Budget 2018: PPF and schemes to fall in insolvency priority ladder
Defined benefit (DB) schemes and the Pension Protection Fund (PPF) are set to receive even less in sponsor insolvencies as the Treasury moves the taxman higher up the repayment ladder.
From April 2020, HM Revenue and Customs (HMRC) is to become a ‘preferential creditor' under plans announced in the Budget yesterday (29 October), moving from the ‘unsecured creditor' category it currently...
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Scheme sponsors face £100bn in costs under DB funding code and pensions bill rules, says LCP
The sponsoring employers of the UK’s largest pension schemes may have to put an additional £40-£45bn into their schemes over the next decade, Lane Clark & Peacock (LCP) warns.
What trustees looking to transfer to superfunds should consider
Caroline Kurup explores the latest TPR guidance on superfund transfers and what scheme trustees should be considering
Old British Steel scheme completes £2bn buy-in with PIC
The Old British Steel Pension Scheme (OBSPS) has agreed a £2bn full buy-in with Pension Insurance Corporation (PIC), one step closer to exiting Pension Protection Fund (PPF) assessment.
Schemes must meet three gateway principles for superfund transfers
Pension scheme trustees and sponsors should only seek to transfer members’ benefits to a defined benefit (DB) consolidator if there is no “realistic prospect of buyout in the foreseeable future”, The Pensions Regulator (TPR) says.
Bulk annuities: Optimise the inputs to improve the outcome
Much like when selling a house, DB plans need to tidy up before approaching the bulk annuity market, says David Ellis.
