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Latest DB news
Mirror Group pension scheme secures £150m buy-in with Just
The MGN Pension Scheme – which was raided by Robert Maxwell in the 1980s – has secured a £150m buy-in covering 1,300 of its pensioner members.
Three quarters of trustees are open to using surplus release power
The government intends to make changes to the Pensions Act 1995 to allow trustees to change defined benefit pension scheme rules to facilitate surplus release.
Royal London completes biggest bulk annuity deal to date with law firm’s scheme
Law firm Grant Thornton has sealed a £275m buy-in for its defined benefit pension scheme with Royal London, securing the pensions of 2,200 members and establishing a route to a full buyout.
Relief for DB schemes as government pledges action on section 37 issues
The DWP has said the government will legislate to address the issues posed by the Virgin Media-NTL case and allow for retrospective actuarial approval to be given to historic amendments.
‘Game changer’: Pension Schemes Bill laid before parliament
The government will today introduce the much-anticipated Pension Schemes Bill to parliament, setting the stage for a wide-ranging and ambitious overhaul of workplace pensions in the UK.
Trustees urged to consider all endgame options as rule changes loom
The Pensions Regulator has set out new guidance around endgame options - but has acknowledged that more will be needed as the government brings in new rules.
Features and analysis
Pensions lawyers call on government to resolve s37 uncertainty
DB pension schemes have been left in legal limbo in relation to section 37 confirmations, with the High Court expected to take several months to produce its latest judgement.
Innovation needed to stop illiquid assets delaying bulk annuities
Consultancy giant Aon has written to insurers calling for more innovation on tackling illiquid assets held by pension schemes approaching the bulk annuity market.
Outlook 2025: New insurers set to make waves in busy DB market
From an evolving bulk annuity market to debates over the use of pension scheme surpluses, next year looks set to be as busy as ever for the defined benefit sector, writes Alex Janiaud.
Changing course: The case for reinvesting pension scheme surpluses
Ahead of chancellor Rachel Reeves’ Mansion House speech on Thursday, Pensions Expert explores changing attitudes towards defined benefit scheme surpluses and how they could be used to benefit members, employers and the wider economy.
How LDI managers are getting ready for the rest of 2024
Following recent warnings about a potential return of deflation, the onus is on LDI managers to ensure their portfolios are prepared.
Pensions lawyers call on government to resolve s37 uncertainty
Innovation needed to stop illiquid assets delaying bulk annuities
Outlook 2025: New insurers set to make waves in busy DB market
Changing course: The case for reinvesting pension scheme surpluses
How LDI managers are getting ready for the rest of 2024
More defined benefit news
Cheviot revamps operational and investment models to boost master trust offering
The master trust provider has struck new partnerships with Spence & Partners and Van Lanschot Kempen as it seeks to modernise its services to defined benefit and defined contribution clients.
Surplus plans welcomed by trustees but concern raised over ‘deadlock’ cases
The Association of Member Nominated Trustees has welcomed the government’s planned approach to surplus extraction rules that will place trustees at the centre of decision-making.
Trustees to be given full discretion over DB scheme surplus release
Defined benefit pension schemes will be able to release surplus if they are overfunded on a low dependency basis, under proposals outlined by the government this week.
How DB superfunds can help remove ‘regulatory straitjackets’ from pension schemes
A report from New Capital Consensus argues for greater consolidation of DB pension schemes to support investment in productive finance.
Comment & opinion
Virgin Media v NTL Pension Trustees: where are we now?
Has TPR woken up to university pension issues?
DB surplus release: Three key questions to drive better outcomes
Financial distress: When a trustee’s role steps up a gear
More work needed on PPF levy: Railpen