All Barnett Waddingham articles – Page 4
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NewsFTSE 350 DB schemes back on track after Covid-19 blow
On the go: The majority of defined benefit schemes from FTSE 350 companies are back on track in terms of their funding goals, after being hit in 2020 by the economic crisis caused by Covid-19, according to research from Barnett Waddingham.
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NewsDB transfers hit by pandemic and rule changes
On the go: Cash equivalent transfer values have been significantly impacted by both the coronavirus pandemic and shake-up of defined benefit transfer advice rules, according to Barnett Waddingham.
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NewsTrustees not fully aware of new code of practice requirements
On the go: Many trustees are not fully aware of the requirements of the Pensions Regulator’s new code of practice, a survey by Barnett Waddingham has found.
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NewsCould FSCS cope with a major bulk annuity provider default?
As sponsors offload their pension schemes to insurers, industry experts fear that an ever-increasing concentration of assets with a small group of players could lead to compensation schemes being overwhelmed in a major downturn.
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NewsTwo in five women have taken action over their pensions
On the go: Fears over the gender pensions gap, which is leaving women worse off financially in retirement than their male counterparts, have driven almost half (44 per cent) of working age women with a workplace or private pension to take action regarding their pensions, according to new research from Barnett Waddingham
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News
Women have up to 45% less income at retirement than men
On the go: Women have 25 to 45 per cent less in their pension pots at retirement than men, according to new research.
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News
Pension schemes’ liabilities overstated up to £60bn
On the go: Defined benefit schemes’ liabilities may be overstated from 1.5 per cent up to 3.5 per cent following the Covid-19 pandemic, according to pensions consultancy XPS.
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NewsDB schemes can be severely impacted by Libor closure
The end of the London interbank offered rate at the end of this year is expected to have huge consequences for defined benefit schemes, which historically have been using it for different asset class investments and even for managers’ benchmarks.
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News
Guide launched to assess investment consultants’ climate competence
On the go: The Investment Consultants Sustainability Working Group has launched a guide to help trustees in assessing their investment consultants on climate competency.
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NewsEngineering group speeds up derisking as market nears £30bn
At the tail end of what has been the second biggest year ever for derisking transactions, engineering services group Renew Holdings completed a £110m buy-in with Rothesay Life for its Lovell Pension Scheme.
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News
2021 could see ‘gold rush’ in DB transfers after 50% drop in 2020
After member interest in transferring out of defined benefit schemes dropped by 50 per cent during the first lockdown, transfer values have recovered and 2021 could even see a “gold rush” in activity.
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RPI reform to leave linker owners short-changed from 2030
The government is to press ahead with controversial reforms to the retail price index leaving index-linked gilt holders worse off, but has decided to delay the move until 2030.
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Covid delays Kent fund remedies after Woodford debacle
The Kent County Council Superannuation Fund’s auditor has flagged delays in attempts to learn lessons from the Woodford debacle as a serious risk to the scheme.
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BHS exec scheme next to achieve PPF-plus outcome
On the go: The defined benefit scheme for senior management at defunct retailer BHS has bought out its benefits, allowing the plan to exit the Pension Protection Fund’s assessment period.
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News
Majority of DB schemes’ recovery plans on track before Covid
Data crunch: Only a third of defined benefit schemes extended their recovery plan end date in 2019, but pandemic storms are set to see pension funds entering choppy waters, with insolvency looming for some sponsors and trustees being asked to make tough decisions.
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Old British Steel scheme agrees £2bn buy-in
On the go: Thousands of steelworkers could receive a boost to their pensions after a £2bn buy-in was agreed — a first step towards a full buyout, taking the scheme out of the Pension Protection Fund.
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Features
Can ESG credentials improve member engagement?
The pensions industry is challenged when trying to engage young savers in their retirement savings — but there is a solution.
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Barclays Bank coughs up £750m in unusual DRC move
In an unusual arrangement, Barclays Bank UK Retirement Fund’s deficit recovery plan remains on track through a self-investment, as the scheme subscribed to a £750m bond issued by an entity of the banking group.
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McCloud to delay LGPS progress on pensions dashboards
The McCloud reform will create challenges for Local Government Pension Scheme funds to provide information for the pensions dashboards, with a delay that could take up to three years.
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Consultants seek to push up industry sustainability standards
A new working group formed by 12 UK investment consultants is aiming to encourage standardisation of practices and meaningful action on sustainability among asset owners.