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      event logo
      Webinar: Using passion for ESG to unleash member engagement

      This webinar will look at how pension schemes can harness their members’ interest in ESG to engage them more broadly with their pensions. In particular, it will look at exclusive research showing how members are reacting to ESG; their propensity to act versus their actual behaviour; and the expectations they have of providers in this regard.

      • Date: 26 Jan 2021
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      Investment Conference

      This two part Investment Conference will bring you the latest updates from economists, asset managers and pension consultants. We will be taking a look at the outlook for the 2021 economy, alternatives, cashflow strategies and global equity markets to name a few, assessing how they fared through the volatility and what we can expect for the year ahead.

      • Date: 27 Jan 2021
      • Digital Conference
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      Webinar: What to put on your GMP Equalisation project roadmap for 2021

      This webinar will bring together views from actuaries, lawyers, administrators, trustees and data experts to look at the pragmatic, collaborative solutions that are open to schemes to solve the GMP equalisation challenges in 2021. It will assess the individual challenges schemes face with equalisations and provide some practical options that are available to resolve these issues.

      • Date: 02 Feb 2021
      • Webinar
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      Webinar: Will the world return to normal in 2021?

      In this webinar, PP editor Jonathan Stapleton will be joined by BMO’s chief economist Steven Bell and director of fiduciary management, Christy Jesudasan, alongside PTL trustee director Melanie Cusack and Isio’s head of fiduciary management oversight Paula Champion to discuss the significant impact of these themes on the pensions sector.

      • Date: 04 Feb 2021
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  • Whitepapers
    • How DC schemes can gain exposure to different asset classes in a low-return environment

      So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap,' ‘pension freedoms' or consultations around ‘value for money', says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).

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      Pension freedoms three years on

      In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme members in the world of pensions.

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    You are currently accessing ProfessionalPensions via your Enterprise account.

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discount rates

Tougher audit stance leading to 'bunched' discount rates
Tougher audit stance leading to 'bunched' discount rates

FTSE 350 defined benefit (DB) schemes are "bunching" around an average discount rate of 2.8% due to higher yields and a tougher stance from auditors, Hymans Robertson research finds.

  • Defined Benefit
  • 11 July 2019
Con Keating: Discount rates and DB pension scheme valuation - A history lesson
Con Keating: Discount rates and DB pension scheme valuation - A history lesson

It is important to look back at how the discount rate methodology came about in the first place, says Brighton Rock Group's head of research

  • Defined Benefit
  • 27 September 2018
Centrica's pension deficit falls by £857m in H1
Centrica's pension deficit falls by £857m in H1

Centrica has announced the funding hole across its pension schemes fell by 97% to £29m at the end of June 2018.

  • Defined Benefit
  • 31 July 2018
Being 'economical' with the truth with discount rates
Being 'economical' with the truth with discount rates

Iain Clacher and Con Keating say there is much confusion over pension valuations and argue all the methods currently used are wrong. They say a pragmatic resolution could be to use the expected return on assets

  • Defined Benefit
  • 05 June 2018
Death by discount rate: The fundamental flaws of the accounting approach to pension scheme valuation
Death by discount rate: The fundamental flaws of the accounting approach to pension scheme valuation

Controversy over the discount rate used to value defined benefit pension liabilities is nothing new but, as Tim Wilkinson and Frank Curtiss explain, the flaws may be more serious than many realise.

  • Law and Regulation
  • 29 May 2018
Tesco DB deficit plunges by £2.8bn after changing discount rate calculation
Tesco DB deficit plunges by £2.8bn after changing discount rate calculation

Supermarket giant Tesco has halved its overall defined benefit (DB) deficit after adapting its discount rate calculations to better reflect trends in long-dated corporate bond yields.

  • Defined Benefit
  • 11 April 2018
First Actuarial's DB index surplus reaches record high in November
First Actuarial's DB index surplus reaches record high in November

All 6,000 UK schemes had a surplus of £358bn by the end of last month when calculated under a best estimate return on their assets, according to First Actuarial.

  • Defined Benefit
  • 20 December 2017
FTSE 100 funding level drops by 3% over 2016
FTSE 100 funding level drops by 3% over 2016

The combined deficit of FTSE 100 defined benefit (DB) schemes grew by more than £10bn over 2016, Barnett Waddingham research has estimated.

  • Defined Benefit
  • 15 June 2017
Gilts plus 'unhelpful' in current climate, survey says
Gilts plus 'unhelpful' in current climate, survey says

Over half of pension professionals believe the 'gilts plus' valuation method is unhelpful in the current economic environment, according to Aon Hewitt research.

  • Defined Benefit
  • 22 May 2017
Centrica's pensions deficit balloons by £1bn over 2016
Centrica's pensions deficit balloons by £1bn over 2016

Centrica's defined benefit (DB) pension deficit soared by 855% in 2016, its latest annual accounts have revealed.

  • Defined Benefit
  • 22 March 2017
RM's pension deficit rises nearly 60% in a year
RM's pension deficit rises nearly 60% in a year

Education technology provider RM has seen the deficit of its defined benefit (DB) scheme rise by £12.8m in one year.

  • Defined Benefit
  • 07 February 2017
Flawed discount rates are harming business
Flawed discount rates are harming business

Michael O'Higgins argues a sensible approach to assessing DB cash flow needs would lead to better business decisions.

  • Risk Reduction
  • 16 December 2016
Sainsbury's pension deficit rises £674m in six months
Sainsbury's pension deficit rises £674m in six months

Sainsbury's has seen the shortfall of its defined benefit (DB) scheme increase to £1.1bn by 24 September following a "significant" fall in discount rates.

  • Defined Benefit
  • 10 November 2016
DB schemes in £358bn surplus under 'more realistic' discount rate
DB schemes in £358bn surplus under 'more realistic' discount rate

The UK's 5,945 defined benefit (DB) schemes have an overall funding ratio of 133% under realistic investment return assumptions, according to First Actuarial.

  • Defined Benefit
  • 19 October 2016
Have your say: Should the government delay LISA?
Have your say: Should the government delay LISA?

This week we want to know if the government should delay bringing in the lifetime ISA, after concerns the industry might not be ready.

  • Industry
  • 26 September 2016
Cost of public service pensions to rise annually by £3bn
Cost of public service pensions to rise annually by £3bn

Maintaining public sector pensions will cost £3bn more each year with employer contributions expected to rise according to KPMG.

  • Defined Benefit
  • 04 April 2016
Why can't actuaries make their minds up?
Why can't actuaries make their minds up?

John Gray asks why agreement can’t be made on appropriate discount rates for the LGPS

  • Defined Benefit
  • 07 March 2016
We need a broader debate on discount rates
We need a broader debate on discount rates

Hilary Salt says we need to take another look at how discount rates are used.

  • Defined Benefit
  • 22 January 2016
Do schemes need to overhaul investments for 2016?
Do schemes need to overhaul investments for 2016?

While rising rates will reduce liabilities, global divergence in monetary policy poses serious risks for scheme funding levels, writes Stephanie Baxter.

  • Investment
  • 05 January 2016
Discount rates for blue chip schemes on the rise

Average IAS19 discount rates used by FTSE100 companies to calculate pensions deficits have risen for the first time in five years.

  • Defined Benefit
  • 23 June 2014
Range of scheme accounting assumptions narrows

The range of accounting assumptions used by scheme sponsors to value pension liabilities narrowed significantly last year, according to research from KPMG.

  • Defined Benefit
  • 24 April 2014
LPFA offers LGPS employer contribution assessment service

The London Pension Fund Authority (LPFA) has launched a risk-based employer contribution assessment for Local Government Pension Scheme (LGPS) funds.

  • Defined Benefit
  • 14 March 2014
BT scheme deficit hits £7.3bn

The BT Group pension scheme's deficit hit £7.3bn gross of tax after an increase in market inflation expectations.

  • Defined Benefit
  • 03 February 2014
Sainsbury's sees £635m drop in actuarial valuation deficit

Sainsbury's defined benefit (DB) scheme actuarial deficit has fallen by £635m over the three years between March 2009 and 2012, its interim results show.

  • Defined Benefit
  • 14 November 2013
123

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