All Defined benefit articles – Page 111
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News
Deferral of DB contributions ‘may be appropriate’
On the go: New guidance for defined benefit trustees accepts that some employers may need to delay deficit repair contributions due to economic disruption caused by the Covid-19 outbreak, but urges schemes to test employer claims carefully.
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News
BoE’s return to QE adds to DB woes
On the go: The Bank of England has cut its base rate to a historic low of 0.1 per cent, while announcing plans to increase its balance sheet of bonds by £200bn.
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News
Govt backtracks over policy on Ssas consolidation
On the go: The Department for Work and Pensions has been forced to clarify that small self-administered schemes will not be included in its push for consolidation of subscale defined contribution arrangements, following industry backlash.
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News
ITV given six months to fund pension scheme
On the go: ITV has been given six months to fund the Box Clever pension scheme after it lost its eight-year legal challenge against the Pensions Regulator.
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News
New guidance for joint GMP rectification and equalisation
On the go: Pension schemes considering combining their guaranteed minimum pension rectification and equalisation projects can now follow new guidance published by the cross-industry GMP Equalisation Working Group.
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News
New all-party group to tackle pension scams
On the go: A cross-party group of MPs and Lords have united to better protect pension scam victims and develop a range of policies to prevent scammers from operating.
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News
Cheshire Pension Fund questions members on investments and ESG
The £5.8bn Cheshire Pension Fund is gauging the views of its members and participating employers on its investment strategy and environmental, social and governance policy.
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OpinionTrustees cannot afford to ignore trans discrimination issues
Transgender rights are moving up the political and social agenda as increasing numbers of people identify with a gender that is different to that at birth.
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News
Tax changes pose admin challenge for pension schemes
On the go: Pension specialists have welcomed the announced changes in pensions tax relief in this week’s Budget, but have pointed out that it brings an added administration challenge to schemes.
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News
Clara Pensions in talks with investors for new funding
On the go: Clara Pensions is seeking to raise between £200m and £300m from new investors, after a first fundraising in 2018.
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News
TPR alerts trustees for contingency planning amid Covid-19 fears
On the go: The Pensions Regulator has reminded trustees of the need for appropriate monitoring and contingency planning to be able to continue to run their schemes amid a coronavirus outbreak.
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News
Maps refuses to give public dashboard launch date
On the go: The chair of the Money and Pensions Service has declined to give a launch date for the public pensions dashboard, since there are too many variables to be considered at this time.
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News
USS likely to breach deficit trigger
The Universities Superannuation Scheme could breach funding triggers relating to the size of its deficit, as coronavirus continues to cause turmoil in markets.
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News
BoE adds to DB woes as stimulus struggles to ease covenant strain
On the go: The Bank of England's decision to slash its base interest rate to 0.25 from per cent 0.75 per cent will swell defined benefit liabilities, according to experts, who doubt the ability of monetary policy to ease covenant concerns but say Budget measures may offer some help.
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News
Budget 2020: AA taper thresholds hiked by £90k
On the go: Chancellor of the exchequer Rishi Sunak has unveiled plans to raise the point at which tapering of the annual allowance kicks in by £90,000 as of next month.
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News
RPI to drop 1% per year with proposed reform
The UK Statistics Authority is proposing to align the retail price index with the consumer price index including housing costs, which is expected to lower its annual rate by an average of 1 percentage point.
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News
Tesco to clear pension deficit with Thailand and Malaysia business sale
On the go: Tesco will be making a one-off £2.5bn pension contribution from the sale of its businesses in Thailand and Malaysia that is expected to eliminate the current scheme deficit.
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OpinionAuto-enrolment can help solve care crisis
Our ability to support our elderly reaches tipping point by 2029 unless the government takes decisive action now.
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News
DB deficits rise £50bn as coronavirus hits markets
On the go: The aggregate deficit of the 5,422 defined benefit schemes in the Pension Protection Fund 7800 Index rose by £49.9bn in February.
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OpinionWhat HMRC’s guidance means for GMP in 2020
Conducting guaranteed minimum pensions equalisation is like assembling flat-packed furniture: just when you think you’re getting there you realise you’re missing half the screws.