB) schemes, according to a joint paper published by Royal London and Lane Clark & Peacock (LCP).
PPF announces 8% rise in levy collection as risk grows
The Pension Protection Fund (PPF) has launched a consultation on how levies will be calculated for 2020/2021, with an expected 8% increase in its levy collection compared to this year.
DB schemes continue move out of equities in favour of illiquids
Over half of all UK defined benefit (DB) schemes have reduced their investment in equities over the last two years while diversifying into alternative growth assets, according to Aon.
Thomas Cook schemes expected to enter PPF
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.
USS 'pushing regulator limits' as it submits 2018 valuation
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.
FTSE 350 schemes nearing buyout exposed to excessive risk
Growing market volatility could adversely affect defined benefit (DB) schemes nearing buyout over the next five years, Barnett Waddingham says.
DB funding - August 2019: PPF 7800 funding collapses as gilt yields and equity returns tumble
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…
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