deficit
Schemes in 'denial' over dependence on 'once-a-century' equity performance to close funding gaps
Underfunded defined benefit (DB) pension schemes in the UK are over-dependent on historically improbable equity returns, analysis by Willis Towers Watson reveals.
Taylor Wimpey sees £8.9m actuarial loss on DB scheme
Taylor Wimpey saw an actuarial loss on its defined benefit (DB) pension scheme of £8.9m in the year ending 31 December 2019, significantly lower than the £84.3m loss the year prior.
Force CEOs to join company DB scheme to prevent reckless behaviour, says study
Forcing company bosses to join the same defined benefit (DB) schemes as their staff could protect pensions better than the threat of prison sentences for scheme mismanagement, Warwick Business School (WBS) has suggested.
DB funding improves by £18bn, says JLT index
The UK's 5,600 defined benefit (DB) schemes saw their funding positions improve by one percentage point over the course of November, according to JLT Employee Benefits.
PPF 7800 funding level reverses six months of growth before factoring GMPs
The combined funding level decreased by just over four percentage points by the end of last month to 93.6%, according to the Pension Protection Fund's (PPF) latest update.
Kodak Pension Plan 'likely to move into the PPF', say trustees
The trustees of the Kodak Pension Plan No.2 (KPP2) have said it will likely enter the Pension Protection Fund (PPF) in "due course" after reviewing the scheme's investment in Kodak Alaris.
FTSE 100 pension schemes slip back into deficit
The UK's 100 largest listed companies saw their combined defined benefit (DB) funding level fall by 80 basis points during August, according to JLT Employee Benefits.
First Actuarial's DB index surplus reaches record high in April
All 6,000 UK schemes had a surplus of £361bn by the end of last month when calculated under a best estimate return on their assets, according to First Actuarial.
FTSE 350 pension accounting deficit slashed by £4bn in Q1
The combined deficit of FTSE 350 defined benefit (DB) schemes fell to £72bn in the first quarter of 2018, according to Mercer's pensions risk survey.
GKN trustees reach agreement over Dana merger
GKN has reached an agreement with its scheme trustees as part of a $6bn (£4.3bn) proposal to merge its Driveline businesses with Dana Incorporated.
University staff set to strike after pension talks fail
A month of strikes are due to hit 64 universities from tomorrow over major reforms to the Universities Superannuation Scheme (USS).
Pension Protection Fund 7800 deficit slashed in half as gilt yields rise
The combined defined benefit (DB) deficit decreased by £52.8bn over January to £51.0bn on a section 179 basis, according to the Pension Protection Fund's (PPF's) latest update.
Forcing firms to get TPR clearance to pay dividends is impractical
Respondents say dividend clearance regime for firms with pension deficits is a bad idea.
USS launches consultation over valuation assumptions after fall in future return expectations
The Universities Superannuation Scheme (USS) has launched a consultation with Universities UK (UUK) on proposed assumptions for its 2017 valuation.
DB funding deficit grows 10% over August
The collective deficit of defined benefit (DB) schemes increased by £40bn to £460bn over August after falls in long-term rates, according to PwC's Skyval index.
ECWG issues guidance to help DB stakeholders manage risks
The Employer Covenant Working Group (ECWG) has published guidance to help stakeholders of defined benefit (DB) funds manage distressed scenarios.
Field: USS deficit and transfer advice should be areas of concern for WPC
Frank Field MP has said the £12.6bn deficit at the Universities Superannuation Scheme (USS) and the transfer advice individuals receive are topics which demand closer scrutiny.
Johnston Press in talks with trustees over company restructuring
Johnston Press has asked the trustees of its defined benefit (DB) plan to support a bid to overhaul the business due to pressure from heavy debts and declines in print sales.
£150bn cash injection over past decade has barely dented FTSE 100 deficits
The accounting position of FTSE 100 defined benefit (DB) schemes has worsened from a £12bn surplus to a £17bn deficit over the last 10 years despite mammoth contributions.
Barclays' pension deficit rises nearly a third in one year
The actuarial funding deficit on Barclays' main defined benefit (DB) scheme has risen to £7.9bn in its September 2016 triennial valuation, following falls in gilt yields.
GKN confirms DB closure and £250m cash injection
Engineering group GKN has announced it closed its two UK defined benefit (DB) schemes to future accrual on 1 July, after falls in bond yields increased liabilities in 2016.
DB giants have average funding level of 98%
Two in five defined benefit (DB) schemes with over £1bn of assets have an accounting surplus or zero balance, according to research by Barnett Waddingham.
DB funding levels improve 2% over June
All UK private sector DB schemes saw a £50bn improvement in funding levels on a funding measure in June, according to PwC's Skyval index.
Support for FTSE 350 schemes weakest since recession
The UK's 350 largest listed companies are becoming increasingly unlikely to be able to meet their pension obligations, PwC research has suggested.
