All Defined benefit articles – Page 133
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OpinionThe end is nigh for DB pensions
The defined benefit pensions industry has reached a tipping point, writes Paul McGlone, president of the Society of Pension Professionals.
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OpinionGearing up for GMP equalisation
Sackers’ Joanna Smith sets out a helpful checklist for pension schemes to plan ahead of guaranteed minimum pension equalisation.
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NewsCritics rebuke Hancock's 'narrow' NHS pension consultation
The British Medical Association poured cold water on the government’s NHS pension consultation on Monday, criticising its proposal of '50:50' accrual as too narrow and calling for the annual and tapered allowance to be scrapped altogether.
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NewsMPS surplus share uplift would not be 'transformational', say trustees
Former miners campaigning for the government's 50/50 split of their pension fund’s surplus to be renegotiated have been told by their own trustees the impact of such a change could be underwhelming.
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News
3 in 4 companies happy to extend AE to self-employed and low-paid
On the go: Three quarters of businesses back the extension of auto-enrolment to include the self-employed and those earning less than £10,000 a year, but have a limited appetite for mandatory contribution increases, according to new research.
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News
ECPA: Covenant assessments must consider climate change
On the go: The Employer Covenant Practitioners Association has emphasised the need to consider potential implications of climate change on sponsors’ businesses as part of defined benefit covenant assessments.
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NewsArcadia CVAs challenged by US property group
Arcadia has received applications challenging two of its seven company voluntary arrangements, raising questions over the future of its pension schemes.
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News
Schemes urged to start work on progressing GMP equalisation
On the go: The GMP Equalisation Working Group has urged schemes to start work on progressing guaranteed minimum pensions equalisation and rectification.
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Features
TPR still unhappy with pensions admin at Barnet
The Pensions Regulator has issued a draft improvement notice to the London Borough of Barnet to tackle deficiencies in the pension fund’s administration processes and controls.
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News
PIC de-risking reaches £6bn in H1 with £40bn in pipeline
On the go: The Pension Insurance Corporation has completed nine de-risking transactions totalling £6bn in the first half of 2018, a record for the company with a pipeline of new business of more than £40bn.
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News
Supreme Court denies BT right to appeal in £2bn indexation battle
On the go: The Supreme Court has denied BT the opportunity to appeal against the Court of Appeal’s ruling preventing the company from downgrading the inflation protection given to some of its defined benefit members.
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News
APPT delays start of professional trustee accreditation system
On the go: The start of the new process for accrediting professional trustees has been delayed. Originally set to start in the summer of 2019, arrangements are now expected to be finalised later this year.
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News
DB funding position improves in June
On the go: The overall funding position of UK defined benefit schemes improved in June, figures released by the Pension Protection Fund on Tuesday showed.
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News
Minister tells schemes to quicken transfer pace with PASA guidelines
Ten weeks should be the maximum time limit for defined benefit transfers, said industry-wide guidelines published on Monday by the Pensions Administration Standards Association.
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News
£700m business premiums for Rothesay Life after H1 pension deals
On the go: In a trading update issued on July 5, insurer Rothesay Life said that in the first half of 2019 it assisted four pension schemes to de-risk their liabilities, resulting in new business premiums of £700m.
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News
PPF criticises industry's customer service after weathering tricky year
The Pension Protection Fund has revealed it is investing in technology to improve its customer service, as the lifeboat’s membership swelled in a year of record claims.
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Features
Sony and Michelin source IFAs to support member decision-making
The shadow of the British Steel Pension Scheme saga looms large over trustee decisions on defined benefit transfers, but there are signs lessons have been learned.
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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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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
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.