Total defined benefit liabilities for UK schemes deflated to £267bn last month after May's record high of £312bn, according to Pension Protection Fund data.
The decrease in deficits over June saw aggregate funding ratios improve from 76.8% at the end of May to 79.6% last month. It pushed the number of schemes in surplus over the 1,000 barrier, with 1,044...
This week’s top stories included the launch of Punter Southall’s defined benefit scheme consolidator, while The Pensions Regulator laid down three ‘gateway principles’ for superfund transfers.
Escalating standards for sole trustees will become a norm for reputable firms, even if they are voluntary, says Nigel Hill.
Sole trustees will be expected to assess whether to report to The Pensions Regulator (TPR) if they are removed, or resign, from an appointment because of sponsor’s actions.
Overall mortality remains in line with pre-coronavirus trends despite a recent increase in Covid-19 related deaths, according to the Continuous Mortality Investigation (CMI).
Aon has been re-appointed by the £400m ITN Pension Scheme to provide fiduciary management services.