Covid leaves Northern Ireland Water deficit recovery in rough sea

Northern Ireland Water could have to pay an additional £4.6m a year in deficit repair contributions to its scheme, but uncertainty about how Covid-19 has impacted its investment and ongoing negotiations with trustees makes it hard to gauge its recovery plan.

Larger DB schemes face £100bn bill due to new regulations

The impact of new regulations in the pension schemes bill and the future defined benefit funding code will mean that sponsors of the UK’s largest schemes will have to fork out £100bn over the next 10 years, according to new analysis from LCP.

DWP still keeping millions in the dark over loss of GMP top ups

Millions of people are still unaware of the loss of a valuable indexed guaranteed minimum pension benefit to their state pension since 2016, as the Department for Work and Pensions still has not complied with an Ombudsman ruling to inform the public of this deprivation.

Kier schemes agree cut to deficit contributions as funding improves

The trustees of construction company Kier Group’s defined benefit pension plans have agreed a new payment schedule, to reduce sponsor contributions as the schemes approach full funding.

Regulator unveils superfunds guidance for trustees

The Pensions Regulator has published new guidance for defined benefit schemes transferring into a commercial consolidation 'superfund', placing the burden of proof on trustees to show that their plan is in members' best interests.

Comment & Analysis

Reducing business risk from data breaches

Anthony Rafferty (teaser)

Pension schemes are improving their security against cyber crime, but it is in human mistakes that data shows significant business risk lies, argues Anthony Rafferty of Origo.

How schemes can improve member communication during pandemic

Brad Compton (teaser)

No scheme membership is alike, but all good communication strategies show empathetic consideration for the preferences of each individual member, writes Buck’s Brad Compton.

Guidance needs stronger nudges to prevent future disaster

Jo Cumbo (teaser)

The nudge theory, which has proved its worth as individuals have been defaulted auto-enrolment, should be extended to guidance appointments for members looking to access their pensions, writes Financial Times global pensions correspondent Josephine Cumbo.

Videos & Podcasts

The three-step plan to fix the NHS pension scheme

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Podcast: Peter Glancy, head of policy development at Scottish Widows, and Helen Morrissey, corporate PR specialist at Royal London, discuss a solution for the administration issues at the NHS Pension Scheme and the idea of using pensions as deposits for first-time buyers.

Arguments for DC consolidation stronger than for DB

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Podcast: The pace of defined contribution consolidation could accelerate on the other side of the coronavirus pandemic, but mergers are a less obvious boon for define benefit, say Squire Patton Boggs partner Kirsty Bartlett and Hadassah Shulman, senior associate at Taylor Wessing.

DB schemes could be ‘doomed to failure’ by new funding code

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Podcast: Defined benefit schemes could be “doomed to failure by measures that are designed to help them”, warns Baroness Ros Altmann, referring to the proposed new funding code.