DB & DeriskingRSS

No end to liability build-up for charity schemes

Some of the worst-funded not-for-profit scheme sponsors are unable to cease future accrual or limit future membership as defined benefit affordability continues to pose a threat to the sector.

HP sets up trustee company in simplification push

Bloomberg

The Hewlett Packard Limited Retirement Benefits Plan has changed the structure of its trustee board to a trustee company, in a move to simplify processes while increasing scrutiny of trustee actions. 

BA judgment shows value of diligent minute-taking

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British Airways has lost a legal battle against the Airways Pension Scheme involving the trustees' decision to introduce a 0.2 per cent discretionary increase, as experts have stressed the importance of carefully documenting all decision-making processes.

S&N dives into infra and absolute return funds

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The Scottish & Newcastle Pension Plan has agreed to introduce a new allocation to infrastructure debt while increasing its absolute return exposure, as schemes seek steady returns and diversification.

Manchester University upgrades investment strategy

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Trustees of the Manchester University Superannuation Scheme have adopted a new liability-driven investment strategy, while dropping a UK equity mandate in favour of global equities.

Regulator zeroes in on dividends

The Pensions Regulator has targeted employers who pay large dividends while underfunding defined benefit pension schemes in its latest annual funding statement, increasing the pressure on trustees to secure as much funding as possible.

Tata and BSPS agree terms for PPF-plus deal

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Trustees of the £15bn British Steel Pension Scheme have agreed the key commercial terms of a regulated apportionment arrangement with sponsor Tata Steel UK, which would see members offered modified benefits as part of a new scheme.

NHS attacks put cyber security back on the agenda

Pensions administrators have urged schemes to review their cyber security arrangements and question their advisers' practices after the WannaCry ransomware targeted British organisations including the National Health Service.

John Lewis Partnership protects future with LDI

John Lewis shops for matching assets

The John Lewis Partnership Trust has introduced a liability hedging programme increasing its hedge ratio to 60 per cent, in a move experts said would protect significant recent contributions.

Industry divided over retrospective changes to pensions

Nearly half of pensions professionals and scheme representatives believe that retrospective changes to pensions promises should be allowed, according to a recent survey, suggesting growing concern over the level of defined benefit liabilities.

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