DB & DeriskingRSS

TPR urges trustees to work flexibly with administrators

News On the Go

On the go: The Pensions Regulator has updated its Covid-19 guidance for trustees, highlighting that the pandemic “is placing huge pressures on the administration of pension schemes”.

TPR will not seek to punish trustees over tough pandemic decisions

Regulatory executive David Fairs has reassured defined benefit trustees that they will not be pursued over decisions they make in response to employers struggling in the wake of Covid-19.

Covid-19: Will Sunak’s latest stimulus aid DB sponsors?

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Market moves: Chancellor Rishi Sunak is reportedly considering measures to help the “squeezed middle” of UK corporates, while US president Donald Trump’s tweets set off a spike in oil prices.

Covid-19: Volatility returns to markets after UK banks scrap dividends

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While UK banks suspended dividend payments amid pressure from the regulator, European markets returned to volatile conditions. Meanwhile, FTSE 350 companies’ defined benefit schemes reached an accounting surplus.

Inflation change could shave 20% off pension incomes

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On the go: Government plans to change the way the retail price index is calculated could see savers’ lifetime pension income drop by almost 20 per cent as defined benefit schemes are hit.

Regulators warn over Covid-19 pension scams

News On the Go

On the go: Regulators have issued a warning that rising levels of vulnerability caused by the Covid-19 lockdown could see more savers targeted by scammers, as concerns about finances increase.

USS sticks with March valuation despite battered funding level

Market volatility has seen the Universities Superannuation Scheme’s asset portfolio shed more than 13 per cent of its value and its deficit pass £11bn in recent days, triggering concerns, but as yet no action, from trustees.

Covid-19: Actuaries to rescue as private markets to be tested

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Analysis of private debt markets suggests that with certain sectors of borrowers struggling with cash flows, lenders will have to be flexible and rely on well-written covenants. Meanwhile, actuaries are looking to help fight the global pandemic.

WPP shifts further £250m with PIC buy-in

News On the Go

On the go: Advertising giant WPP has entered a £250m buy-in contract with the Pension Insurance Corporation, adding to a £140m transaction already completed with the same insurer in 2018.

Ombudsman’s Royal Mail decision opens up Pandora’s box

The Pensions Ombudsman has upheld a complaint against the Royal Mail Statutory Pension Scheme for refusing to pay a deferred pension, providing a salutary lesson for employers who fail to keep adequate records.