DB consolidation
Overloaded bulk annuity market to kickstart superfunds
A burgeoning superfund market could be on the cards within three years as defined benefit (DB) scheme trustees and sponsors face myriad legislative, economic, and capacity issues, says Lane Clark & Peacock (LCP).
Covid-19 pushes endgame back by 18 months
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.
EXCLUSIVE: Superfunds could complete multi-billion deals this year
Superfunds could be on course to complete multi-billion-pound transfers of defined benefit (DB) funds by the end of this year, Isio says.
PIC calls for creation of compulsory not-for-profit consolidator to take on smaller underfunded schemes
Pension Insurance Corporation has reiterated its call for the establishment of a new consolidation vehicle, run by a not-for-profit agency, to target smaller underfunded schemes with weak sponsors.
David Fairs: Why we have launched an interim superfund regime now
With the launch of an interim regime, the consolidation market is set to take off. But before superfunds begin taking on schemes, the regulator must have 'rigour and understanding' of the market, David Fairs tells James Phillips.
Superfunds: Schemes of steel?
As an interim regime for consolidators is launched, Emma Watkins looks at how to enhance protection of members’ benefits.
Coronavirus crisis underscores urgent need for superfunds
As new figures from the Pension Protection Fund show the shortfall of final salary schemes in deficit grew to £256.4bn during April, Joe Dabrowski examines how the superfund structure could help…if only we had one.
DB consolidation: Weighing up the options
A panel of experts have shared their views on how DB schemes can make good consolidation decisions. Kim Kaveh reports from the PLSA’s annual conference .
Clara: 'Shadow market' is huge for DB consolidation
Many schemes are actively thinking about defined benefit (DB) consolidation and are waiting in the wings for the superfunds to prove themselves before engaging, Clara says.
Pensions bill possible as date set for Queen's Speech
Boris Johnson's government will deliver its first Queen's Speech on 14 October, the prime minister has announced.
Webinar: Clara Pensions, KPMG and The Pension Superfund discuss DB consolidation
In this webinar, panellists discuss some of the key questions around defined benefit consolidation, including what it is trying to achieve and the suitability of various models.
Trustees 'could miss chance' to boost member security from lack of superfund awareness
Three in five trustees have not heard of Clara Pensions, one of two defined benefit (DB) consolidators to have launched since last year's government white paper.
Employer covenant is top risk facing DB schemes amid Brexit concerns, finds PTL
Concern about the potential impact on employer covenants has been rated the top risk for defined benefit (DB) schemes, according to a PTL survey.
Clara secures £225m backing from TPG Sixth Street Partners
Defined benefit (DB) consolidator Clara will get up to £500m of capital backing from global credit investment firm TPG Sixth Street Partners (TSSP), paving the way for its first deals.
PPF confirms levy for 2019/20; Confirms methodology for commercial consolidators
The Pension Protection Fund has published its final levy rules for 2019/20 following a consultation launched in September.
Five stories you may have missed this week
This week's top stories included the Department for Work and Pensions issuing two separate consultations on the pensions dashboard and defined benefit consolidation.
TPR to supervise DB consolidators seeking to enter the market
Defined benefit (DB) superfunds that wish to enter the market must talk to The Pensions Regulator (TPR) about their plans before opening for business.
Three to five years until CDC is up and running, says industry
It will take between three and five years before collective defined contribution (CDC) schemes are up and running, despite the government launching a consultation on the provision.
A guide to running off mature schemes
John McAleer sets out four areas where a change in approach to managing mature pension funds could lead to better outcomes for members, trustees and sponsors.
PLSA urges Hammond to address five pensions priorities in Budget
The government needs to boost pension schemes' access to illiquid investments, remedy the net-pay tax relief anomaly, and focus on securing a "successful Brexit" for pensions in its upcoming Budget, says the Pensions and Lifetime Savings Association (PLSA)....
PP research: Struggling businesses should not be allowed to suspend AE contributions
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
An inside look at Clara, the quiet DB consolidator getting ready to roar
With DB consolidation vehicles set to take the limelight, James Phillips speaks to Clara co-founders Adam Saron and Kim Toker about the fund's model, ambition and wider views
Lawrence Churchill named Clara's inaugural chairman
Lawrence Churchill has been appointed as the first chairman of defined benefit (DB) consolidator Clara's corporate board.
The Pension Superfund to split surplus with members and capital providers
Any surplus generated by The Pension Superfund will be shared between members and the defined benefit (DB) consolidator's capital providers, Alan Rubenstein has said.
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