Defined Benefit
The pathway to retirement income
Joo Hee Lee of Newton Investment Management discusses how schemes need to design investment options to match modern income requirements
Webinar: Clara Pensions, KPMG and The Pension Superfund discuss DB consolidation
In this webinar, panellists discuss some of the key questions around defined benefit consolidation, including what it is trying to achieve and the suitability of various models.
Lack of member understanding at retirement is key concern for trustees
The lack of defined benefit (DB) scheme members' understanding of their retirement decisions is a key concern for trustees and sponsors, according to survey conducted by Aon.
The Pension Superfund announces second deal
The Pension Superfund has signed its second deal, agreeing to take on £300m of defined benefit (DB) liabilities from an unnamed pension scheme.
Willis Towers Watson fiduciary clients see 23 percentage point funding increase
Willis Towers Watson's fiduciary clients have seen funding levels improve by 23.1 percentage points over the last 10 years, according to its latest performance figures.
West Midlands Pension Fund set to absorb transport authority fund
The government is consulting on merging the £0.5bn West Midlands Integrated Transport Authority Pension Fund (WMITAPF) with the £15.7bn West Midlands Pension Fund (WMPF).
Pension transfers pass £60bn mark
Pension transfers have passed the £60bn mark as more than a third of a million people access their defined benefit (DB) pots, a Freedom of Information (FOI) request has revealed.
Pension schemes falling short of TPR's expectations, finds XPS
A large number of pension schemes are falling short of The Pensions Regulator's (TPR) governance and trusteeship expectations, according to research by XPS Pensions.
DB funding - June 2019: 'Best estimate' surplus grows £14bn
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the June 2019 estimates on the various measures…
Railways Pension Scheme on TPR's watchlist since 2016
The Pensions Regulator (TPR) almost issued a warning notice against one of the firms involved in the Railways Pension Scheme (RPS) as sections of the scheme were placed on watch in 2016.
PPF weathers the storm but challenges lie ahead
The lifeboat fund is in a good position despite reserves taking a £0.6bn hit. But the ramifications of the EU judgment on member compensation is an area of concern for CEO Oliver Morley, writes Stephanie Baxter
Hargreaves Lansdown still slowest on pension transfers - Origo
Hargreaves Lansdown and Liberty SIPP have again been named as the slowest two providers to move pensions through Origo's Transfer Service.
10 weeks is appropriate for DB to DC transfer, say respondents
This week's Pensions Buzz respondents were mostly in agreement that 10 weeks is an appropriate length of time to conduct a full DB to DC transfer.
Treasury confirms discriminatory rules to be fixed across all public sector schemes
The government has confirmed the Supreme Court ruling that changes made to the firefighters' and judges' pension schemes in 2015 were discriminatory will now apply to all public sector schemes.
Schneider Electric grants £400m fiduciary management mandate to Aon
Schneider Electric has appointed Aon to provide full fiduciary management services for over £400m of assets held in the Schneider Pension Plan.
Tougher audit stance leading to 'bunched' discount rates
FTSE 350 defined benefit (DB) schemes are "bunching" around an average discount rate of 2.8% due to higher yields and a tougher stance from auditors, Hymans Robertson research finds.
TPR working with BoE to 'monitor' schemes' use of non-bank leveraged loans and derivatives
The Pensions Regulator (TPR) is working to "enhance" the Bank of England's monitoring of how schemes use non-bank leveraged loans amid warnings they may not be able to absorb losses in a stress scenario.
FCA Pension Plan slashes deficit by 28%
The deficit in the Financial Conduct Authority's (FCA) defined benefit (DB) scheme fell by £32.3m over the course of the year to 31 March this year, the watchdog has revealed.
Industry Voice: Regulatory pressure to bring forward the DB pensions endgame?
Corporates must place greater emphasis on their schemes' endgame target, says Barnett Waddingham.
Boris Johnson vows to fix NHS pension tax issue if he wins leadership race
Conservative leadership contender Boris Johnson has promised to fix the pension tax relief rules that are causing senior doctors and highly-paid staff in the NHS to work fewer hours leading to longer waiting lists.
BT blocked from third attempt to swap pensions index
BT will not be able to swap the index used to uprate part of its pension scheme after the Supreme Court denied permission to appeal, closing all legal avenues.
TPR could target the Greens' overseas assets for Arcadia schemes
The Pensions Regulator (TPR) has mooted pursuing Sir Philip and Lady Tina Green's overseas assets to ensure there are enough funds for the Arcadia pension schemes.
Pensions tax issues leading to longer NHS waiting lists
The next chancellor should urgently address "absurdly complex" tax relief rules as data reveals NHS waiting lists have lengthened due to senior doctors working fewer hours to avoid the charges.
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