Defined Benefit

The government has opted to proceed with its “deferred choice underpin” (DCU) route for implementing a remedy to the McCloud judgment for public sector workers.

The health of the UK’s defined benefit (DB) pension schemes has surpassed that of their pre-Covid levels as they continued to recover through final quarter of 2020, Legal & General Investment Management (LGIM) research reveals.

The Staffordshire Pension Fund has reappointed Hymans Robertson to a seven-year contract for investment consultancy services.

Michael Bromwich says USS’ 2020 valuation ramps up prudence, but perhaps unjustifiably, resulting in higher contributions.

Defined benefit (DB) pension scheme sponsors issued 249 profit warnings last year, 90% of which were specifically related to the coronavirus pandemic, according to EY.

Defined benefit (DB) scheme trustees are looking to their schemes to provide them with better technological support, with eight in ten agreeing ad-hoc and online meetings will permanently replace the pre-Covid quarterly meeting cycle.

Average transfer takes 11.9 days

The Debenhams brand and website has been acquired by online fashion retailer Boohoo for £55m, although the pension scheme, shops, and stock will not be purchased.

Con Keating says last week’s Pensions Buzz survey indicates the true feeling of directly affected schemes to The Pensions Regulator’s DB funding code proposals.

The Universities Superannuation Scheme (USS) trustee board has warned investment returns will be lower in the future than expected as it edges closer to concluding its 2020 valuation.