All Actuarial articles
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NewsActuarial watchdog to develop technical guidance after Virgin Media rulings
The guidance will help actuaries who are asked to sign off on legacy pension scheme amendments retrospectively – an issue that has been plaguing certain private sector DB pension schemes since a 2023 court ruling.
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NewsActuary’s role in LGPS governance ‘could become blurred’, law firm warns
Burges Salmon lawyers have outlined that the recent case of Kensington and Chelsea reducing its contribution rate poses questions over the wider role of actuaries in the LGPS.
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NewsSimplify actuarial advice rules, argues SPP
Proposed new rules for actuarial advice should be revised to reduce unnecessary communication and complexity, according to the Society of Pension Professionals.
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OpinionDefining the role of the scheme actuary
Shoosmiths partner Paul Carney explores the role of scheme actuaries and how far their influence reaches through the lens of a recent Court of Appeal ruling.
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NewsWhat does a rise in the mortality rate mean for pension funds?
The Continuous Mortality Investigation (CMI) showed a rise in the UK’s average mortality rate, but the Institute and Faculty of Actuaries (IFoA) said it was likely to be a pandemic-related rise.
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NewsIFoA comes under fire for election delay
Candidates voice “deep concerns” about the Institute and Faculty of Actuaries’ decision to suspend council elections
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NewsUniversities staff to strike again over pay and pensions
On the go: More than 70,000 staff at 150 universities will strike on February 1, in a dispute that includes disagreement over the 2020 valuation of the Universities Superannuation Scheme
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NewsBritish Airways’ DRCs suspended as scheme reaches full funding
On the go: British Airways will not pay deficit reduction contributions as long as the New Airways Pension Scheme is 100 per cent funded, under a new agreement signed with the trustees.
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NewsManufacturer claims actuaries ‘almost put us out of business’
On the go: Construction products manufacturer Dixon International Group has told the Work and Pensions Committee that actuarial pressures in relation to its defined benefit scheme “almost put us out of business and several times pushed us into loss”.
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NewsUniversities set for ‘biggest ever’ strikes over pensions
More than 70,000 staff at 150 universities will go on strike for three days in November, in the latest escalation of a dispute that includes disagreement over the valuation of the Universities Superannuation Scheme.
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NewsUSS pension benefits ‘could be retroactively paid back’
On the go: The University and College Union has claimed that approximately £0.5bn in pension benefits cut by Universities UK could be paid back to around 200,000 staff in the Universities Superannuation Scheme.
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NewsLecturers’ USS lawsuit to proceed to the Court of Appeal
On the go: A lawsuit against Universities Superannuation Scheme directors alleging climate inaction and breaches of duty will be heard by the Court of Appeal.
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NewsAcademics back strike action over USS ‘pension cuts’
The Universities and College Union has secured a mandate to strike in 150 universities over member benefit cuts in the Universities Superannuation Scheme.
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NewsUniversity employers stick to USS cuts despite strike threat
Universities Superannuation Scheme employers have rebuffed renewed calls by the University and College Union to restore benefit cuts in response to the scheme’s controversial 2020 valuation, arguing there is “no solid evidence” to make benefit changes before the 2023 valuation.
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NewsBAE Systems Pension Scheme reaches full funding
On the go: The BAE Systems Pension Scheme is fully funded following its latest actuarial valuation, according to a July update.
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NewsCarr’s Group Pension Scheme eyes full buyout
On the go: The £75.6mn Carr’s Group Pension Scheme may secure a full buyout after its sponsor announced an agreement to sell its interest in a subsidiary.
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NewsNationwide university strike ballots set for September 6
The University and College Union has confirmed that strike ballots over pensions, pay and conditions will be held on September 6, potentially paving the way for “unprecedented” nationwide industrial action.
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NewsUCU threatens ‘unprecedented strikes’ as USS reaches surplus
The University and College Union has strongly criticised the decision to cut staff benefits, as the Universities Superannuation Scheme’s June monitoring report reveals a surplus of £1.8bn and universities prepare to embark on billions of pounds in capital expenditure.
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NewsTaylor Wimpey suspends escrow payments
On the go: Home construction company Taylor Wimpey has suspended escrow payments to its defined benefit pension scheme due to its strong funding position.
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NewsPandemic damage mitigated as quarter of schemes are in surplus
More than a quarter (27 per cent) of defined benefit and hybrid schemes with tranche 15 valuations were in surplus on a technical provisions basis, despite the market shock of the Covid-19 pandemic, according to the Pensions Regulator’s latest scheme funding analysis.