Defined Benefit

The average recovery plan length for schemes in deficit has fallen by 2.2 years compared to three years ago, according to an Aon study.

Oversimplification must be avoided in The Pensions Regulator’s (TPR) proposed revision of the defined benefit (DB) scheme funding code, and a third way might be necessary, the industry has said.

A potential surge in pension transfer requests as a result of the economic fallout from lockdown could see demand for advice rocket, putting increased pressure on the profession, the Personal Finance Society (PFS) has warned.

The Pensions Regulator’s (TPR) proposal for a ‘fast track’ approach to defined benefit (DB) scheme funding regulation is being “used too broadly” and in danger of suffering from “mission creep”, says Aon.

The publication date of the Universities Superannuation Scheme’s (USS) 2020 valuation has been pushed back until September.

Potential changes to the way the Retail Prices Index (RPI) is calculated and reported could cause assets to fall by between £60bn and £130bn, according to various estimates.

The Family Building Society’s 250-member defined benefit (DB) scheme has transferred into TPT Retirement Solutions’ master trust, DB Complete.

A number of regulatory and economic factors including a tougher line on scheme funding from The Pensions Regulator (TPR) means interest in the use of contingent strategies will grow, Lane Clark & Peacock (LCP) finds.

The true level of flexibility for defined benefit (DB) schemes that take the ‘bespoke’ option laid out in the proposed DB funding code needs further clarification, the industry has said.

Coats Group has agreed with its UK pension trustees to defer the payment of its remaining deficit recovery contributions (DRCs) for 2020.