Defined Benefit
FTSE 350 DB spending drops £4bn in largest year-on-year fall in a decade
Aggregate spending on defined benefit (DB) pensions has dropped from £19bn to £15bn in 12 months, according to Hymans Robertson.
DB trustees urged to engage with advisers to avoid 'reputational damage'
Pension scheme trustees should actively engage financial advisers if members are looking to transfer out of their defined benefit arrangements and washing their hands of the process does not eliminate risk, a study has found.
Unilever sets out plans to overhaul DB offering; Unions join forces to quash proposals
Unilever has set out plans to overhaul its defined benefit (DB) pension arrangements in a bid to manage costs.
Average DB scheme able to meet 94% of benefits
A typical defined benefit (DB) scheme was able to meet 93.7% of its accrued pension rights as of 30 September this year, according to Legal & General Investment Management (LGIM).
Mobius Life launches specialist alternative fund range
Mobius Life has launched a specialist fund range in a bid to make alternative investment strategies available to more defined benefit (DB) schemes.
The next DB challenge: Being fully funded
As more schemes reach a fully funded status, it is important that the risk-averse environment is not codified into regulations, says Paul McGlone.
Insurers are letting down small DB schemes
Without specialist help, smaller DB schemes are being left behind in a bulk annuity market increasingly focused on mega-deals, says Rob Dales.
NHS England confirms emergency action on pension tax
NHS England has confirmed it will take urgent action on to ensure NHS workers who exceed their annual allowance during this financial year will be able to take on additional work without being left out of pocket.
Children's nursery director fined over misleading TPR on AE failures
A Merseyside pre-school nursery and its director have been ordered to pay £8,200 after admitting failing to enrol members of staff into a workplace pension scheme.
Grant Thornton launches DB risk management tool
Grant Thornton has launched an integrated risk management (IRM) software tool to support clients in better understanding defined benefit (DB) scheme funding options and their associated risks.
How wearables will disrupt life expectancy
There are a wide range of possible life expectancy disruptors. PwC's Paul Kitson looks at how one of these, wearables, could impact schemes.
TPR updates DB transfer guidance for trustees
Defined benefit (DB) trustees are now required to contact financial advice firms to ensure staff providing advice to a members are compliant under new adviser rules before carrying out a transfer exercise.
DB funding - October 2019: PPF 7800 index sees liabilities fall as gilt yields increase
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the October 2019 estimates on the various measures…
High Court approves BA deal with Airways Pension Scheme trustees
Justice Antony Zacaroli has approved the settlement deal between British Airways (BA) and the trustees of the Airways Pension Scheme (APS).
British Steel staff positive on Chinese buyout plans after pension collapse
A lifeline for British Steel in the form of a Chinese buyout would have positive implications for its workers caught up in its defined benefit (DB) pension transfer scheme saga.
DB consolidation: Weighing up the options
A panel of experts have shared their views on how DB schemes can make good consolidation decisions. Kim Kaveh reports from the PLSA’s annual conference .
Buck launches DB investment governance service
Buck has launched an investment governance service which aims to help defined benefit (DB) schemes prepare for their endgame.
Pension freedom withdrawals reach £30bn
Over £30bn has been withdrawn from pension pots since Freedom and Choice was introduced in 2015 for those aged over 55, according to latest data from HM Revenue and Customs (HMRC).
Pensions experts anticipate swift consolidation of DB schemes
The number of defined benefit (DB) schemes will fall in the next decade as superfunds begin to strengthen, pension professionals believe.
CMI data shows further mortality improvements
Pension schemes face higher liabilities as improvements in mortality rates trend towards their highest level in a decade.
DB schemes hunt for fairer endgame strategies
Defined benefit (DB) pension schemes are looking for untraditional ways to build endgame strategies in order to better balance member and employer needs, the Pensions Policy Institute (PPI) has found.
New Airways Pension Scheme to reach full funding four years early
British Airways (BA) has pledged an extra £150m in annual deficit recovery contributions (DRCs) to the New Airways Pension Scheme (NAPS) over the next four years.
TPR further delays DB funding code consultation until 'things have settled down'
The Pensions Regulator (TPR) will now seek to publish the first of two consultations on a revised defined benefit (DB) funding code in the new year, depending on the political environment.
A closer look at flexible apportionment arrangements
Flexible apportionment arrangements have become a commonly used tool for employers but, as Andy Lewis says, there can be issues for the unwary.
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