Defined Benefit
ECPA issues warning over changes to sponsor longevity assumptions
Schemes need to dynamically and closely monitor the position of their employer covenant and its corporate longevity, ensuring the assessment is not conducted in isolation, the Employer Covenant Practitioners Association (ECPA) says.
Hymans Robertson and Isio appointed to Scottish Enterprise Scheme
The Scottish Enterprise Pension & Life Assurance Scheme (SEPLAS) has appointed Hymans Robertson and Isio following a formal tender process.
Managing operational and costs considerations is key to overall success
Marian Elliott looks at the key factors for reaching schemes’ set goals.
Aon: 'Wave' of pension schemes closures expected in 2021
The market events of 2020 could lead to a “fresh wave” of benefit reviews by UK companies and subsequent pension schemes closures, Aon says.
PPF confirms key support measures for levy payers
The Pension Protection Fund (PPF) has confirmed a number of key measures to support levy payers following support from its recent consultation on the introduction of a tapered approach.
Playing to win: How to prepare for the endgame
More and more pension schemes are approaching their endgame. Tony Baily and Lucy Barron explore how trustees can prepare, what tools can be used and how fiduciary management can help schemes get there with more certainty.
Is government trying to end open DB?
With a total market value of over £2trn, defined benefit (DB) pensions are an enormous financial resource, says Baroness Ros Altmann. But quantitative easing (QE) has caused significant damage to pension funding.
DB funding - November 2020: Deficit plummets by £47bn in positive month for markets
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the November 2020 estimates on the various measures…
Aon flags pension scheme woes ahead of corporate insolvency protection lift
Pensions schemes with sponsors facing severe economic difficulties due to Covid-19 must prepare for the lifting of temporary protections from corporate insolvency at the end of the year, Aon says.
Lady Green brings forward £50m DRC as The Pension Superfund eyes Arcadia schemes
Lady Tina Green has agreed to pay a £50m deficit recovery contribution (DRC) to Arcadia’s pension schemes earlier than scheduled.
Purple Book reveals scheme funding has worsened, but PPF remains confident of success
Scheme funding in the defined benefit (DB) universe has worsened, but the Pension Protection Fund (PPF) remains confident it can tackle the challenges ahead, it says as it launches its 2020 Purple Book.
Debenhams schemes remain in PPF assessment after rescue attempt fails
Debenhams’ pension schemes are continuing in Pension Protection Fund (PPF) assessment after administrators failed to rescue the company from collapse.
Green and TPR urged to find solution for Arcadia scheme members
The collapse of Sir Philip Green’s retail giant Arcadia must be met with clear solutions and support for its pension scheme, which looks likely to enter Pension Protection Fund (PPF) assessment, Stephen Timms has said.
Trustees have 'false confidence' in their scheme strategies
Nearly every trustee is confident of the next stage in their scheme’s strategy, despite almost an equal number being forced to consider replacing plans within the prior 12 months, according to research by Barnett Waddingham.
Companies overstate liabilities by £60bn amid Covid deaths
Companies could be overstating their pension liabilities by up to £60bn due to their life expectancy assumptions, according to XPS Pensions Group.
Updated: Landmark GMP ruling 'significant challenge' for schemes
Defined benefit (DB) schemes that provide GMPs must revisit and, where necessary, top-up historic cash equivalent transfer values (CETVs) that have been calculated on an unequal basis, a landmark court judgment said last week.
FCA must stop DB transfer history repeating
Regulators must act now to impose some "proper regulation" to stop another defined benefit (DB) transfer advice disaster, saysTim Sargisson.
DB funds as an economic lever could derail schemes from responsibilities
Opportunities for defined benefit (DB) schemes to pursue investment approaches that help repair the UK’s economy cannot stand in the way of improving member outcomes, Aegon says.
DB transfer activity rises as 60% show signs of possible scams
More members transferred out of defined benefit (DB) pension schemes in October after September's record lows while values were surprisingly stable, according to XPS Pensions Group's Transfer Watch.
Funding negotiations in uncertain times
Joanna Smith says trustees will need to accurately identify if covenant issues are short-term affordability concerns, or the start of more material deterioration.
FCA opened 67 investigations into DB transfer advice over last three years
Consumer complaints against firms for misadvised DB transfers also rising
Not every McCloud has a silver lining
Moira Warner looks at what changes to the Judicial Pension Scheme actually mean.
'Unanswered questions' remain around DB scheme funding
Questions remain unanswered around defined benefit (DB) scheme funding, according to analysis by Lane Clark & Peacock (LCP).
DB schemes make gains in Q3 but covenant concerns remain
Defined benefit (DB) pension schemes almost recovered to pre-coronavirus levels in the third quarter after strong performance of growth assets and a rise in nominal interest rates.
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