Defined Benefit
Pension transfers hit record £10.6bn in first quarter
Pension transfers increased to a record £10.6bn in the first quarter of this year, Office for National Statistics data reveals.
Abu Dhabi's sovereign wealth fund buys stake in PIC
The Abu Dhabi Investment Authority (ADIA) has agreed to acquire up to 21.4% of shares in the Pension Insurance Corporation (PIC) Group from its founding investor J.C. Flowers & Co.
More action needed on long recovery plans, say respondents
In this week's Pensions Buzz, we wanted to know whether defined benefit (DB) schemes with recovery plans over 10 years should have to explain, and if the regulator should create a pool of 'super trustees' that can be parachuted into schemes to fix problems...
PPF issues first guidance on CVA expectations
The Pension Protection Fund (PPF) has published its first official guidance on how it expects companies seeking company voluntary arrangements (CVAs) to set out their proposals.
DB schemes 'may have hit fully-funded' in May
Rallying growth assets may have enabled defined benefit (DB) schemes to reach fully-funded on a section 179 basis in the first half of May, according to BlackRock.
Pension transfer values back on the rise in May
Difference of 2.4%
FTSE 350 in best position to pay DB obligations since crisis
The ability of FTSE 350 companies to meet their defined benefit (DB) pension obligations is at its highest level in the last decade, PwC analysis says.
EU pensions watchdog: Improve DB funding by raising sponsor support or reducing benefits
Increasing sponsor support or lowering member benefits will ultimately improve the funding position of defined benefit (DB) schemes, according to the European Insurance and Occupational Pensions Authority (EIOPA).
House of Fraser scheme 'kingmaker' in restructuring approval
House of Fraser's defined benefit (DB) scheme has not been automatically placed into Pension Protection Fund (PPF) assessment despite restructuring plans, PP can confirm.
Carillion highlights importance of corporate investigations
Baroness Ros Altmann says more DB trustees should seek independent forensic analysis on the sponsor's business and financial position
Over half of charity DB schemes now closed to future accrual
Some 58% of UK charities have closed their defined benefit (DB) schemes to future accrual, Hymans Robertson research reveals.
PPF could seek special levy for DB consolidators
Defined benefit (DB) consolidation vehicles may be subject to a special levy if they are deemed eligible for the Pension Protection Fund (PPF) in the event of a failure.
Johnston Press 'seeks RAA' amid company restructure
Publishing house Johnston Press is seeking a regulated apportionment agreement (RAA) to detach its pension scheme ahead of a company-wide restructure, according to reports.
18 million people now saving into workplace pensions
The number of people saving into a workplace pension has hit an all-time high, with 17.7 million people actively participating last year, latest government data shows.
Being 'economical' with the truth with discount rates
Iain Clacher and Con Keating say there is much confusion over pension valuations and argue all the methods currently used are wrong. They say a pragmatic resolution could be to use the expected return on assets
Mothercare schemes exit PPF assessment as restructure approved
Mothercare's defined benefit (DB) schemes have exited Pension Protection Fund (PPF) assessment after the struggling children's retailer's shareholders approved restructuring plans.
Bulk member option exercises: What are the benefits for schemes and members?
Industry Voice: Over the past three years, sponsors and trustees have been navigating their way through the pension freedoms and trying to predict what impact they will have on their pension schemes.
North East Scotland LGPS grants HSBC custody mandate
The £4.2bn North East Scotland Pension Fund (NESPF) has appointed HSBC Securities Services as its custodian, replacing BNP Paribas.
Aon Retirement Plan shaves £80m off liabilities through ETV exercise
Aon has improved the buyout position of one if its defined benefit (DB) schemes after undertaking a bulk enhanced transfer value (ETV) exercise.
DB deficit sticks at £200bn despite growth in assets
Defined benefit (DB) schemes had an aggregate deficit of £200bn on a gilts plus measure at the end of May, according to PwC.
Southampton Uni to close non-academic staff DB scheme to new members
The University of Southampton has confirmed plans to close the Pension and Assurance Scheme for Non-Academic Staff (PASNAS) to new members at the end of December.
Schemes facing 2018 valuations not on track to wipe out deficits, says TPR
The regulator's funding analysis for 'tranche 13' schemes finds many are falling behind recovery plans. James Phillips looks at the findings
The danger of lamenting 'it's not fair' in pensions
Hilary Salt says by blurring the line between what is legally required and what 'feels fair', we create uncertainty about what is and isn't allowed
Can a member options exercise mean that buyout is closer than you think?
Industry Voice: Member options exercises can usually be tailored to make sure that they meet a pension scheme's long-term objectives.
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