DB & DeriskingRSS

Almost a third of tranche 14 schemes in surplus

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Detailed analysis of triennial valuations with due dates up to January 2021 show that almost one in three defined benefit and hybrid schemes are in surplus, but many pension funds face a headwind due to falling interest rates.

Professional trustee board appointments increase 60%

News on the go

On the go: The number of schemes appointing professional trustees is on the rise, with almost half of pension fund boards now having such arrangements, which compares with one in five schemes five years ago, according to LCP research.

Legal & General DB scheme secures £925m derisking transaction

News on the go

On the go: The Legal & General Group UK Pension and Assurance Fund has completed a £925m assured payment policy transaction with Legal & General Assurance Society.

Aon and WTW cancel $30bn mega-merger

News on the go

On the go: Aon and Willis Towers Watson have abandoned their planned $30bn (£21.7bn) merger after an intervention from the US Department of Justice.

PIE exercises can be a 'win-win' for schemes under current conditions

News on the go

On the go: Improved regulatory clarity and rising inflation rates could mean now is the time for DB pension schemes to consider offering a pension increase exchange to their members, according to LCP.

Employer seeks £265,000 in damages from Plumbing Pensions

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A plumbing employer has filed a summons at the Court of Session in Edinburgh seeking more than £265,000 in damages from Plumbing Pensions over its alleged repeated failures to manage the scheme’s Section 75 debt.

Trustees of Morrisons’ schemes in talks with Fortress after takeover bid

News on the go

On the go: The trustees of Morrisons’ defined benefit schemes are in talks with representatives of Fortress Investment Group, which has made an offer to takeover the British retailer.

Border to Coast on track to deliver £110m in cost savings

News on the go

On the go: The circa £24.7bn Border to Coast Pensions Partnership is on track to deliver more than £110m of cumulative net savings within its first decade of pooling and more than £250m in the first 15 years, according to its annual report.

Weekly Roundup: A bad week for the DWP

Dreamstime

This week – DWP loses court battle on PPF cap, PHSO takes aim at the department over ‘maladministration’, USS employers pledge greater covenant support, and government U-turns on minimum pension age.

Too much jargon hampers sustainable investing drive

Podcasts

Podcast: Georgia Stewart, chief executive of Tumelo, and Chris Hulatt, co-founder of Octopus Group, talk sustainability, inter-generational fairness and cryptocurrencies.