DB & DeriskingRSS

SFGB opens for business

On the go: The Single Financial Guidance Body launches this week, as three existing providers of government-sponsored financial guidance merge.

PPF starts payments following ECJ ruling

On the go: The Pension Protection Fund has begun to top up the compensation of members receiving less than 50 per cent of their original pension promise, following a landmark ruling by the Court of Justice of the European Union.

UK DB deficit shows modest improvement over 2018

On the go: The aggregate accounting deficit of all UK private sector defined benefit pension schemes has shown a modest improvement over the year, according to JLT Employee Benefits, falling to £107bn at December 31 2018 from £119bn a year earlier.

TPG Sixth Street Partners to invest up to £500m in Clara Pensions

On the go: Superfund Clara Pensions has announced that TPG Sixth Street Partners, a global credit and credit-related investment platform partnered with private equity group TPG, will become its provider of long-term capital.

Reuters Pension Fund completes £625m pensioner buy-in

The trustee of the Reuters Pension Fund and Thomson Reuters have completed a £625m full pensioner buy-in for the scheme, in the biggest annuity transaction yet for insurer Canada Life.

£300m to be paid out by DB funds in transfers, buyouts and buy-ins

On the go: For the first time ever, nearly one third of a trillion pounds will be paid by UK private sector defined benefit pension schemes over a three-year period, from 2019–2021 according to Mercer.

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.

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.