Defined Benefit
RiskFirst and Insight Investment partner to improve DB fund modelling
RiskFirst and Insight Investment have partnered to provide improved fund modelling and analytics to the defined benefit (DB) pension schemes market.
Court of Appeal rejects ITV appeal against TPR in Box Clever case
The Court of Appeal has dismissed ITV's appeal against a financial support direction (FSD) issued by The Pensions Regulator (TPR) in a long-running case over the Box Clever Pension Scheme.
DB funding - May 2019: Best estimate funding level stagnant over May, says First Actuarial
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the May 2019 estimates on the various measures…
FCA 'concerned and disappointed' with amount of DB transfers
The FCA will carry out further work on defined benefit (DB) transfers after it revealed "concerning and disappointing" findings from its marketwide data gathering exercise.
DB scheme closures accelerating following benefit reviews
UK defined benefit (DB) schemes have increasingly undertaken benefit reviews over the last four years resulting in an acceleration of scheme closures, Aon research finds.
Buck: Three-quarters of schemes now cashflow negative
Contributions are no longer sufficient to meet regular payments for three-quarters of small- to medium- sized defined benefit (DB) schemes, Buck analysis finds.
More than £70m of pension savings at risk to scams - XPS Pensions Group
There has been a significant increase in the number of 'red flags' reported on pension transfers in the last 12 months by the XPS Pensions Group, which it said leaves millions of pounds at risk.
Aon: UK pension schemes face new challenges when fully funded
Defined benefit (DB) schemes are facing fresh challenges around dividends and de-risking as they reach fully-funded status, according to Aon.
People should not use their pension to buy a house, says industry
This week's Pensions Buzz respondents rejected James Brokenshire's suggestion that savers should be able to use their pensions to fund deposits for house purchases.
IFS: Pensions system places too much risk on individuals
Workplace pensions look more like individual savings pots as too much risk is loaded onto members, Institute for Fiscal Studies (IFS) director Paul Johnson warns.
Arcadia delays CVA vote over landlord qualms
Arcadia has postponed votes on its seven company voluntary arrangement (CVA) proposals in order to "conduct further dialogue with a few landlords" in a bid to save the business from collapse.
Pension participation rises to 87% of eligible workers
AE has had 'truly staggering' impact
Sainsbury's scheme surges into surplus after PIE and mortality assumption update
Liabilities slashed by £1.2bn
How trustees can react to the regulator's DB funding code
Matthew Harrison looks at what the forthcoming defined benefit funding code of practice means for pension schemes
Philip Green agrees £25m Arcadia pensions deal with TPR and PPF
Sir Philip Green has agreed with The Pensions Regulator (TPR) to plunge an additional £25m into Arcadia's pension funds, paving the way for a restructure of his empire.
TPT consolidates £220m Coventry Building Society scheme
Coventry Building Society has transferred its £220m defined benefit (DB) scheme to TPT Retirement Solutions' DB master trust.
'High earning' NHS doctors to be given flexible pensions
Senior NHS clinicians could be offered an option to halve their pension contributions in exchange for also halving the rate of pension growth.
De La Rue scheme gains £80.5m after indexation swap
De La Rue's defined benefit (DB) pension scheme gained £80.5m after swapping the index used to revalue benefits, but lost £0.5m to rectify discrepancies identified in the scheme's rules.
Arcadia pension schemes offered additional £185m of security
Arcadia's two defined benefit (DB) pension schemes have been offered an extra £185m of security over property by Sir Philip Green in the event that it is needed in the future.
DB funding - April 2019: Bond yield growth boosts funding positions
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the April 2019 estimates on the various measures…
Plumbing scheme to close to accrual after 40 years
The trustees of the beleaguered industry-wide Plumbing and Mechanical Services (UK) Industry Pension Scheme have confirmed it will close to accrual in June.
Mothercare schemes gain £1.6m from pension increase exchange exercise
Mothercare's two schemes gained £1.6m after a pension increase exchange (PIE) exercise, one year after a company voluntary agreement (CVA) stopped the schemes entering the Pension Protection Fund (PPF).
Royal Mail cash-balance scheme records £9m surplus after first full-year
The Royal Mail Defined Benefit Cash Balance Scheme (DBCBS) has ended its first full-year with a £9m actuarial surplus, the company says.
LCP: FTSE 100 scheme funding to fall by £100bn if accounting rules change
Potential changes to accounting standards and increased pressure on companies to accelerate contributions could worsen FTSE 100 scheme funding by up to £100bn, according to Lane Clark and Peacock (LCP).
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