All Defined benefit articles – Page 126
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News
Superfunds left out of ‘quickie’ pensions bill
On the go: A radically stripped down pensions bill could appear later this month, according to the shadow pensions minister, as politicians try to squeeze in legislation before the uncertainty of Brexit and a new government kicks in.
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News
FTSE 350 pension deficit falls by £9bn in June
On the go: The pension deficit for the UK’s 350 largest listed companies fell by £9bn to £48bn by the end of June from £57bn at the end of May, the most significant monthly improvement in funding levels since November 2018, according to Mercer.
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News
Pension changes could result in £260bn accounting gap, says XPS
On the go: UK companies could be understating their pension liabilities by as much as £260bn, according to XPS Pensions.
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OpinionDRCs have little or no measurable impact on regular dividends
In the past 20 years or so, most private-sector defined benefit pension schemes have been closed or frozen.
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News
Clara Pensions first consolidator to join PASA
On the go: Clara Pensions became the first consolidator to join the Pensions Administration Standards Association on Wednesday, boosting its legitimacy before the announcement of its first client.
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News
Smiths Industries completes £176m bulk annuity transaction
On the go: The £3bn Smiths Industries Pension Scheme has completed a £176m bulk annuity with Canada Life – its second transaction of this kind with the insurer.
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FeaturesUS industrial giant completes sectionalised merger of UK schemes
US conglomerate Honeywell has gone ahead with proposals to merge three of its UK defined benefit schemes on a sectionalised basis, in a bid to lower costs and streamline governance.
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News
Rumours of buyout for British Steel scheme
On the go: Trustees of the British Steel Pension Scheme are mulling a full buyout of the rescued scheme, according to reports from Sky News.
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News
DB continues to mature as 73% cash flow negative
On the go: Almost three out of every four defined benefit schemes in the UK are now cash flow negative, according to consultancy Mercer’s 2019 asset allocation survey.
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NewsUCU threaten autumn strikes after USS whistleblowing
The University and College Union has outlined a timetable for industrial action at UK universities later this year, demanding concrete action from employers to improve pay and secure pensions.
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PodcastsPodcast: Putting a stop to unsuitable defined benefit transfer advice
Podcast: The Financial Conduct Authority recently expressed concern that too much of the defined benefit transfer advice it has seen to date is still not of an acceptable standard. In this podcast, Tom Selby, senior analyst at AJ Bell, and Bob Scott, senior partner at LCP, talk about the impact of increased regulatory scrutiny of transfer advice, the need for DB flexibility, and how schemes and employers can help members by appointing a dedicated independent financial adviser to their scheme.
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News
Regulator keeping 'careful eye' on watch list of 50 schemes
The Pensions Regulator has a watch list of 50 defined benefit schemes that it is most concerned about, the watchdog’s chief executive, Charles Counsell, has revealed.
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News
Trinity rocked by fellow resignations
Three academic fellows resigned from Trinity College Cambridge on Monday, protesting the college’s decision to exit the Universities Superannuation Scheme.
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News
PIC hails record reinsurance availability
On the go: Bulk annuity provider Pension Insurance Corporation has secured a record-breaking £7bn of reinsurance to date in 2019.
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NewsTrinity fellows go ahead with plans to leave USS despite UCU censure
A special meeting of fellows at the University of Cambridge’s Trinity College has supported the decision to leave the Universities Superannuation Scheme, despite the threat of censure from a trade union.
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News
Pension scheme membership rises to record 45.6m
On the go: Total membership of occupational pension schemes in the UK reached 45.6m in 2018, up from 41.1m in 2017, according to new Office for National Statistics data.
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News
FCA plans to ramp up supervision of transfer advice market
On the go: The Financial Conduct Authority intends to ramp up its supervision of the most active firms in the transfer advice market, after finding that 69 per cent of people seeking advice had been recommended to transfer between 2015 and 2018.
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News
75% of DB funds paying out more money than they receive, finds Buck
On the go: Three-quarters of defined benefit schemes are now cash flow negative with contributions no longer sufficient to meet regular benefit payments, according to Buck.
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News
Unions allege govt sidestepped advice on NHS pensions
On the go: The Department for Health and Social Care is under fire for reportedly deciding to pursue its ‘50:50’ reform for NHS Pensions before it had received a report commissioned from its advisory board.
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News
More schemes offering member concessions on DB closure
The number of defined benefit funds undertaking benefit reviews has soared since 2014, recent research has revealed, prompting yet more scheme closures amid a growing tendency to offer member concessions.