Defined Benefit
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…
Exclusive: 90% of DB schemes have set a long-term funding target
Almost all UK defined benefit (DB) schemes (92%) have set clear long-term funding targets, with most focused on buyout or self-sufficiency, according to Aon.
GKN scheme splits into four and sees deficit reduction following Melrose acquisition
Melrose Industries has separated one of GKN's two defined benefit (DB) schemes into four sections allocated to the aerospace and automotive segments of the business, according to its half year results.
Just Group exploring DB de-risking partnership while bulk annuity deals fall
Just Group is exploring a defined benefit (DB) de-risking partnering approach as part of the development of a capital light fee business, according to its half-year results.
Switching inflation indices: How aligning RPI with CPIH will affect schemes
The Treasury will soon consult on moving the calculations behind RPI to match another index. James Phillips looks at the proposal and its potential impact on pension schemes.
Will LEBC's market withdrawal impact DB de-risking?
As one of the biggest IFA firms withdraws from the transfer market, Kim Kaveh gauges views on whether the move will impact scheme de-risking plans.
Jim Beam pension scheme moves to bundled DB solution
The Beam UK Pension Plan has appointed Willis Towers Watson to provide actuarial, fiduciary management, consulting and administrative pension services through its bundled OneDB service.
NHS Employers publishes pension tax guidance
NHS Employers has published guidance for employers to support staff affected by the pension taxation issues.
LEBC agrees to stop DB transfer work
National financial advisory firm LEBC Group has stopped offering advice on defined benefit transfers after a review from the Financial Conduct Authority (FCA).
DB schemes should diversify portfolios to protect against market crash, says Cambridge Associates
Trustees and sponsors of UK defined benefit (DB) schemes should consider diversifying their growth portfolios to protect against the possibility of a market crash, according to Cambridge Associates.
Government could face legal action over 'short-changing' public sector pensions
Teachers and doctors could have grounds for a legal challenge against the government for age discrimination if they have been moved to a less beneficial pension scheme, Leigh Day says.
Fifth of DB schemes graded weak by TPR
One in five defined benefit (DB) schemes are in The Pension Regulator's (TPR) weakest two categories, analysis by Hymans Robertson has revealed.
Fighting fire with fire: Why reverting public sector reforms will create winners and losers
The various potential routes for the government to respond to the McCloud judgment will mean some members lose out, writes Moira Warner.
Medicash transfers £20m DB scheme to TPT
Medicash has transferred its defined benefit (DB) scheme to TPT Retirement Solutions' DB Complete master trust, improving the security of member's benefits.
DB funding - July 2019: PPF 7800 records £39bn deficit increase as gilt yields plummet
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the July 2019 estimates on the various measures…
Industry Voice: FTSE 350 pensions - Where are companies on the endgame journey?
Driven by an increase in corporate bond yields and the continuing payment of deficit contributions, 2018 was a positive year for the disclosed financial position of the FTSE 350's defined benefit (DB) schemes, with the aggregate deficit decreasing from...
Schemes being 'lulled into false sense of security' by deficit drops
Defined benefit (DB) scheme trustees are spending too much time focusing on how well funded their schemes are, River and Mercantile Derivatives says.
Royal London reports drop in pension sales in H1 as DB transfers slow down
Royal London's new business pension sales fell by 4% over the course of a year primarily due to a slowdown in defined benefit (DB) transfers, the firm's half year results reveal.
The race to equalise GMPs…are we there yet?
Planning the journey towards equalised GMPs will make the process more enjoyable than focusing on the timing of reaching the end goal, says Girish Menezes.
Plumbing pension scheme valuation completed as future accrual ceases
The Plumbing and Mechanical Services (UK) Pension Scheme has completed its 2017 valuation, calculating scheme assets were enough to cover 102% of its liabilities.
Mercer under fire after 10-month DB transfer
Pensions and investment consultancy Mercer has come under fire after taking 10 months to complete a defined benefit (DB) transfer.
LGPS 'should adopt outcomes-based approach' to improve governance
Local government funds should ditch prescribed governance models and move instead towards an outcomes-based approach with minimum standards, a report has proposed.
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