Defined Benefit
Hard-hit DB valuations a sour note on three-year contribution gains
The actuarial valuations of at least a quarter of UK defined benefit (DB) pension schemes are likely to have been “badly impacted” by coronavirus-related disruption to markets, says Aon.
The pensions impact of Covid-19 on company balance sheets
As the crisis drives up corporate bond yields, Phil Cuddeford explores the issues for scheme sponsors to consider when communicating their schemes’ accounting positions
Over 500 employers 'to delay deficit repairs'
Hundreds of employers are to seek to make use of deficit repair contribution (DRC) suspensions, says Lane Clark & Peacock (LCP).
Premier Foods to merge three schemes
Premier Foods will merge its three defined benefit (DB) schemes to allow for redistribution of surplus funding in the event of a scheme buyout.
Fraser Smart: Seeking a nirvana for BA pension members
Technology is at the heart of BA Pensions’ drive to help members and it wants to share that with others. James Phillips speaks to BA Pensions chief executive Fraser Smart.
Coronavirus crisis accelerates decline in pension transfer activity
Pension transfer activity has dropped to the lowest level since the introduction of the pension freedoms, research by Lane Clark & Peacock (LCP) reveals.
Schemes could see 12% funding drop from RPI move
Potential changes to the Retail Prices Index (RPI) could land some schemes with a fall in their funding level as high as 12% according to Barnett Waddingham.
DB funding - March 2020: 114 schemes fall into deficit in March, says PPF
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the March 2020 estimates on the various measures…
What can underfunded schemes do to recover?
As schemes prepare their long-term funding plans, Marian Elliott explores the key considerations they should focus on.
Mirror and Express publisher seeks deficit contribution suspension
Newspaper publisher Reach has requested discussions with the trustees of its pension funds to defer deficit recovery contributions (DRCs) to shore up finances during the coronavirus pandemic.
Debenhams fails to make pension payment as it prepares for administration
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.
LGPS goes live with cost transparency compliance system
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.
Covid-19: Six actions for scheme sponsors to consider
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.
USS to proceed with 31 March valuation despite asset falls
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.
TPR deficit contribution guidance welcomed but 'hidden implications' arise
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 urged to prepare for Covid-19 'material consequences' to DB schemes
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.
Public sector workers face 'massively complex' task of choosing scheme rules
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.
Covid-19: Dealing with a contributions crisis
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.
TPR urged to take pragmatic approach for looming valuations
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.
Plumbing Pensions seeks approval to fund legal battles for s75 non-payments
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.
Laura Ashley pension scheme expected to enter PPF assessment
The Laura Ashley Retirement Benefits Scheme is expected to enter Pension Protection Fund (PPF) assessment after the textile designer filed for administration today.
Three charts that show how the coronavirus has hurt pension schemes
Coronavirus (Covid-19) has rattled investors of all kinds, but the market reaction poses some challenges unique to pension funds, Duncan Lamont writes.
Clara 'in talks' over fundraise of up to £200m
Defined benefit (DB) consolidator Clara is in talks over a £200m fundraising exercise, PP understands.
Tapered allowance thresholds confirmed to rise by £90,000
The government will raise the two tapered annual allowance thresholds by £90,000 in a bid to reduce the tax impact on high-earning NHS staff.
