M&S portal launch sees 12,000 DB members sign up

M and S teaser

Marks and Spencer launched a new portal service for its pension scheme members to access employee pension records around the clock and enable them to complete a wide range of tasks.

Diageo offers PIE and writes to members after rise in DB transfers

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The Diageo Pension Scheme is offering a pension increase exchange exercise to defined benefit pensioners, and has outlined plans to write to deferred and active members explaining transfer options, following a spike in members cashing out.

Taylor Wimpey foresees £20m GMP funding hit

Taylor Wimpey teaser 2 (Bloomberg)

One of Britain's largest house-building companies, Taylor Wimpey, has announced that its pension scheme liabilities will increase by up to £20m in the wake of a recent legal ruling on guaranteed minimum pensions.

The Weekly Wrap: January 12 edition

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A round-up of the pensions industry stories published across the FT Group – from a pension lawsuit over student loan misdeeds, to Aussie supers and regulators slammed for failing members.

Half of FTSE 100 liabilities funded to buyout levels by 2029

Analysis: Once a distant dream for employers, full buyout is now becoming a reality for defined benefit sponsors, with up to 15 FTSE 100 companies already in a position to offload their liabilities to insurers.

Highland scheme mulls insurance policy for ill health retirement costs

Highlands

The Highland Council Pension Fund is considering the option of taking out an insurance policy to protect the scheme against substantial ill health retirement costs.

Comment & Analysis

Reducing your 2019-20 PPF levy

Giles Bywater

There are three main things trustees need to consider when it comes to re-execution of contingent assets, explains Giles Bywater, a pensions partner at law firm Mayer Brown.

What to consider when agreeing a recovery plan in 2019

Matthew Harrison

Matt Harrison, managing director at covenant specialists Lincoln Pensions, explains how recovery plans have been agreed in practice and how this may change due to an evolving regulatory landscape. 

Is consolidation only for the healthy?

Mark Hodgson

Gatemore's Mark Hodgson says the benefits of consolidators for weaker schemes are far from clear, and argues for a rethink of the framework on downgrading defined benefits.

Videos & Podcasts

A closer look at DB consolidation

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Podcast: Last month, the government published a consultation on the consolidation of defined benefit pension schemes. What is the outlook for DB superfunds? And what should trustees consider if they are thinking about switching from a sponsor covenant to a consolidator covenant? In this episode, Alex Hutton-Mills, managing director at Lincoln Pensions, and Paul McGlone, president of the Society of Pension Professionals, discuss the consultation and whether early adopter nerves are holding back inflows to the new DB consolidators.

Next steps for the pensions dashboard project

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Podcast: Earlier this month, the Department for Work and Pensions published its long-awaited feasibility report and consultation on how the industry can create online pensions dashboards. What does the industry make of the study? And how much progress is needed to make the project a success? In this episode, Girish Menezes, board director at the Pensions Administration Standards Association, and Anthony Rafferty, managing director of fintech company Origo, discuss compulsion, dashboard governance and data.

What can we learn from the Barnardo's outcome?

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Podcast: Earlier this month, the Supreme Court ruled that Barnardo’s cannot change the inflation protection it provides to members of its defined benefit scheme from the retail price index to the consumer price index. So, what does the result mean for other DB pension funds and their sponsors? Matthew de Ferrars, pensions partner at law firm Pinsent Masons, and Faye Jarvis, pensions partner at law firm Hogan Lovells, discuss what trustees can learn from the recent Barnardo's outcome.