All Defined benefit articles – Page 112
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News
Suffolk holds firm through equity volatility storm
Suffolk Pension Fund has reported a bounceback in its asset values after taking a £327m hit in the first quarter of the year, as experts said it is still legitimate for immature defined benefit schemes to lean on the equity risk premium.
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Medical scheme completes £10m buyout with Aviva
On the go: The Unomedical Pension Plan has entered a £10m buyout with Aviva, which shows ongoing appetite from insurers to write smaller contracts.
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Railways scheme among DB backers in biomass plant acquisition
On the go: The Railways Pension Scheme is among the defined benefit pension schemes behind the takeover of Sleaford Renewable Energy Plant in Lincolnshire, led by private equity company Greencoat Capital.
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News
Morrisons’ shareholders advised to vote against pension payout
On the go: Morrisons’ shareholders have been advised to vote against executive pension payouts, as they are not aligned with the majority of the retailer’s workforce.
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NewsUSS divests from coal, tobacco and weapons manufacturers
The UK’s largest pension scheme has announced it is to divest from selected coal, tobacco and weapons manufacturers, following years of campaigning by members and activist groups.
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Poor Q1 returns catch up on risky fiduciary managers
Fiduciary managers with heavily equity-based portfolios suffered the heaviest losses in the first quarter of 2020, as the wide variation in strategies continues to provoke discussion about the right level of growth portfolio diversification.
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LGPS has £2bn invested in alleged ‘illegal Israeli settlement’ companies
Thirty-three Local Government Pension Scheme funds retain investments worth more than £2bn in arms manufacturers and in companies accused of supporting illegal Israeli settlements, as some of these schemes opt for engagement instead of divestment.
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News
Carlsberg DB scheme to be absorbed into newly formed brewery
On the go: Carlsberg will remain the sole sponsor of its UK defined benefit pension scheme after it is absorbed into a joint venture with fellow beer producer Marston’s.
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Small scheme bulk annuity deals set for surge in demand
On the go: The number of small scheme buy-ins and buyouts could increase by 25 per cent in 2020, according to research from LCP.
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Firefighters considering pension compensation claims
On the go: The Fire Brigades Union is looking at potential compensation claims for its members in public sector pension schemes who were victims of age discrimination.
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Banking association scheme signs £95m buy-in
On the go: The defined benefit scheme of the British Bankers’ Association has entered into a £95m buy-in agreement with insurer Aviva, covering 213 members’ benefits.
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HMRC to issue GMP final ‘outdated’ data cuts in July
HM Revenue & Customs plans to provide defined benefit schemes with final guaranteed minimum pension data cuts by the end of July, despite confirming that some of this information might be out of date and unreliable for use in rectifying incorrect payments.
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DB transfer market shows signs of recovery
On the go: The defined benefit transfer market is showing signs of recovery and is expected to grow further in the coming months, after a sharp decline in inquiries due to the Covid-19 crisis.
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Pension bodies join forces to address Covid-19 concerns
On the go: Seven UK regulators and authorities have teamed up to create a guide to address savers’ most common pension concerns throughout the coronavirus crisis.
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3i buys in £650m across pensioners and deferreds
On the go: Private equity and infrastructure group 3i has announced a £650m buy-in with Legal & General.
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John Lewis agrees six-year DB deficit payment plan
On the go: John Lewis Partnership and the trustees of its pension scheme have agreed to a six-year deficit recovery plan.
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LGPS prepared for lower investment return in 2020
On the go: While the Local Government Pension Scheme had a return of 6.2 per cent in 2019, its advisory board is monitoring the current market turmoil closely and is prepared for a downturn in 2020.
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Millions fall for pension scams amid coronavirus crisis
On the go: One in five victims of a financial scam during the coronavirus pandemic were targeted by pension fraudsters amid warnings of “low-life” scammers preying on the vulnerable
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OpinionDo asset-backed funding structures need an update?
It has now been more than a decade since Marks and Spencer implemented the first asset-backed funding structure, and some of the industry’s pioneering arrangements are showing their age, according to CMS’s Alex Nicklin and Rizwan Rahman.
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PPF: DWP is ‘key’ for Bauer solution
On the go: The Pension Protection Fund hopes to use Department for Work and Pensions data to help it implement tricky increases required by the landmark Bauer judgment, according to Sara Protheroe, chief customer officer at the PPF.