Deficits rise to worst level ever following rate cut
Defined benefit liabilities have risen by an eye-watering £70bn on the back of the Bank of England's (BoE) decision to cut interest rates and launch a new round of quantitative easing (QE).
Analysis by Hymans Robertson shows lowering the base rate to 0.25% and extending QE by £70bn led to 10- and 20-year gilt yields hitting record lows, increasing the total value of DB liabilities to £2.4trn....
More on Defined Benefit
TPR further delays DB funding code consultation until 'things have settled down'
The Pensions Regulator (TPR) will now seek to publish the first of two consultations on a revised defined benefit (DB) funding code in the new year, depending on the political environment.
NEST grows membership by nearly 30% in one year
The number of members to have ever used NEST rose by 28% over the 2018/19 fiscal year to 31 March, according to its research arm, NEST Insight.
A closer look at flexible apportionment arrangements
Flexible apportionment arrangements have become a commonly used tool for employers but, as Andy Lewis says, there can be issues for the unwary.
LEBC valuation slashed by a third after withdrawal from transfer market
LEBC’s majority shareholder B.P. Marsh & Partners has reduced the valuation of its holding in the group by 33%, following its withdrawal from the defined benefit (DB) transfer market.
PPF now paying higher compensation to all members affected solely by caps
The Pension Protection Fund (PPF) has begun increasing payments to all pensioner members whose compensation falls below 50% of their pre-insolvency entitlements solely due to caps.