All Contributions articles – Page 2
-
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.
-
NewsMorgan Advanced Materials makes £67mn advance contribution
On the go: Manufacturing company Morgan Advanced Materials has agreed to make an accelerated contribution of £67mn to its UK defined benefit pension schemes, as part of a deal that will see the trustees increase inflation and interest rate hedging levels.
-
NewsUSS surplus hints at ‘positive choices’ over contribution rates
On the go:The Universities Superannuation Scheme has swung into a £5.6bn surplus, according to its latest monitoring report, offering the possibility of “positive choices” regarding future contribution rates, while sparking fury among those taking strike action against scheme reforms.
-
NewsCivil servants vote for strike over pensions
On the go: Civil servants have voted to strike with the highest level of support for industrial action in the Public and Commercial Services Union’s history, in a dispute that includes pensions.
-
NewsFBU hits out at senior firefighter use of 'retire and rehire' practice
The Fire Brigades Union has accused some senior bosses across 13 UK fire and rescue services of having used controversial arrangements to access their pension early.
-
NewsOmbudsman hits Paint Hale Ltd with £1,000 fine
On the go: The Pensions Ombudsman has ordered Paint Hale Ltd to repay missing pension contributions to a former employee and fined the company £1,000 for the distress it caused her.
-
NewsLGPS employer contributions could rise despite improved funding
The Local Government Pension Scheme Scheme Advisory Board has noted the possibility of employer contribution rates rising, despite the expectation that many local authority schemes will have improved their funding positions — or even moved into surplus — as of March 31 2022.
-
NewsTPR salvages more than £500mn in missing contributions
On the go: The Pensions Regulator has secured more than £500mn worth of late or missing contributions since the advent of auto-enrolment, it has claimed.
-
NewsSainsbury’s sets up £500mn loan to DB scheme for LDI crisis
Sainsbury’s has set up a £500mn loan facility to ensure its defined benefit scheme has enough liquidity to face collateral calls on its liability-driven investments.
-
NewsAon warns of 'unintended consequences' from pension campaign
On the go: Aon has warned the Pensions Awareness Week campaign could have “unintended consequences” due to the current cost of living crisis.
-
NewsPost-pandemic retirement surge increases LGPS expenditure
A rise in the number of people retiring following the pandemic contributed towards a 6.6 per cent increase in Local Government Pension Scheme expenditure, new data from the Department for Levelling Up, Housing and Communities has revealed.
-
NewsLabour ‘should bring in workplace pension for self-employed’
On the go: A future Labour government should look to establish a workplace pension for self-employed workers, a centre-left think tank has said.
-
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.
-
NewsQuarter of workers unaware of workplace pension contributions
On the go: More than a quarter (26 per cent) of UK workers do not know how much they contribute to their workplace pension each month, according to new research commissioned by Standard Life.
-
NewsPension contributions down as UK faces ‘retirement time bomb’
On the go: Two-fifths of businesses with more than 500 employees have warned that employees are lowering their pension contributions in response to the cost of living crisis, according to one pension provider.
-
NewsYields ‘can’t spike again’: Schemes respond to liquidity pressures
Analysis: On September 23, chancellor Kwasi Kwarteng rose to his feet in the House of Commons to deliver a “mini” Budget that would have profound consequences for pension schemes.
-
NewsSmart Pension acquires Ensign Master Trust
On the go: Smart Pension has acquired the Ensign Master Trust, making it the eighth such consolidation by the provider, which has promised that an average 25-year-old member would be “thousands of pounds better off” as a result of the move.
-
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.
-
NewsEmployers face contribution calls to maintain schemes’ hedging ratios
The sponsoring employers of defined benefit pension schemes look set to be called on for advances of contributions or additional funding, as schemes seek to preserve their liability hedging and lock in their improved funding levels.
-
NewsCost of living crisis fuels enquiries on amending contributions
On the go: One in five of the pension schemes surveyed by the Pensions and Lifetime Savings Association have received enquiries from savers about reducing or stopping their pension contributions.