Defined Benefit

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.

Mark Hyde Harrison said he wanted to use the opening speech of the conference - his last as chairman of the National Association of Pension Funds (NAPF) - to get the debate going.

Jonathan Stapleton asks if small DB schemes can access the benefits of scale

Jack Jones says the new Kodak scheme could still end up in the PPF

The winding up of defined benefit (DB) schemes has led to increased demand for pension trustee liability insurance, the Occupational Pensions Defence Union (OPDU) says.