All Defined benefit articles – Page 115
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News
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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News
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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News
HMRC to issue GMP final ‘outdated’ data cuts in July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guaranteed minimum pension data cuts by the end of July, despite confirming that some of this information might be out of date and unreliable for use in rectifying incorrect payments.
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News
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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News
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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News
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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News
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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News
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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News
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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News
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.
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News
Regulator to issue new guidance on capital-backed endgame deals
The Pensions Regulator is to issue new guidance on defined benefit employers seeking to use third-party investors to back the cost of buyout, following the completion of a first-of-a-kind deal without the need for regulatory clearance last week.
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News
First 14 professional trustees become fully accredited
On the go: Some 14 professional trustees have become fully accredited under the Association of Professional Pension Trustees framework.
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News
New insolvency laws could impact healthy DB schemes
On the go: New insolvency laws introduced in parliament, designed to prevent companies being forced to file for bankruptcy due to the Covid-19 crisis, could cause new hurdles for defined benefit schemes, a law firm has warned.
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News
PPF beats 2022 target for online transactions
The Pension Protection Fund has shifted the majority of its member transactions occurring online, beating its target set for 2022, as the lifeboat adapts its services to cater for a large influx of members.
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News
High Court delivers another CPI setback
Employers seeking to switch their defined benefit pension schemes from the retail price index to the consumer price index have been dealt another blow, as the High Court yet again refused to establish a precedent.
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News
Old British Steel scheme trustees consider buyout
On the go: The trustees of the Old British Steel Pension Scheme are considering a buyout for its 31,000 members, due to a better-than-expected funding position achieved while in the assessment period at the Pension Protection Fund.
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Features
Widening spread on buyouts makes self-sufficiency harder to justify
Data crunch: An already booming market for pensions insurance has received a two-pronged boost from the coronavirus pandemic: the turmoil rippling through the economy is providing schemes with the best ever pricing for buy-in deals, just as the demand for shedding investment risk is at its greatest.
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OpinionIndustry must not be defeatist on dashboards
Paul McGlone’s last op-ed as president of the Society of Pension Professionals sees him make an impassioned plea not to abandon hope and impetus behind the dashboards project, a once-in-a-lifetime opportunity to solve the industry’s engagement problem.
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News
True scale of pension scams unknown, says PPI
On the go: The “true scale” of pension scams remains unknown, as only a minority are reported and data is not collected in comparable ways across the industry, the Pensions Policy Institute has warned.