UK - The William Sutton Trust - one of Britain's largest housing associations - is to transfer members of its £44m scheme to the Social Housing Pension Scheme.
The move adds another 1000 employees to the Pensions Trust-run industry-wide scheme, bringing its total membership to more than 26,000.
The transfer will go some way to countering the five high-profile defections from the SHPS last year (PP Sept 26).
Shaftesbury Housing Group – one of the five to leave – said take-up of the scheme among its 1500 staff was “very low” and associated costs to members too high.
In an effort to boost membership, the Pensions Trust said it is kick-starting a marketing drive to get SHPS members to flag up their membership in their job adverts.
It is hoped the move will not only be a selling point for participating organisations, but will also pressure other associations to join the £600m scheme.
Head of strategic development Callum Walker said: “We’re suggesting our members put our logo on their ads like Investors in People that recognises them as members of the SHPS.”
PTL has appointed Karein Davie as a client director in its Birmingham office.
The level of interest rate hedging increased to £29.5bn of liabilities in the second quarter as pension funds continued to de-risk, according to BMO Global Asset Management's research.
UK inflation has risen for the first time since November to 2.5% in July, up from 2.4% in June, thanks to rising fuel costs and the price of computer games.
The number of DB pension scheme trustees targeting a buyout with an insurer has increased significantly in the past five years, latest research from Willis Towers Watson shows.