Defined Benefit
Academics call on USS trustees to explain deficit maths
Over 50 academics in the Universities Superannuation Scheme (USS) have urged the fund's trustees to explain calculations used to calculate its deficit.
DB costs hitting pay and intergenerational equity, employers say
Over half of employers believe the need to fund defined benefit (DB) schemes is affecting their ability to improve employee pay, a survey by the Association of Consulting Actuaries (ACA) has found.
Why more schemes can and should offer partial transfers
Steve Webb says as schemes may have to invest in systems to generate regular transfer values, offering valuable partial transfers shouldn't be too burdensome.
CWU plans to close final salary schemes while balloting members on Royal Mail scheme closure
The Communication Workers Union (CWU) has proposed a major shake-up of its defined benefit (DB) provision, despite threatening industrial action at Royal Mail for planning similar changes, PP can reveal.
Paul Masterton MP: Why the government should introduce statutory override for CPI switch
Paul Masterton MP disagrees there is no affordability problem in DB schemes, and calls for a statutory override to allow trustees to switch to CPI
DB funding level drops over August after 105 schemes fall into deficit
The combined deficit of the UK's defined benefit (DB) schemes rose by £40bn over August, according to the Pension Protection Fund's (PPF) latest index.
Tata Steel completes RAA for British Steel scheme
A regulated apportionment arrangement (RAA) has been conducted for the British Steel Pension Scheme (BSPS) after no appeals were lodged since it was agreed in principle last month.
USS deficit talk is 'scaremongering', Altmann says
Coverage of the growth of the Universities Superannuation Scheme (USS) deficit is 'scaremongering', former pensions minister Baroness Ros Altmann has told the House of Lords.
BA plans to close scheme to accrual after deficit grows to £3.7bn
British Airways (BA) will launch a consultation with members of its New Airways Pension Scheme (NAPS) on plans to close the scheme to future accrual.
Transfer values climb 3% in August; still at 'historically high levels'
Defined benefit (DB) transfer values rose steadily over August, increasing from £230,000 at the beginning of August, to £237,000 by the end of the month, according to Xafinity.
CWU to hold strike ballot over Royal Mail pension plans
The Communication Workers Union (CWU) will ballot its members on strike action over Royal Mail's plans to close its defined benefit (DB) scheme.
USS launches consultation over valuation assumptions after fall in future return expectations
The Universities Superannuation Scheme (USS) has launched a consultation with Universities UK (UUK) on proposed assumptions for its 2017 valuation.
How to get good DB transfer outcomes for members
Pension schemes should rethink their approach to defined benefit transfers in response to high demand since Freedom and Choice, writes Kim Kaveh
DB funding deficit grows 10% over August
The collective deficit of defined benefit (DB) schemes increased by £40bn to £460bn over August after falls in long-term rates, according to PwC's Skyval index.
PPF urges same-sex survivors to check entitlement after Walker ruling
The Pension Protection Fund (PPF) has called on widows and widowers in same-sex marriages or civil partnerships to check whether they are receiving their full survivor entitlement from the lifeboat fund.
RPMI Railpen takes steps to improve investment decision-making
RPMI Railpen, which manages the £25bn Railways Pension Scheme, has adopted a performance attribution solution to help it monitor and improve its investment process.
ECWG issues guidance to help DB stakeholders manage risks
The Employer Covenant Working Group (ECWG) has published guidance to help stakeholders of defined benefit (DB) funds manage distressed scenarios.
Partial DB transfers should be a 'legal right', says report
Members should have a limited legal right to partially transfer their defined benefit (DB) scheme, according to a joint report from Royal London and LCP.
FTSE 100 accounting deficit rose by £70bn in 2016
The total cost of pension liabilities at the UK's 100 largest public companies increased from £586bn to £681bn last year, according to research.
Mooted change to accounting standard 'could see cash contributions slashed'
A planned amendment to IAS 19 under consideration by the International Accounting Standard Board (IASB) could have big consequences for scheme funding arrangements.
Ticking bomb for Royal Mail as CWU sets deadline before holding strike ballot
The Communication Workers Union (CWU) has told Royal Mail it must make significant progress in resolving its pensions dispute by 6 September to avoid industrial action.
Capita could see strike action over 'disgraceful' DB closure
The planned closure of Capita's defined benefit (DB) scheme could be met with strike action as Unite launches a ballot of its members.
Pickering: Pensions policy is going in the wrong direction
Chairman of BESTrustees Alan Pickering speaks to Stephanie Baxter about the toxic effect of knee-jerk legislation over the past 20 years, and why he wants a national pensions authority
Unite members split on Royal Mail pension proposals
Unite members in the Royal Mail Pension Plan (RMPP) have narrowly rejected the company's proposal to set up a 'cash balance' scheme when the plan closes to accrual next year.
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