All Defined benefit articles – Page 115
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News
UBS pension scheme enters into £1.4bn longevity hedge
On the go: The UBS (UK) Pension and Life Assurance Scheme has entered into a £1.4bn longevity hedge with Zurich Assurance, designed to protect the scheme against the risk of the 2,700 members covered living longer than expected.
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PodcastsPodcast: Pension schemes bill could have ‘unintended consequences’
Podcast: The pension schemes bill defines criminal offences so broadly that it could have “unintended consequences” for the running of pension schemes, potentially stifling legitimate corporate activity. Tiffany Tsang, Local Government Pension Scheme and defined benefit policy lead at the Pensions and Lifetime Savings Association, and Eversheds Sutherland partner Jeremy Goodwin both agree that more clarity is needed, in an episode also covering fallout from the passage of the insolvency bill, the launch of the Make My Money Matter campaign, and a 16th century pension scheme bailout.
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News
Volunteer schemes and providers to test pensions dashboards
On the go: The Pensions Dashboards Programme is planning to start extensive testing with individuals, dashboard providers, and volunteer pension providers and schemes, after it publishes a first version of the pensions dashboards data standards this autumn.
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OpinionLords’ open DB protections don't stack up
Editor's blog: Are we to see the decline of defined benefit put on hold? That is the vision of amendments to the pension schemes bill moved at the end of June by the House of Lords.
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News
LGPS funds join forces to fund 'co-living' ventures
On the go: The Merseyside Pension Fund has allocated to a fund investing in co-living spaces, joining institutional investors including the Strathclyde Pension Fund.
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News
Formal superfunds authorisation could take 5 years
The Pensions Regulator anticipates that it could take five years for the government to put in place a statutory authorisation framework to oversee defined benefit superfunds, as it looks ahead to publishing specific guidance for trustees considering a transfer to the new vehicles.
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News
Pensions sector suffers more than one data breach every week
The UK pensions sector suffers more than one data breach every week on average, new figures reveal, with some of the industry’s biggest names failing to protect savers’ sensitive information.
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News
Lockdown sees third of savers taking action on pensions
Data crunch: Seven million people, representing more than a third of savers, have taken action relating to their pensions during the coronavirus lockdown, with almost one in three reviewing their spending habits more often, according to analysis by Aviva.
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OpinionHow fiduciary management performance should really be assessed
Trying to draw inferences about fiduciary managers by comparing their growth funds grossly misses the point – to outperform liabilities – of these mandates, argues IC Select’s Anne-Marie Gillon.
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News
Lords commit TPR to preserving open DB schemes
The House of Lords has amended the pension schemes bill to ensure that open defined benefit schemes are not forced to derisk their investments in the same way as closed plans, in one of four defeats suffered by the government.
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News
One in five schemes considering superfunds
On the go: The Pensions Regulator’s interim guidance for consolidators has sparked a surge of interest by pension schemes, with one in five considering superfunds as an option for their endgame, according to a survey by Willis Towers Watson.
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News
Willis Pension Scheme enters £1bn longevity swap
On the go: The Willis Pension Scheme has entered into a £1bn longevity swap with Munich Re, covering around 3,500 members.
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NewsData poses difficulties to Surrey admin outsourcers
A London borough branch of the Local Government Pension Scheme is to bring its administration back in-house from 2021, as current outsourced provider Surrey County Council continues to struggle with legacy data issues across its client base.
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News
Government plans to push ahead with small scheme consolidation
On the go: The government looks set to press ahead with plans to encourage small schemes to consolidate, according to analysis of consultation documents by LCP.
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News
Pension superfunds could hinder insurers’ businesses
On the go: UK pension superfunds could encroach on life insurers’ bulk purchase annuity market, as the new consolidation vehicles may present employers with a more affordable alternative, according to Fitch Ratings.
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News
Peers push for restriction on commercial dashboards
On the go: Labour peers are pushing for an amendment to the pension schemes bill that will see a 12-month restriction placed on providers looking to operate their own pensions dashboards.
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News
Widespread industry support for regulator’s Covid-19 response
On the go: Industry professionals are “overwhelmingly positive” about the Pensions Regulator’s response to Covid-19, though they remain pessimistic about future prospects, according to a report from the Pensions Management Institute.
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News
Regulator to focus on protecting savers amid Covid-19
On the go: The Pensions Regulator has said it will prioritise protecting savers during the coronavirus pandemic, as well as supporting schemes to continue to deliver benefits.
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News
Insolvency bill retains potential to damage DB schemes
Government attempts to mitigate the risk its new insolvency legislation poses to defined benefit pension schemes have only been partly successful, and company moratoriums could still see schemes lose out on valuable contributions, experts have said.
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News
Work and pensions committee urged to open inquiry into scams
On the go: The head of a transparency pressure group has written to the chair of the work and pensions committee to request it opens an inquiry into the scope and extent of pension scams.