DB & DeriskingRSS

Automation improves insurer scheme admin but work still to do

The Royal Insurance Group Pension Scheme has reported a “considerable improvement in service” from administrator Willis Towers Watson, after two years of problems that have hurt the scheme’s ability to service transfer requests.

Lookers merges defined benefit schemes

UK motor resale company Lookers has amalgamated two of its defined benefit pension schemes, as experts highlight the improved efficiency and cost savings associated with mergers.

DB schemes inch closer to full PPF funding

On the go: Defined benefit schemes in the UK are nearing full funding on the Pension Protection Fund's section 179 basis, with an aggregate deficit of £62.8bn at the end of July.

Mid-market direct lending approach 'too constraining', WTW says

Mid-market direct lending is “now demonstrating signs of material deterioration in credit underwriting and future return potential”, according to a report by consultancy Willis Towers Watson, which is instead recommending its clients invest in debt for US real estate and UK commercial real estate.

BHS successor scheme concludes buyout

On the go: The BHS2 pension scheme, which was set up in 2017 after the collapse of department store chain BHS, has completed a buyout with the Pension Insurance Corporation that will cover £800m of liabilities.

SES Water cites Ofwat price review in proposed scheme closure

SES Water, formerly known as Sutton and East Surrey Water, has opened a consultation with members on the closure of its defined benefit section to future accrual, citing efficiencies demanded by water regulator Ofwat.

Bulk annuity volumes break H1 record

On the go: UK pension schemes entered into a record £7.8bn of buy-ins and buyouts in the first half of 2018, as large 'back-book' transfers between insurers failed to disrupt the market's capacity.

DB transfers heading into costly drawdown products, research finds

Defined benefit members transferring out of their scheme to take advantage of freedom and choice may be wasting money on fees for flexibilities they are unlikely to use, according to a new report.

South Yorkshire builds dashboard to remedy data backlog

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The South Yorkshire Pensions Authority has developed a dashboard to help monitor information as part of a development plan to solve its longstanding data woes.

Bank of England raises base rate to 0.75%

The Bank of England has raised its base interest rate to 0.75 per cent, its highest level since February 2009.

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