Defined Benefit

Defined benefit (DB) transfer values continued to increase to yet another record high during July but the number of people opting to exit final salary schemes remains steady, according to XPS Transfer Watch.

Over a third of defined benefit (DB) schemes with valuations between September 2017 and September 2018 were in surplus, according to data from The Pensions Regulator (TPR).

Advice giant Quilter has set aside £24m to compensate British Steel workers advised to transfer out of their defined benefit (DB) pensions by Lighthouse, doubling its previous redress provisions.

Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the July 2020 estimates on the various measures…

Defined benefit (DB) schemes will have to wait an extra year and a half on average to agree a buyout compared to their pre-Covid-19 endgame journey plans, Barnett Waddingham estimates.

ITV has submitted a £31m offer to The Pensions Regulator (TPR) for the Box Clever Pension Scheme after being forced to set out how it would financially support the scheme following a lengthy court process.

In the first feature of a three-part series, Iain Clacher and Con Keating look back at the UK’s defined benefit universe, exploring why the schemes were set up, how they have changed, and the case for their creation.

Patrick Foster draws on his experience supporting trustees through insolvency events to set out what trustees need to prepare for.

The majority of defined benefit (DB) schemes have taken no material action to change their investment strategy or journey plan during the coronavirus pandemic, say Lane Clark & Peacock (LCP).

A second employer has been appointed to stabilise the National Institute of Agricultural Botany (NIAB) pension scheme after intervention from The Pensions Regulator (TPR) when trustees failed to agree a valuation in 2015.