UK - Standard & Poor's has assured firms defined benefit schemes are not, per se, incompatible with current ratings.
Last week it was reported that S&P credit analyst Lars Bjorklund said it would view firms closing DB schemes to new members as a “positive move”.
However, a spokesman said: “S&P is focusing more closely on pension deficits as part of its credit rating analysis but does not believe that DB schemes, per se, are incompatible with current ratings.”
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.