Contingent funding is set to be used by three-quarters of schemes as they seek to cover liabilities without draining employer cash, says Lane Clark & Peacock (LCP).
Natwest will make a £500m one-off contribution into its main pension scheme after purchasing ordinary shares back from the Treasury.
The number of defined benefit (DB) schemes open to new members of future accrual fell again over the past year, continuing the long-term trend to scheme closure and wind-up, latest data from The Pensions Regulator (TPR) reveals.
Governance issues can directly impact the outcomes and value for money experienced by defined benefit (DB) scheme members, according to a paper from the Society of Pension Professionals (SPP).
The potential loss of scheme flexibility outlined in The Pensions Regulator’s (TPR) interim response to its defined benefit (DB) funding code should not be a concern as long as schemes can manage risk, the watchdog said.
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the February 2021 estimates on the various measures…
Changes to corporation tax announced in the Spring Budget could see defined benefit (DB) scheme sponsors defer contributions in favour of tax relief, according to Barnett Waddingham.
Universities Superannuation Scheme (USS) has reported a technical provisions deficit of between £14.9bn and £17.9bn as of 31 March 2020, and delayed its valuation as it considers how to proceed.
DB scheme consolidator Stoneport hopes to get 100 schemes signed up by the end of next year, but employer covenant will be vital, chief executive Richard Jones tells James Phillips.
The outlook for future longevity in the UK has not necessarily worsened as a result of the coronavirus pandemic, Aon says.
Mitchells & Butlers has deferred £13m of deficit recovery contributions (DRCs) after tier four Covid restrictions wreaked havoc across the hospitality sector.
British Airways (BA) has deferred deficit recovery contributions (DRCs) totalling £450m following an agreement with trustees after a catastrophic year for the airline industry.
Jump from 554 in 2019
The Plumbing and Mechanical Services (UK) Industry Pension Scheme was 99% funded on a low-dependency basis, a valuation conducted amid economic turmoil has confirmed.
Professional Pensions rounds up some of the latest tender awards from across the industry.
Plumbing Pensions faces a watershed moment after a governance review and strong valuation, says trustee chairman Jon Bridger.
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the January 2021 estimates on the various measures…
The Pension Protection Fund (PPF) has proposed several changes to its actuarial assumptions under various bases as part of a regular review, suggesting moves that would broadly improve scheme funding.
While the progress of the Pension Schemes Bill is to be celebrated, says John Chilman, it is important to secure further consensus to ensure the best outcomes for open defined benefit (DB) schemes.
The government has opted to proceed with its “deferred choice underpin” (DCU) route for implementing a remedy to the McCloud judgment for public sector workers.
The health of the UK’s defined benefit (DB) pension schemes has surpassed that of their pre-Covid levels as they continued to recover through final quarter of 2020, Legal & General Investment Management (LGIM) research reveals.
The Staffordshire Pension Fund has reappointed Hymans Robertson to a seven-year contract for investment consultancy services.
Michael Bromwich says USS’ 2020 valuation ramps up prudence, but perhaps unjustifiably, resulting in higher contributions.
Defined benefit (DB) pension scheme sponsors issued 249 profit warnings last year, 90% of which were specifically related to the coronavirus pandemic, according to EY.