Defined Benefit
Regulator's gateway guidance could set 'too high a hurdle' for superfunds
Regulatory guidance “could set too high a hurdle” for superfunds, Lane Clark and Peacock (LCP) warns.
TPR: Just 4% of schemes have agreed DRC deferrals
Around one in 25 pension schemes have made use of regulatory easements to deficit recovery contribution (DRC) payment schedules, according to The Pensions Regulator (TPR).
Justin Corliss: Making the case for partial DB transfers
Half-way house
DB funding - September 2020: PPF 7800 records £26bn deficit increase
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the September 2020 estimates on the various measures…
The unstoppable force paradox: Supply and demand in the DB transfer market
Philip Dickinson looks at the impact of Covid-19 on the transfer market and how schemes and advisers can support members.
PPF probability of success drops to lowest ever level as reserves plummet by 16%
The Pension Protection Fund (PPF) has an 83% probability of success for its target of being self-sufficient by 2030 as of March this year, a six percentage point drop from 2019.
PPF drops multi-year approach to cut levy to lowest since 2006/07
Around 2,000 small schemes could see their levies cut as the Pension Protection Fund (PPF) consults on introducing a tapered approach to its risk-based levy while temporarily dropping its multi-year approach.
Mothercare forced to backtrack on pension payments after Covid-19 pressures
Mothercare has negotiated an extension to its scheme contributions schedule with a significant level of deficit expected following the offloading of its UK business last November.
Why schemes must avoid overreacting to disrupted CMI Model
While the CMI Model of longevity improvements has proved reliable, Covid-19 threatens to cause it to show an unrealistic falls in life expectancy. Tim Gordon explains why the industry should not overreact
Ultra-low interest rates and QE 'broke 4% drawdown rule'
The 4% rule of thumb often used to define a sustainable approach for drawdown in retirement is no longer fit for purpose due to prevailing and sustained market conditions, says Lane Clark & Peacock (LCP).
Pension scheme members owed as much as £25,000 in GMP equalisation back payments
Pension scheme members could be owed as much as £25,000 in back payments from GMP equalisation, according to research by XPS Pensions.
A Covid-19 tax relief raid could exacerbate generational pensions divide
With rumours once again swirling around the future of pensions tax relief in the run up to this year's Budget, any reduced incentive for long-term savers could risk further exacerbating the generational divide in pensions, says Tom Selby
Ditch gilts-based valuations to generate £40bn of value, TPR urged
Pension schemes have been “shoehorned” into valuing liabilities against gilts, creating a “herd mentality” that does not reflect scheme funding accurately, says PwC.
Scheme valuations in a Covid-19 economy
As over 1,000 DB schemes seek to agree a valuation amid the crisis, Hope William-Smith looks at the considerations.
94% of industry backs increased trustee power to halt potential scam transfers
Trustees should have the ability to pause suspected scam transfers, respondents agreed in a Professional Pensions poll.
DB members with weak employers face 50% chance of benefits cut
Defined benefit (DB) scheme members with weaker employers face a 50% chance of a cut in benefits due to sponsor insolvency, according to Hymans Robertson.
Mercer launches DB master trust as scheme pressures grow
Mercer has launched a defined benefit (DB) master trust in a bid to offer a “best-in-class solution” that recognises the shrinking universe.
Is self-sufficiency a good measure for DB funding?
Professor Michael Bromwich explores the key differences between technical provisions and self-sufficiency, and how they can relate to a long-term objective.
A new DB code on the horizon
Nigel Cayless looks at TPR's proposed funding regime and whether a more objective approach is on the way
Planning in a pandemic: The effect of Covid-19 on pension schemes
Schemes need to be prepared for the potential longer-term health impacts on those who contract Covid-19, says Steve Leake.
The waking market for sole trustees
Sole trustee appointments are featuring more often in tender proposals as schemes seek nimbleness and expertise. James Phillips looks at a Kempen white paper on the burgeoning market.
DB funding - August 2020: Strong markets return £59bn deficit reduction
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the August 2020 estimates on the various measures…
Nearly half of advisers could exit DB market in 12 months, say Royal London and LCP
Nearly half of financial advisers currently operating in the defined benefit (DB) transfer market could exit by this time next year, with issues surrounding professional indemnity (PI) insurance appearing to be the main driver of change, research has...
Trustees told to step up as FCA contingent charging ban takes effect
Trustees are set to have an increased duty of care to ensure employees and members make informed choices when accessing their pension, according to Wealth At Work.
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