All CMS articles – Page 2
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News
General Motors completes £53m bulk annuity deal
On the go: General Motors’ Vauxhall Associated Companies Pension Fund has completed a £53m bulk annuity purchase with Aviva.
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OpinionDo asset-backed funding structures need an update?
It has now been more than a decade since Marks and Spencer implemented the first asset-backed funding structure, and some of the industry’s pioneering arrangements are showing their age, according to CMS’s Alex Nicklin and Rizwan Rahman.
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FeaturesUMSS focuses on sustainability with new equity manager appointments
The £609m University of Manchester Superannuation Scheme has appointed two new equity managers who invest in companies picked on sustainability grounds.
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Features
Testing times for charity DB pension schemes
At the beginning of last year, the Royal Society for the Protection of Birds closed its defined benefit pension fund and replaced it with a new defined contribution scheme.
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OpinionDC mastertrust consolidation: The long-term outcome
CMS’s Jennifer Bell and Daniel Shaw discuss mastertrust authorisation and the future of defined contribution consolidation.
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OpinionAre consolidation vehicles the future for DB schemes?
Companies offering a cheaper alternative to buyout have unions and others concerned about letting defined benefit employers off the hook via regulatory arbitrage, writes CMS’s Caroline Kurup, but consolidators remain attractive where insurance remains the end point for scheme liabilities.
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NewsTourist board employers block scheme valuation
The British Tourist Authority and VisitScotland have yet to sign off on their scheme’s 2015 valuation as they are looking to secure guarantees from the UK and Scottish governments, in what has been described as a “torturous” process.
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NewsScotland’s transport police could get separate scheme section
Members of the British Transport Police Force Superannuation Fund are set to be moved to a new section in the scheme from April 2019 if trustees agree, while new recruits will join the unfunded police arrangement or Local Government Pension Scheme.
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Features
Wholesale changes to rules are needed to enable DB consolidation
Pensions Expert 20th Anniversary: Amalgamating defined benefit corporate pension funds could reduce costs, improve investment and make for better governance, but it is still unclear whether full DB consolidation is a chimera or the fix to a fragmented system.
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Features
How will regulation need to change to be fit for the 21st century?
Pensions Expert 20th Anniversary: When the world’s first funded occupational pension plan appeared towards the end of the 16th century in the form of a large iron chest, its success was short-lived.
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OpinionWhat to look out for with sectionalisation
There are a number of reasons trustees and employers may want to sectionalise their schemes, but it is not always plain sailing, according to Laura McLaughlin and Thibault Jeakings at law firm CMS.
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OpinionWhat defines a professional trustee?
Laura Clarke from law firm CMS gives tips on what to look for in a professional trustee in the absence of a regulatory requirement for qualification.
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OpinionInnovation in the bulk annuity market
James Parker, Peter Coyne and Mark Jenkins of CMS Cameron McKenna outline two innovations driving the bulk annuity market following Solvency II
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OpinionLatest ombudsman decisions – and what trustees can learn from them
Dominic Harris and Keeley Frampton from law firm CMS Cameron McKenna summarise and interpret recent cases from the High Court and pensions ombudsman that schemes and employers can learn from.
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News
Cross-border plans could be greater lure for employers under IORP
Analysis: The burden on cross-border pension schemes to be fully funded at all times could be lifted as the Institutions for Occupational Retirement Provision II directive moves nearer its final version.
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Opinion
How DB schemes can offset end of contracting-out costs
The end of contracting out means extra costs for defined benefit sponsors and members. CMS Cameron McKenna’s Johanna Clarke and Keith Webster reveal how employers can ease some of the pain.
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OpinionEurope: What UK schemes need to know about legal changes
European regulators have eased off on some of the more stringent requirements for trustees, but CMS’s Maria Rodia and Thibault Jeakings say trustees still need to keep up to date with legal changes.
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OpinionCommutation conundrums not so trivial
From the blog: Most pension schemes are considering derisking and most of those are considering trivial commutation.
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Features
Are your data handling processes compliant?
Any other business: Hillary Clinton found herself in hot water recently over use of a private email account during her tenure as US secretary of state. The breach of White House data protocols ignited criticism.
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FeaturesWedgwood shows need to revisit s75 debt rules
With Wedgwood having to sell its pottery collection to fund its £134m pension deficit, Pippa Stephens looks at how understanding section 75 debt could minimise insolvency risk.
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