Nine in 10 FTSE 350 defined benefit (DB) pension schemes could pay off their IAS19 deficit with less than six months of earnings, according to Hymans Robertson.
Its annual FTSE 350 pensions analysis showed that 44% of schemes were in surplus as at 30 June 2018. The consultancy also found that over one in 10 (12%) of the FTSE 350 could buy out without any cash...
Defined benefit (DB) transfer values continued to increase to yet another record high during July but the number of people opting to exit final salary schemes remains steady, according to XPS Transfer Watch.
Over a third of defined benefit (DB) schemes with valuations between September 2017 and September 2018 were in surplus, according to data from The Pensions Regulator (TPR).
Advice giant Quilter has set aside £24m to compensate British Steel workers advised to transfer out of their defined benefit (DB) pensions by Lighthouse, doubling its previous redress provisions.
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the July 2020 estimates on the various measures…
Defined benefit (DB) schemes will have to wait an extra year and a half on average to agree a buyout compared to their pre-Covid-19 endgame journey plans, Barnett Waddingham estimates.