All Defined benefit articles – Page 109
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News
Charity participants in LGPS face going concern issues
An Institute of Chartered Accountants of Scotland report laying out guidance for charity trustees on going concern has prompted a second look at their participation in the Local Government Pension Scheme, with experts warning that many could face crippling debt payments as they run out of members.
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2020 risk settlement market could hit £50bn
On the go: Despite the turmoil caused by coronavirus and the government’s lockdown policy, 2020 could still be a record-setting year for the risk settlement market, with final volumes reaching or even exceeding £50bn, according to estimates from Aon.
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News
Housing associations could face significant contribution hikes
On the go: The upcoming Social Housing Pension Scheme valuation could reveal a deficit of £1.5bn, almost £500m higher than expected following the last valuation in 2017, according to a report from LCP.
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OpinionMcCloud remedy: Are some public servants more equal than others?
The solution proposed by the government for the McCloud age discrimination case ticks all the key fairness boxes, even though all members will not be treated the same, explains Royal London’s senior intermediary development and technical manager, Moira Warner.
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OpinionBuy-and-maintain credit poised to take centre stage
Data crunch: As the UK’s private defined benefit schemes mature and turn increasingly cash flow negative, their focus is shifting beyond funding ratio stability to adopting income-generating investments that help meet pension payments.
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News
CDC pensions ‘would be 70% higher’ than traditional DC
On the go: A new guide published by Willis Towers Watson estimates that collective defined contribution pensions would be on average 70 per cent higher than traditional defined contribution, and 40 per cent higher than typical defined benefit schemes.
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News
LGPS wades into Israel-Palestine row with UN blacklist engagements
At least two Local Government Pension Scheme funds are undertaking engagements with companies linked to contested Israeli settlements, Pensions Expert can reveal.
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TPR warns trustees ‘can’t duck’ from climate change
On the go: As new reporting requirements on environmental, social and governance considerations come into force, the Pensions Regulator has warned trustees to build capacity in this area as climate change is a fundamental consideration for schemes.
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News
Over-50s alter retirement plans in response to Covid-19
On the go: One in eight older workers have changed their retirement plans due to the coronavirus, according to the Institute for Fiscal Studies, which warned that a third are now in a worse financial situation than they were in before.
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News
Aon warns USS consultation could confuse employers
Aon has warned that the consultation document presented by the trustee of the Universities Superannuation Scheme will be of only limited use to employers, and may leave some unable to make vital decisions.
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News
PPF sets levy at £520m for 2021-22
On the go: The Pension Protection Fund has set its levy at £520m for 2021-22, which is £100m lower than the previous year.
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News
Should ‘too-big-to-fail’ schemes be nationalised?
Analysis: The current pandemic-led economic crisis, coupled with the fact that some of the biggest defined benefit schemes are sponsored by quasi-governmental institutions, has led to suggestions that the UK government should nationalise these pension funds.
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News
TPR investigates DRC holiday abuse
On the go: The Pensions Regulator is investigating a number of companies’ pension schemes for allegedly taking advantage of a relaxation in the deficit repayment contribution rules due to the pandemic.
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OpinionPrivate sector consolidators can learn from LGPS pooling
The Pensions Regulator has given the green light for the establishment of the first private superfunds, but the consolidation of multiple pension schemes is not a simple task. Local Pensions Partnership chief executive Chris Rule explores some lessons of pooling.
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OpinionNot-for-profit sector schemes should consider more specialist approach
Buck’s Vishal Makkar on how the not-for-profit sector’s idiosyncrasies demand a specialist approach to pension funding and investment.
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News
Smiths Group completes £142m buy-in with Aviva
On the go: Smiths Group, an industrial technology company, has completed a £142m buy-in transaction with Aviva for the TI Group Pension Scheme.
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News
Cheshire in the vanguard on TCFD carbon revelations
The Cheshire Pension Fund is one of the first UK pension funds to report on the carbon footprint of its £6.1bn investment portfolio, estimating that its stock portfolio’s carbon intensity is a third less than the benchmark.
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News
Border to Coast appoints multi-asset credit managers
On the go: Border to Coast Pensions Partnership has appointed four specialist managers for its multi-asset credit fund, which will have assets worth £2.7bn.
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PodcastsPodcast: Arguments for DC consolidation stronger than for DB
Podcast: The pace of defined contribution consolidation could accelerate on the other side of the coronavirus pandemic, but mergers are a less obvious boon for define benefit, say Squire Patton Boggs partner Kirsty Bartlett and Hadassah Shulman, senior associate at Taylor Wessing.
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News
Govt consults on auto-enrolment tests for DB and hybrid schemes
On the go: The Department for Work and Pensions is questioning whether the current alternative tests used by defined benefit and hybrid schemes for auto-enrolment suitability are fit for purpose.