All Defined benefit articles – Page 152
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News
Small schemes making most of accessible LDI solutions
The total value of liabilities hedged by liability-driven investment strategies increased to £965bn over 2017, as smaller schemes continued to take advantage of more accessible and affordable LDI solutions.
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Features
How can pension schemes support banks?
Analysis: Around 30 banks have entered into bank capital relief transactions with institutional investors, according to consultancy Aon, with the size of the market estimated at about £20bn, and continuing to grow rapidly.
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News
BA wins appeal over discretionary increase
The trustees of the Airways Pension Scheme went beyond their remit in granting a 0.2 per cent discretionary increase to members’ pensions in 2013, the Court of Appeal has ruled.
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FeaturesBarnet pension scheme votes to join the LAPFF
The London Borough of Barnet Pension Fund has voted to join the Local Authority Pension Fund Forum, with the pension fund committee rejecting mayor of London Sadiq Khan’s manifesto push to bring London local authority pension schemes out of fossil fuel investment.
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News
Record corporate debts – a covenant warning signal?
UK companies’ net debts hit record highs over 2017/18, a new study has found, prompting concerns about how some sponsors of the UK’s defined benefit pension schemes will weather a turn in the interest rate cycle.
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News
PA Consulting completes full buyout with PIC
On the go: Pension Insurance Corporation has concluded a full buyout of all members of the PA Pension Scheme, covering £850m of liabilities and approximately 2,400 members.
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News
Scapa sets up joint trustee working group
Adhesive tape manufacturer Scapa has set up a joint working group with the trustees of its pension scheme as it looks to derisk its defined benefit scheme further.
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News
DWP proposes power for regulator to impose civil fines of up to £1m
The Department for Work and Pensions has proposed granting the Pensions Regulator the ability to fine employers and associated parties up to £1m where they are found guilty of serious breaches and reckless behaviour.
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News
Warned scam victims must take responsibility, code says
The Pension Scams Industry Group has emphasised that scam victims must take responsibility for fraudulent defined benefit transfers where they have been previously warned by their providers.
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OpinionAre consolidation vehicles the future for DB schemes?
Companies offering a cheaper alternative to buyout have unions and others concerned about letting defined benefit employers off the hook via regulatory arbitrage, writes CMS’s Caroline Kurup, but consolidators remain attractive where insurance remains the end point for scheme liabilities.
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News
Trustees warned to be vigilant before approving superfund deals
Trustees eyeing a transfer into one of the UK’s nascent superfunds must consider the viability of the acquiring consolidation vehicle before consenting to a ‘buyout-lite’ deal, the Pensions Regulator’s executive director of frontline regulation has warned.
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FeaturesNilgosc makes inroads into infrastructure funds
The Northern Ireland Local Government Officers’ Superannuation Committee has pledged millions in infrastructure investment in the past 12 months, and is now turning to review opportunities in absolute return bonds and multi-asset credit.
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News
Industry calls for regulatory speed and stronger approach to scams
The pensions industry has voiced concerns over regulatory weaknesses and a lack of urgency when tackling scams and regulating defined benefit to defined contribution transfers.
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News
Less than a third of trustees think TPR will monitor fairly
Just 31 per cent of trustees are confident the Pensions Regulator will police funding agreements fairly and effectively in future, according to a survey by consultancy Willis Towers Watson.
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News
Government sets out proposals for trustee ESG investment duties
Trustees will be expected to publish a statement on how they take account of scheme members’ ethical views, if proposed requirements floated in a government consultation are implemented.
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News
SNP bill seeks PPF support for orphan liabilities
A private members’ bill submitted by Scottish National Party MP Alan Brown last week could see the Pension Protection Fund taking on so-called orphan liabilities from multi-employer pension schemes.
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News
Regulator sees merit in criminal sanctions for DB sponsors
The Pensions Regulator is prepared to deploy tough new powers promised by the Department for Work and Pensions’ defined benefit white paper, although it admitted that there will be a high bar for beginning any criminal proceedings against sponsoring employers.
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News
Industry backs alternative to mandatory clearance
Requiring companies to prepare a formal statement on how corporate activity might affect their pension schemes could help protect members from being put at risk, a survey of restructuring professionals has suggested.
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FeaturesElectrocomponents scheme invests in bespoke pooled fund
The UK defined benefit scheme of FTSE 250 distributor Electrocomponents has moved much of its fixed income exposure into a qualifying investor alternative investment fund.
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News
Pensioners underspending and bequeathing most wealth on death
Many older people are underspending in retirement, and are set to bequeath the majority of their wealth to younger generations instead, according to research by the Institute for Fiscal Studies.