Coronavirus
Covid restrictions lead Mitchells & Butlers to defer £13m of contributions
Mitchells & Butlers has deferred £13m of deficit recovery contributions (DRCs) after tier four Covid restrictions wreaked havoc across the hospitality sector.
BA defers £450m of DRCs after 'swift and severe' pandemic closures
British Airways (BA) has deferred deficit recovery contributions (DRCs) totalling £450m following an agreement with trustees after a catastrophic year for the airline industry.
Market Movers Blog: Platform bosses urge Treasury to open up 'unfair' IPO market - reports
In this live blog, Professional Pensions' sister title Investment Week collates all the breaking market news, analysis and opinion on equity, bond and currency movements as well as the impact of trade wars, tightening monetary policy and the Brexit negotiations....
Covid has forced us to a crossroads for tech
The technological developments arising out of the pandemic will change the pensions industry forever, says Darren Philp.
Government response 'crucial' as UK GDP nudges 1% higher in Q4 2020
UK GDP was 1.2% higher in December 2020 as eased lockdown restrictions for the month helped to bring total growth for the fourth quarter of the year to 1% overall, according to the latest Office for National Statistics (ONS) data.
What will the real estate sector look like after Covid-19?
Retail and hotels have taken the brunt of lockdowns, while logistics and residential have fared much better. Even when Covid-19 is bought under control, the path of recovery is far from straightforward, writes Stephanie Baxter
Employee DC contributions drop by 11% amid pandemic pressures
Defined contribution (DC) contributions were scaled back by 11% in the second quarter of 2020 as the impact of the pandemic set in, according to the Office for National Statistics (ONS).
Navigating covenant and ESG in 2021 - what does the environment look like?
Michael Bushnell looks at the continuing impact of the pandemic on employer covenant and ESG risks, and how schemes can plan ahead.
CMI: Deaths 51% higher in week to Christmas than in 2019
Deaths in England and Wales were 51% higher in week 52 of 2020 than the corresponding period of 2019, although partly inflated by bank holidays, according to the Continuous Mortality Investigation (CMI).
Why you must be proactive to address risks in the 'new normal'
Tim Shepherd and Beth Brown look at the legal implications of working from home and how pension professionals can mitigate the risks.
Companies overstate liabilities by £60bn amid Covid deaths
Companies could be overstating their pension liabilities by up to £60bn due to their life expectancy assumptions, according to XPS Pensions Group.
Be ready for sponsor distress, TPR tells trustees in fresh guidance
Trustees must know the signs of sponsor distress and be prepared to act quickly as the “first line of defence” for savers, The Pensions Regulator (TPR) has warned.
BoE increases QE to £875bn but avoids negative interest rates
The Bank of England (BoE) has voted unanimously to increase its purchase of UK government bonds by £150bn and to maintain rates at 0.1%, shunning rumours of a move towards negative interest rates.
A post-war approach to inflation?
Supply will need to be rebuilt following the forced shutdown, potentially pushing up inflation and reasserting the need for adequate hedges, writes James Phillips
Worse off savers refrain from changing pensions
Pension savers have held off from making changes to their pensions despite nearly half having been impacted by the pandemic, research finds.
PPF levies: The calm before the storm?
Lewys Curteis looks at what the changes to the PPF’s levy rules mean for schemes over the long-term.
TPR: Just 4% of schemes have agreed DRC deferrals
Around one in 25 pension schemes have made use of regulatory easements to deficit recovery contribution (DRC) payment schedules, according to The Pensions Regulator (TPR).
Schemes must face the future to drive better outcomes
Julian Mund writes about planning for the future and the four challenges he sees for the pension industry over the next five years.
2021 will bring 'triple whammy' for covenant support
Sponsor covenants are facing a “triple whammy” moving into 2021 as the effects of Covid-19, Brexit and macro-economic conditions combine, Lincoln Pensions warns.
What Covid-19 means for longevity and bulk annuities
Darryl Brundle and Ashley Kanter look at the contrasting pressures and easements on longevity associated with the pandemic
PPF probability of success drops to lowest ever level as reserves plummet by 16%
The Pension Protection Fund (PPF) has an 83% probability of success for its target of being self-sufficient by 2030 as of March this year, a six percentage point drop from 2019.
Time ticking to complete fiduciary management retenders
With under three-quarters of a year left for retendering exercises to be completed, capacity issues could arise and reduce choice, writes James Phillips.
Coronavirus Blog: Covid-19 plunges UK economy into deepest ever recession
In this live blog, Professional Pensions brings together all the latest news on the industry's response to the coronavirus pandemic, as well as regulatory and legal updates.
PPF drops multi-year approach to cut levy to lowest since 2006/07
Around 2,000 small schemes could see their levies cut as the Pension Protection Fund (PPF) consults on introducing a tapered approach to its risk-based levy while temporarily dropping its multi-year approach.
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