Defined Benefit

Against a Covid-19 backdrop of deteriorating funding positions and reduced ability to pay DRCs, Alistair Russell-Smith looks at key actions for scheme sponsors.

Universities Superannuation Scheme (USS) has said it will go ahead with its 31 March valuation despite significant falls in asset values over the past month.

The Pensions Regulator (TPR) is “pulling out all the stops” to help struggling employers during the Covid-19 crisis, although latest guidance may put trustees in a “challenging” position, the industry says.

Trustees “must be confident” they can continue to take care of members despite the ongoing financial fallouts caused by the spread of coronavirus, says Dalriada Trustees.

Millions of public sector workers will be able to choose whether their pension provision should be accrued under legacy or reformed schemes under government plans announced yesterday.

As the Covid-19 crisis sees employers seeking changes or suspensions to deficit contributions, Richard Knight looks at how schemes should respond to such requests.

The Pensions Regulator (TPR) must adopt a “pragmatic” approach to the 15% of UK schemes that have valuation dates within the next three weeks, Aon has said.

The trustees of the £2bn Plumbing and Mechanical Services (UK) Industry Pension Scheme are seeking court approval to use scheme funds in potential upcoming legal battles.

The Laura Ashley Retirement Benefits Scheme is expected to enter Pension Protection Fund (PPF) assessment after the textile designer filed for administration today.

Coronavirus (Covid-19) has rattled investors of all kinds, but the market reaction poses some challenges unique to pension funds, Duncan Lamont writes.