Coronavirus
Accounting bodies release Covid-19 pension reporting guidance
Three accounting bodies have published specific Covid-19 guidance for the compilation of pension scheme accounts, recognising that “it can’t be business as usual”.
Employers to pay furloughed staff pension contributions from August
Employers will be required to pay a proportion of furloughed staff costs from August, Rishi Sunak has announced today.
Webinar: How DC defaults will evolve in a post-coronavirus world
Professional Pensions’ expert panel discusses how defined contribution (DC) default strategies will change following the crisis.
Flying felines: The uncertainty of today's markets
Sectoral diversification has shown its worth in this economic crisis, says Robert Scammell, but whether this is a ‘dead cat bounce’ is yet to be determined.
Andrew Bailey: BoE readying further 'unprecedented' response to coronavirus crisis
The Bank of England (BoE) is "ready to do more" to fight the economic consequences of the coronavirus pandemic and the measures put in place to tackle it, including further interest rate cuts and an expansion of its corporate financing facility, according...
FTSE 100 schemes in 'best position' for 20 years before onset of Covid-19
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).
Finding opportunity amid the volatility
Covid-19 has demonstrated how crucial it is for pension schemes to enter into economic crises in a position to react to opportunities with short-term windows, says David Lloyd.
Covid-19 impact on survivor mortality rates to be 'modest', study finds
Pension schemes and life insurers should be prepared for a modest change to their assumptions for mortality rates in the post-Covid-19 world, an academic study suggests.
Negative interest rate debate becomes 'very real' as UK inflation plunges to 0.8%
The debate concerning negative interests in the UK has now become “very real” after the UK Consumer Prices Index (CPI) 12-month inflation rate dipped to 0.8% in April from 1.5% in March, recording its lowest reading since August 2016 and putting it on...
DB funding consultation 'even more relevant' in Covid-19 world, says TPR
It would not be appropriate to rethink or completely abandon the planned revision to the defined benefit (DB) funding code, The Pensions Regulator (TPR).
How to help DC members approaching retirement during Covid-19
Jim Doran looks at how trustees of DC pension schemes can help members who are looking to retire.
DB funding code: It's a matter of principle
David Fairs set outs why the regulator believes the economic fallout from Covid-19 is not a reason to abandon revisions to the DB funding regime.
Sweating it out in the search for yield
Schemes looking for higher yields face more risk. Stephanie Hawthorne asks if they can take it on the chin in today’s feverish environment.
DB funding - April 2020: Deficit falls by £7bn, says PPF
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the April 2020 estimates on the various measures…
DB funding falls by 5.1 points during first quarter, says LGIM
The economic crisis provoked by Covid-19 led to a 5.1 percentage point fall in the average defined benefit (DB) funding position in the first three months of 2020, according to Legal & General Investment Management (LGIM).
Hold on to positives in oppressive times
While the Covid-19 pandemic will see many feel the pinch on their pension savings, it has the potential to drive real positives in the workplace, says Malcolm McLean.
BoE looks for 'rapid recovery' for battered UK economy
Keeps interest rates and QE at current levels
Trustees warned of DB contribution deferral agreements without 'switch-on' plans
Pension scheme trustees considering requests by employers to delay contributions into defined benefit (DB) schemes need more stringent plans for how contributions will be ‘switched on’ again, according to Lane Clark & Peacock (LCP).
How to meet AE duties for furloughed workers
While furloughed workers are still entitled to pension contributions, Justin Corliss says employers must consider the impact of Covid-19 on their duties.
Extend NHS scheme pays deadline, government urged
The government has been urged to extend the scheme pays deadline for NHS Pension Scheme members in light of the Covid-19 crisis.
Covid-19 widens divergence in scheme funding
The proportion of defined benefit (DB) schemes closed to future accrual has increased by 18 percentage points over the last five years, according to Barnett Waddingham.
Agreeing bulk annuities in a crisis
After a bumper year, insurers are now facing a slower and smaller pipeline as schemes grapple with Covid-19, writes James Phillips.
TPR publishes 2020 annual funding statement
The Pensions Regulator (TPR) has published its 2020 annual funding statement outlining how defined benefit schemes should approach forthcoming scheme valuations.
'Minimal impact' on levy bills this year, says PPF
Pension schemes should be unconcerned that Pension Protection Fund (PPF) levy bills will rise drastically this year as a result of the Covid-19 crisis, the lifeboat fund says.
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