DB & DeriskingRSS

PPF confirms 2019/20 levy at £500m

On the go: The Pension Protection Fund has confirmed that the levy it expects to collect for the 2019/20 year is £500m, down from the £550m estimated for 2018/19.

CMA ups pressure on trustees and advisers to seek best deal

New requirements on trustees to shop around for fiduciary management and challenge their advisers will generate better value for members, experts have said in response to measures set out by the Competition and Markets Authority.

PPF confirms 2019-20 levy at £500m

On the go: The Pension Protection Fund has confirmed that the levy it expects to collect for the 2019-20 year is £500m, down from the £550m estimated for 2018-19. 

PIC reinsures £1.2bn of longevity risk with SCOR

On the go: The Pension Insurance Corporation has finalised a £1.2bn longevity reinsurance contract with independent global reinsurance company SCOR.

DB schemes move into surplus

On the go: UK defined benefit pension schemes have moved into surplus after the Pension Protection Fund made changes to the way the PPF 7800 Index is calculated.

UK pension deficit could increase by £219bn in a hard Brexit

On the go: A no-deal Brexit could see the aggregate buyout deficit of UK pension funds rise by as much as £219bn (37 per cent), according to Cardano. 

Tower Hamlets completes £700m equity protection strategy

On the go: The London Borough of Tower Hamlets Pension Fund has undertaken a £700m equity protection strategy with Schroders.

Government fires ‘starting gun’ on superfund deals

A government consultation published last week will allow the UK’s commercial defined benefit consolidators to press ahead with their first deals, it has been claimed, although some experts say questions remain over how the businesses can be prudently regulated.

Field calls for swift action from TPR on Johnston pre-pack

On the go: Chair of the Work and Pensions Committee, Frank Field MP, has written to the Pensions Regulator with serious concerns about the possible 'dumping' of pension liabilities using a pre-pack deal.

DWP expects superfunds to have 99% probability of success

On the go: The Department for Work and Pensions has outlined its thinking on the regulation of commercial defined benefit consolidation vehicles in a consultation, removing a major hurdle to scheme sign-up.