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....
Senior clinicians within the NHS Pension Scheme will receive extra assistance to adjust their pension accrual to fit within tax allowances.
The Pensions Regulator (TPR) chief executive Charles Counsell has warned scheme trustees could see an increased demand for cash equivalent transfer values (CETVs) from defined benefit (DB) members.
Costly DB scheme regulations can result in abuses of equitable relations among stakeholders, say Iain Clacher and Con Keating.
Almost three-quarters of FTSE 100 defined benefit (DB) pension schemes were in surplus on an accounting basis as the coronavirus crisis hit, according to Lane Clark & Peacock (LCP).
The Local Government Pension Scheme (LGPS) cut its deficit by £31bn over the course of three years, its latest annual report shows.