All Covenant articles – Page 3
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NewsRussia business suspension disrupts Mothercare deficit repayments
Retailer Mothercare will not fully pay the first instalment of its deficit repair contributions schedule this month and will enter into negotiations with its schemes’ trustees over its timetable for future payments.
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NewsNatWest pumps £427mn into pensions as govt reduces its stake
NatWest Group has paid £427mn into its pension scheme as a result of an off-market purchase of ordinary shares from HM Treasury, which saw the government’s stake in the banking group drop beneath 50 per cent for the first time since the 2008 financial crash.
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NewsPlumbing Pensions to use member funds to fight section 75 claims
The Court of Session in Edinburgh has granted Plumbing Pensions permission to use member funds to defend against legal claims from employers over its pursuit of section 75 liabilities.
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News‘Quirk’ sees public sector pay freeze hit teachers’ pensions annual hikes
A ‘quirk’ in the way teachers’ pensions are calculated could mean some teachers stand to suffer an extra loss as a result of the public sector pay freeze, as pension calculations normally triggered by a change in earnings have not occurred.
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NewsTPR to issue new guidance on employer covenant
On the go: The Pensions Regulator is working on fresh guidance regarding employer covenant, which may emerge in autumn of this year.
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NewsClimate change could impact sponsor cash flow and longevity
On the go: Climate change could have significant impact on sponsor covenant, hitting cash flows and potentially impacting sponsor longevity, according to a report from the Employer Covenant Practitioners Association.
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NewsEmployers look to modify USS proposals in light of inflation
On the go: Universities UK, the group representing 340 employers in the Universities Superannuation Scheme, has proposed temporarily removing a cap on inflationary increases proposed as part of its solution to the scheme’s controversial 2020 valuation, following member concerns.
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NewsProfit warnings from DB sponsors jump two-thirds
On the go: Profit warnings issued by UK-listed companies with defined benefit pension schemes leapt by 69 per cent between the third and fourth quarters of 2021.
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NewsUCU proposes solution to avoid further USS strikes
The University and College Union has presented a new set of proposals it says will avert future strike action over Universities Superannuation Scheme benefits.
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News
PIPAs seeking the best and brightest of the pensions industry
The Pension and Investment Provider Awards for 2022 have now opened for submissions.
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NewsAccountancy institute publishes DB guidance for auditors
On the go: The Institute of Chartered Accountants in England and Wales has published new guidance aimed at helping auditors understand defined benefit pension scheme figures and establishing best practice when filing requests for information.
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NewsTPR’s DB funding code consultation delayed until ‘late summer’ 2022
The second consultation into the Pensions Regulator’s new defined benefit funding code will be delayed until “late summer” 2022.
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NewsDB funding code’s bespoke route could reduce schemes’ costs
Forty per cent of FTSE 350 defined benefit schemes will not be sufficiently well funded to opt for the ‘fast-track’ route in the Pensions Regulator’s forthcoming DB funding code, but the bespoke route offers significant cost savings.
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NewsScottish pensions agency proposes raft of LGPS amendments
The Scottish Public Pensions Agency has launched a consultation into a host of changes to the Local Government Pension Scheme in Scotland, covering early payment of pensions, survivor benefits and the cost cap.
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NewsTPR opens investigations into 9 DB schemes over funding concerns
On the go: The Pensions Regulator has opened investigations into nine defined benefit schemes, following an engagement exercise designed to assess the risk to savers posed by employer covenants impacted by Covid-19.
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OpinionSponsor transactions – Are trustees under a false sense of security?
Cardano Advisory’s director Hamish Reeves details how the new rules from the regulator will affect corporate transactions and explains what trustees should look out for in these deals.
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NewsBT targets cash flow-matched strategy by 2034 with IRM
The BT Pension Scheme is using integrated risk management to assess its appropriate level of risk and pace its transition from equities to a fully cash flow-matched strategy by 2034.
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NewsUnion slammed as ‘at odds with reality’ as USS strike action begins
On the go: Employers have once again hit out at the University and College Union over strike action set to commence on Wednesday.
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NewsClara Pensions to begin accepting transfers after TPR clearance
The Pensions Regulator has cleared consolidator Clara Pensions to begin accepting transfers, opening up a new endgame option for defined benefit schemes.
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NewsEmployers’ wish list for TPR’s DB funding code
On the go: Employers have expressed support for some elements they would like to see outlined in the second consultation on a new defined benefit funding code, which is expected in the next few months.