DB schemes close 2016 with record year-end deficits
The aggregate deficit of FTSE 350 defined benefit (DB) schemes more than doubled in 2016, causing funding levels to plummet 10% in 12 months.
At the end of December, the combined deficit stood at £191bn on an IAS 19 accounting measure basis, according to the latest monthly update from JLT Employee Benefits. This is compared to £81bn at the...
More on Defined Benefit
Schemes to be slapped with £1.5bn bill for equalising past transfers
Schemes could be charged a £1.5bn bill to equalise past defined benefit (DB) scheme transfers after last year’s landmark GMP equalisation ruling, says Buck.
Covid-19 financial impact on DB schemes likely to be 'marginal'
The financial impact on defined benefit (DB) schemes from the Covid-19 pandemic is “likely to be marginal”, and only in the event of continued substantial additional deaths for many years would there be a significant reduction in UK DB scheme liabilities,...
What TPR's reports tell us about pre-pack deals
Luke Hartley looks at recent cases involving House of Fraser, Silentnight and Johnston Press
Pension transfer values recover after February dip
Defined benefit (DB) pension transfer values recovered by about a third last month after February’s sharp fall, according to figures from XPS Pensions Group.
Clearer DB guidelines on advice versus guidance needed, industry says
Guidelines on what is and is not viewed as defined benefit (DB) trustees providing members with regulated advice need to be clearer, respondents to a Professional Pensions survey say.
