All Defined benefit articles – Page 119
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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.
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News
Covid-19 unlikely to affect long-term mortality rates
On the go: The coronavirus pandemic is likely to have a very muted impact on the pensions sector, according to a new report emphasising that a reasonable proportion of Covid-19 deaths would have occurred this year anyway.
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News
Music charity leaves Teachers’ scheme to offer benefits symphony
A hike in employer pension contributions has prompted a Birmingham-based charity to leave the Teachers’ Pension Scheme, using the savings from that decision to extend its benefits offering.
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News
‘Rule-taking’ TPR unable to further ease LGPS cash flow issues
On the go: The Pensions Regulator has cautioned local authority defined benefit schemes that it does not have the power to waive responsibilities such as collection of contributions, as some pension boards begin to worry about cash flows.
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News
Regulator rebuffs calls to abandon new DB code
On the go: The Pensions Regulator has dismissed calls from industry to halt its work on a new defined benefit funding code, arguing that the affordability principle it espouses is “even more important and relevant in the light of Covid-19”.
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NewsBritish Airways resumes pension transfer activities
British Airways is to resume its pension transfer activities following a short suspension due to the impact of the coronavirus crisis, Pensions Expert can reveal.
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News
PPF creates panel to support trustees with stressed sponsors
On the go: The Pension Protection Fund has established a new panel to support trustees where the scheme’s employer is in stressed or distressed circumstances.
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NewsDWP steps in at Lloyds’ GMP past transfers hearing
Government lawyers have dealt a blow to trustees hoping not to have to apply guaranteed minimum pension equalisation to past transfers, branding the argument from Lloyds Banking Group in a high-profile court case “misconceived”.
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News
Unfunded public pensions to take £150bn hit from Covid-19
Overinflated estimates of UK economic performance could strain the affordability of unfunded public sector pensions, according to new estimates, with the government forced to weigh the continued security of public sector workers’ retirement against a £150bn tax burden on future generations.
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News
Investment-grade back in favour with DB schemes
On the go: An illiquidity premium has appeared in long-dated investment grade bonds, according to consultancy Aon, which has urged clients to take advantage of coronavirus volatility to turbo-charge their matching allocations.