DB & DeriskingRSS

Positive outlook for bulk annuity transactions in 2022

News on the go

On the go: Insurers’ appetite for bulk annuities could be heightened in 2022 after a relatively slow 2021, according to research from Barnett Waddingham.

Govt to consult again on McCloud implementation in 2022

Fotoware

The Cabinet Office, Home Office, Department for Education and Ministry of Defence have each opened consultations into the first phase of the McCloud remedy, covering regulations that will see all legacy schemes close to future accrual from March 2022. However, new consultations on phase two of the remedy will be launched next year.

Union slammed as ‘at odds with reality’ as USS strike action begins

News on the go

On the go: Employers have once again hit out at the University and College Union over strike action set to commence on Wednesday.

Clara Pensions to begin accepting transfers after TPR clearance

Flickr

The Pensions Regulator has cleared consolidator Clara Pensions to begin accepting transfers, opening up a new endgame option for defined benefit schemes.

Think tank suggests USS members could transfer benefits to Sipps

News on the go

On the go: A think tank has suggested that members of the Universities Superannuation Scheme should be able to choose to transfer out part of their pension benefits to a self-invested personal pension scheme.

Employers’ wish list for TPR’s DB funding code

News on the go

On the go: Employers have expressed support for some elements they would like to see outlined in the second consultation on a new defined benefit funding code, which is expected in the next few months.

Derisking activity ramps up in Q3

Getty Images

Data crunch: Derisking activity picked up in the third quarter of 2021, as bulk annuity transactions reached their highest point of the year.

Pension lawyers support superfunds as ‘Plan B’ for DB schemes

News on the go

On the go: A large majority of pension lawyers believe that superfund transfers will become a strong consideration for defined benefit schemes with weak sponsors, as an alternative to the Pension Protection Fund or bulk annuity transactions, research has shown.

Teachers’ Pension Scheme faces high-profile ombudsman complaints

Pexels

The Teachers’ Pension Scheme is facing a number of potential high-profile complaints to the Pensions Ombudsman over alleged maladministration, including a grievance about a £98,000 overpayment, Pensions Expert can reveal.

Cabinet Office opens consultation as McCloud challenges mount

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The Cabinet Office has launched a consultation on how the McCloud remedy is to be implemented for members of the civil service pension scheme, while the GMB union has joined the list of those challenging it in the courts.