Defined Benefit

A buyout which kept the MF Global scheme out of the Pension Protection Fund (PPF) was only achieved after the scheme's insolvent employer was threatened with regulatory action, says The Pensions Regulator (TPR).

Trustees of Cooper Tire's UK scheme have asked The Pensions Regulator (TPR) to intervene in the sale of its US parent company to Apollo Tyres, according to reports in the Financial Times.

Hymans Robertson's long standing onlineNavigator tool has been updated to provide trustees with instant information on scheme funding levels and cash flows.

The Department for Communities and Local Government (DCLG) has confirmed it is considering a single, national Local Government Pension Scheme (LGPS) fund.

The Greater Manchester Pension Fund (GMPF) has been chosen to host the Ministry of Justice's (MoJ) 35 existing probation trust funds, following a fund merger.

The Pensions Regulator (TPR) will consult on a new defined benefit (DB) code of conduct in November.

More than half this week's contributors rejected the notion of the Pension Protection Fund (PPF) taking on the schemes of solvent employers.

Contributors supported by a margin of two to one the idea of ring-fencing money raised through the Royal Mail sell off to fund the pension deficit taken on by the government.

The majority of contributors believe there will continue to be a role for actuaries in the pensions industry, even as defined benefit (DB) provision is phased out.

Funds aiming for buyout are targeting a "false objective" that constrains allocation to illiquid assets, Russell Investments managing director of client strategy and research Sorca Kelly-Scholte says.