All Defined benefit articles
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NewsMirror 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.
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NewsThree 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.
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NewsRoyal 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.
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NewsRelief 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.
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FeaturesThe pensions industry reacts to the ‘blockbuster’ Pension Schemes Bill
Pensions Expert rounds up views from experts across the industry as the government introduces its much-anticipated Pension Schemes Bill to parliament.
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News‘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.
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NewsTrustees 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.
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NewsTPR signs off on release of ‘trapped’ surplus in Littlewoods Pension Scheme
The regulator has permitted Littlewoods’ trustees to release surplus back to the sponsoring employer - only the second time it has allowed changes to scheme rules in this way.
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NewsConsolidator in waiting? Government taking its time to assess extension of PPF remit
The government will not legislate for a new consolidator for DB pension schemes in the upcoming Pension Schemes Bill, but is still exploring the potential for the Pension Protection Fund to take on the role in future.
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NewsCheviot 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.
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NewsSurplus 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.
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NewsTrustees 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.
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NewsMorrisons purchases £270m buy-in from Aviva
The insurance company has secured the RSP Section of the Morrisons Retirement Saver Plan, covering 32,000 members of a cash balance plan.
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OpinionVirgin Media v NTL Pension Trustees: where are we now?
There are an estimated 50,000 amendments that need to be reviewed following the Virgin Media ruling. Matthew Swynnerton of the Society of Pension Professionals explores how trustees can approach this unenviable task.
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NewsHow 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.
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NewsBell confirms surplus release plans will feature in Pension Schemes Bill
The government has confirmed plans to free up billions of pounds from defined benefit (DB) surpluses, with legislation to be introduced through the Pension Schemes Bill. In an announcement today (21 May), the government cited figures from the Pensions Regulator and the Pension Protection Fund (PPF) indicating record levels of ...
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FeaturesMaking sense of the ‘crammed’ legislative agenda for pensions
With the Pension Schemes Bill due to be laid before parliament in the coming weeks, consultancy group LCP has attempted to make sense of the wave of new rules and regulations expected to be introduced.
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NewsTelecoms firm dials up member security with £63m buy-in
CommScope Connectivity, a telecoms company, has insured its defined benefit pension scheme with Aviva for £63m, covering 570 members.
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NewsCancer Research UK completes £280m buy-in with Standard Life
Cancer Research UK has insured around 2,800 members of its defined benefit pension scheme through a bulk annuity deal, which covers more than half of its liabilities.
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NewsIlliquid asset sales platform launches to aid schemes heading for buyout
MeltX is gearing up for its inaugural auction of illiquid assets as it seeks to help defined benefit pension schemes generate liquidity and prepare for bulk annuity transactions.