IAS 19
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.
Royal Mail cash-balance scheme records £9m surplus after first full-year
The Royal Mail Defined Benefit Cash Balance Scheme (DBCBS) has ended its first full-year with a £9m actuarial surplus, the company says.
FTSE 100 pension schemes see small funding improvement
Defined benefit (DB) schemes sponsored by the UK's 100 largest listed companies saw their combined funding level improve by 10 basis points during September, according to JLT Employee Benefits.
FTSE 100 schemes increase bond allocation to de-risk
Two-thirds of FTSE 100 DB schemes invest more than 50% of assets in bonds to tackle investment mismatching, according to JLT research. Victoria Ticha takes a closer look
FTSE 100 slashes DB deficit to near 100% funded
The UK's 100 largest listed companies saw their combined defined benefit (DB) deficit fall by 75% during June, bringing them very close to fully-funded status, according to JLT Employee Benefits.
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.
Royal Mail's accounting pension surplus drops by 42%
The combined IAS 19 accounting surplus of Royal Mail's defined benefit (DB) schemes fell to £2.2bn in March from £3.8bn a year ago, according to its annual report.
Trinity Mirror offers £41.2m cash for Northern & Shell pensions in planned M&A
The newspaper publisher is offering a one-off upfront £41.2m cash payment and £29.2m deficit recovery plan for the Northern & Shell defined benefit (DB) schemes as part of its planned acquisition.
DB funding deficit remains stable over September
The collective deficit of defined benefit (DB) schemes remained at £460bn from the end of August to the end of September, according to PwC's Skyval index.
Mooted change to accounting standard 'could see cash contributions slashed'
A planned amendment to IAS 19 under consideration by the International Accounting Standard Board (IASB) could have big consequences for scheme funding arrangements.
Taxpayer cost for Royal Mail pension soars 22% over 2016
Government-backed liabilities in the Royal Mail Statutory Pension Scheme (RMSPS) rocketed more than £8bn over the year to 31 March, according to Cabinet Office documents.
Reduced inflation expectations push DB deficit down £9bn
The accounting deficit of FTSE 350 defined benefit (DB) schemes fell by £9bn over July on the back of lower long-term inflation expectations, according to Mercer's latest index.
Reduced longevity estimates see deficits fall £100bn in March
The funding level of defined benefit (DB) schemes improved by five percentage points in March on the back of a reduction in mortality improvements, JLT Employee Benefits has estimated.
Deficits stabilise after turbulent 2016 but still at challenging levels
Private sector pension deficits have stabilised as markets show resilience, but are still more than double what they were 12 months ago.
IASB rejects calls to change DB accounting standard as it should 'reflect economic reality'
International Accounting Standards Board chairman, Hans Hoogervorst, has said arguments to change the accounting standard are "flawed" as it should reflect the economic reality, no matter how ugly.
Go-Ahead Group to change accounting for rail pensions
The Go-Ahead Group has announced it is revising the accounting policy for its rail pension schemes.
M&S faces £127m 'sting in the tail' charge following DB closure
Marks and Spencer's (M&S) decision to close its defined benefit (DB) scheme to future accrual from April 2017 has resulted in a £127m charge.
Have your say: Could the Uber ruling boost AE for the self-employed?
This week we want to know if the Uber ruling will spur the government to do more to extend auto-enrolment for the self-employed.
Pension-related insolvencies could be prevented by more stringent accounting
IAS 19 is the accounting standard many sponsors use to make disclosures about their defined benefit schemes in their records. But a report from Lincoln Pensions argues IAS 19 is not good enough. Michael Klimes investigates.
RBS to pay £4.2bn into DB scheme on back of accounting changes
Royal Bank of Scotland (RBS) will pay ten years' worth of pension contributions into its defined benefit (DB) plan by March following IAS-driven changes to its accounting policies.
Honeywell takes on £900m in DB liabilities after Elster acquisition
Honeywell International will take on the bulk of Melrose Industries' defined benefit (DB) pension schemes with the £3.3bn acquisition of its Elster business.
FTSE 100 deficits swell 60% in a year
Pension deficits at the UK's top 100 firms have ballooned 60% in the past year, carrying on a trend of spiralling funding gaps for schemes.
RBS pension liabilities down 23% after £1bn cash injection
The Royal Bank of Scotland (RBS) has seen the net liabilities of its pension schemes drop 23% after making a £1.1bn employer contribution last year, according to its annual results.
Fair, balanced and understandable annual reports ‘crucial' - FRC
Annual reports that are "fair, balanced and understandable" are a "crucial" part of high quality reporting, the Financial Reporting Council (FRC) says.
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