Defined Benefit

Debenhams has missed its April deficit recovery contribution (DRC) to its staff pension schemes as the struggling high street retailer files a notice of intent to appoint administrators amid the Covid-19 crisis.

The Local Government Pension Scheme (LGPS) has gone live with a cost transparency compliance system and has on-boarded all UK schemes onto the platform.

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.