All Defined benefit articles – Page 111
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News
Maps prioritises dashboards delivery
On the go: The Money and Pensions Service is increasing its focus on pensions dashboards as a way to deliver for customers, according to its new business plan.
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News
DB employers mandated to justify further payment holidays
Trustees of defined benefit pension schemes will have to report decisions to allow sponsors to skip or delay deficit payments to the Pensions Regulator from July, as the watchdog drew fire for not insisting on this transparency from the start of its Covid-19 easements.
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News
Covid-19 leads to unexpected interest in bridging pensions
On the go: The coronavirus pandemic has led to an increase in the number of defined benefit scheme members looking to bridging pensions, according to a report by Aon.
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News
Schemes to take a £5bn hit as analysts predict deflation
On the go: Pension schemes already suffering the funding implications of Covid-19 could be facing a further £5bn of pressure, as the prospect of deflation later in the year produces a “ratchet effect”, according to analysis by LCP.
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Regulator appoints 91 trustees during first quarter
On the go: The Pensions Regulator has appointed 91 trustees to ensure the proper administration of pension schemes between January and March, according to new data.
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News
No-deal Brexit could deny thousands lifeboat protection
As Covid-19 continues to wreak its devastation on the corporate landscape, dozens of pension schemes could fall into the Pension Protection Fund. However, a no-deal Brexit could scupper that option for up to one-fifth of distressed employers with an EU connection.
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News
Pandemics, climate change pose ‘systemic risks’ to actuarial work
On the go: Global pandemics and the threat of a climate catastrophe present dire risks to the quality of actuarial work, according to a new report by the Joint Forum on Actuarial Regulation.
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News
London boroughs add real assets income fund
On the go: The investment pool for London’s Local Government Pension Scheme partner funds has launched a new real assets fund aiming to steadily outstrip inflation, with seed money from the boroughs of Redbridge and Bexley.
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News
Industry bodies lobby government to change insolvency bill
Pensions industry bodies are lobbying the government to make changes to the Corporate Insolvency and Governance Bill, which unless revised will “inevitably lead to more pensioners not receiving their benefits in full and greater strain on the Pension Protection Fund”.
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OpinionInsolvency bill leaves huge questions on interactions with DB schemes
The most significant revision to UK insolvency law in 30 years leaves a litany of unanswered questions for defined benefit trustees and their regulators, according to Lincoln Pensions’ Dan Mindel and Luke Hartley.
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News
Charities suffer under the strain of DB scheme deficits
On the go: Three-quarters of charities have defined benefit schemes in deficit, adding extra strain to a sector already hit hard by coronavirus, according to a new report by Hymans Robertson.
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News
Regulator to issue rules for consolidators ‘in the coming weeks’
The Pensions Regulator is shortly to issue interim regulation covering commercial consolidators, Pensions Expert can reveal.
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Opinion
Putting flesh on the bones of the new NHS life assurance scheme
Royal London’s Moira Warner dives into the details of the government’s new solution to help the families of NHS staff who die from coronavirus.
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News
Sponsors facing perfect storm as furlough nears its end
Pension schemes and their sponsors face a potential perfect storm of costs as the furlough scheme reaches its endgame, with sponsors in some sectors of the economy facing acute pressure as government support dries up.
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News
Regulator repeats anti-scam warning after £5m lost to fraudsters
On the go: The Pensions Regulator has repeated its warning about scammers after a report revealed more than £5m has been lost to fraud since February.
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News
FCA writes to 7,700 steelworkers and bans contingent charging
On the go: The Financial Conduct Authority is to write directly to 7,700 former members of the British Steel Pension Scheme to invite them to revisit the advice they received, while going ahead with a ban on contingent charging for defined benefit transfers.
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News
Lockdown spikes fears of democratic deficit in LGPS
As the Covid-19 crisis unfolds, there could be a worrying governance and democratic deficit in some local authority pension schemes, with only 27 per cent of councils having virtual pension committee meetings.
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News
Brunel achieves carbon intensity reduction target
Brunel Pension Partnership has achieved its target of reducing the carbon intensity of its active portfolio by 7 per cent a year in time for the UN’s World Environment Day, but smaller schemes saddled with pooled products may lack the clout required to emulate them.
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NewsNissan proposes DB scheme closure as sponsor pressure mounts
Workers at Nissan’s manufacturing plant in Sunderland could be facing a cut to their benefits, with the carmaker proposing to close its defined benefit scheme, while experts said the Covid-19 pandemic could push more sponsors to follow suit.
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News
Trustees advised to focus on going concern in schemes’ accounts
On the go: Consideration of going concern in the preparation of pension scheme financial statements requires greater focus from trustees due to the coronavirus crisis, accountancy bodies have warned.