DB & DeriskingRSS

75% of DB funds paying out more money than they receive, finds Buck

News On the Go

On the go: Three-quarters of defined benefit schemes are now cash flow negative with contributions no longer sufficient to meet regular benefit payments, according to Buck.

FCA plans to ramp up supervision of transfer advice market

News On the Go

On the go: The Financial Conduct Authority intends to ramp up its supervision of the most active firms in the transfer advice market, after finding that 69 per cent of people seeking advice had been recommended to transfer between 2015 and 2018.

Unions allege govt sidestepped advice on NHS pensions

News On the Go

On the go: The Department for Health and Social Care is under fire for reportedly deciding to pursue its ‘50:50’ reform for NHS Pensions before it had received a report commissioned from its advisory board.

Lloyds Banking Group completes second trustee board merger

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Lloyds Banking Group now has a single trustee board for its four largest pension schemes, after completing its second pension trustee board merger in three years.

More schemes offering member concessions on DB closure

The number of defined benefit funds undertaking benefit reviews has soared since 2014, recent research has revealed, prompting yet more scheme closures amid a growing tendency to offer member concessions.

Arcadia CVA proposals approved

News On the Go

On the go: All seven of Arcadia’s company voluntary arrangements have been approved by the required majority of the retailer’s creditors.

Fate of Arcadia on a knife edge

News On the Go

On the go: A crucial vote takes place today on a rescue package for Sir Philip Green’s beleaguered Arcadia Group.

PSIG calls on trustees to review procedures amid rise in scammers

The Pension Scams Industry Group exhorted trustees to review their scam prevention procedures on Tuesday, as pension fraud attempts continue to rise despite tightening government regulations.

DB deficit grows during May

News On the Go

On the go: UK defined benefit funding levels dropped by four percentage points on aggregate at the end of May, according to the latest update from the Pension Protection Fund.

Rolls-Royce and L&G complete record £4.6bn deal

On the go: Rolls-Royce has completed a partial buy-in on the way to buyout in excess of £4.6bn, securing the benefits of around 33,000 members of the Rolls-Royce UK Pension Fund.