Defined Benefit
FTSE 100 DB deficit improves by £36bn; Bond allocations rise
A number of pension schemes have been prompted to lock in gains with a move into bonds after the estimated deficit across FTSE 100 DB pension schemes improved by £36bn, over the 12 months ending 30 June last year, JLT Employment Benefits found.
Trustees 'need professional help' on communications, finds British Steel review
Trustees lack expertise, time and resources to develop effective communications on technical pensions issues and need professional help, a major review of the British Steel saga has concluded.
Bulk annuity and consolidator adviser K3 launches in pioneering move
The first specialist independent firm advising pension schemes on bulk annuities or moving to a consolidator has been set up with ambitions to shake up the market.
GMP equalisation will take at least two years, says industry
The equalisation of guaranteed minimum pensions (GMPs) is at least two years away from being completed, and could take longer than four years for some schemes, a poll has found.
BA trustees granted extra £1m for appeal as costs exceed discretionary increase
Trustees of the Airways Pension Scheme (APS) have been granted permission to use more than £1m of scheme assets to fund an appeal over discretionary increases.
Health secretary pushes chancellor for NHS pension tax reform
Chancellor Philip Hammond is being pressed to tackle the impact of pensions allowances on the NHS' ability to recruit and retain staff.
How UK schemes are approaching fixed income in uncertain times
Defined benefit schemes are taking fresh approaches to liability-matching and repositioning their return-seeking investments, says Alastair O'Dell.
An opportunity for a simpler DB world
Jenny Condron says pensions simplification would sweep away confusion for members arising from having up to 12 tranches with different rates of revaluation and increase.
How to assess the benefits of DB consolidators
Redington has unveiled a report asking if DB consolidation is good for schemes and members. Kim Kaveh looks at the detail.
Amber Rudd 'must fix broken' DB transfer market
Stephen Lloyd MP has called on the secretary of state for work and pensions to investigate the pensions transfer market and ban contingent charging.
A clear direction of travel: How scheme de-risking will evolve in 2019
Two consultancies predict a further acceleration in the bulk annuity market in 2019. Kim Kaveh looks at what schemes should consider.
PPF: DB universe drops back into red
Defined benefit (DB) schemes fell back into deficit on aggregate over December as gilt yields and asset returns fell, the Pension Protection Fund (PPF) says.
MPs launch inquiry into contingent charging on DB transfer advice
Parliament's Work and Pensions Committee has launched an inquiry into contingent charging on defined benefit (DB) pension transfer advice.
Why we should be pensions positive in 2019
Despite the gloom around Brexit and all the challenges facing pensions, there are plenty of reasons to be cheerful. Top industry commentators tell Stephanie Baxter why there is cause for optimism
What does 2019 hold in store for DB pensions?
Buck's David Piltz says the industry was shaped by several developments in 2018, many of which will continue to influence the sector this year.
Mercer: FTSE 350 deficit surged by over a quarter in 2018 with 'anticipated' GMP costs
The combined pension deficit of FTSE 350 companies grew by £9bn in December 2017 to £41bn one year later on an accounting basis, according to Mercer's funding tracker.
Whitbread scheme secures £380m from Costa sale
The Whitbread Group Pension Fund has been handed a one-off contribution of £380m following Whitbread's sale of Costa to The Coca-Cola Company.
New USS valuation reports 52% fall in deficit
The Universities Superannuation Scheme (USS) saw its deficit fall by £3.9bn on a technical provisions basis over a one-year period, its latest valuation reveals.
Plumbing scheme extends ban on employers leaving
A ban on employers leaving an industry-wide plumbing pension scheme has been extended for six months in a bid to protect the covenant.
Schemes end 2018 with sharp drop in funding levels
Defined benefit (DB) schemes saw their aggregated deficit more than double over December, ending 2018 with a funding level of 93.5%, says JLT Employee Benefits.
Clara secures £225m backing from TPG Sixth Street Partners
Defined benefit (DB) consolidator Clara will get up to £500m of capital backing from global credit investment firm TPG Sixth Street Partners (TSSP), paving the way for its first deals.
DWP reveals opt-out rates 'remained consistent' with pre-contribution hike levels
Opt-out rates at the end of June 2018 "remained consistent" with levels before the April contribution rate increase, according the Department for Work and Pensions (DWP).
DB schemes to pay out third of a trillion pounds in next three years
Defined benefit (DB) schemes are set to shear themselves of over £300bn of liabilities between 2019 and 2021 as they continue to mature, Mercer predicts.
'Healthy' life expectancy falls for women but improves for men
Females can expect to live a greater number of years in poor health than males, according to data from the Office for National Statistics (ONS) for 2015 to 2017.
