The UK pension scheme of consultancy and insurance business JLT Group saw its IAS 19 deficit jump during 2016, as bond yields proved a leveller for schemes of all sponsor types.
Trustees and their actuaries must consider the impact of deficits and funding negotiations on struggling defined benefit sponsors, the president of the Society of Pension Professionals has warned.
Despite widespread confusion, most defined contribution savers are happy with the retirement choices they have made in light of the introduction of freedom and choice, with the exception of those who have purchased an annuity, a survey has found.
Experts have welcomed the government’s recent consultation proposing a new deferred debt arrangement for employers in multi-employer pension schemes, but concerns over complexity of employer debt regulation remain.
Jaguar Land Rover is switching its defined benefit schemes from final salary to a career average revalued earnings structure, as companies look to cut costs and manage risk while keeping employees on board.
Tata Steel has reportedly offered to contribute £520m to the British Steel Pension Scheme as part of a bid to reach a regulated apportionment arrangement with UK pension authorities.
Comment & Analysis
The Financial Conduct Authority's Christopher Woolard outlines the two key areas within pensions the watchdog will focus on over the coming year.
Schemes should prioritise whichever one will help them be better stewards of the assets they manage, says Kathleen Hughes from Goldman Sachs.
Employers and trustees must work together to create a fairer future for tomorrow's pensioners, says Broadstone's David Brook
Video: What do businesses say about the defined benefit green paper's focus on regulation, and where do unions have concerns about member protection? Rachel Smith, principal labour market economist at the Confederation of British Industry and Tim Sharp, policy officer at the Trades Union Congress, give their views.
Video: With short-term inflation rising, are interest rates likely to go up, and should unhedged schemes go into LDI now? How can growth assets be combined with LDI products, and what role will cash flow play for LDI strategies? Jonathan Crowther, head of UK LDI at Axa Investment Managers, and Sophia Heathcoat, investment consultant at Barnett Waddingham, discuss their expectations for LDI.
Video: As the Pensions and Lifetime Savings Association has highlighted four areas for potential change to the defined benefit landscape, Ashok Gupta, who chairs its DB Taskforce, talks about the proposals and the taskforce's aims.