All Defined benefit articles – Page 154
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OpinionWhat could we expect from the regulators’ joint pension strategy?
How could the Financial Conduct Authority and the Pensions Regulator’s joint strategy improve pensions regulation? Aegon’s Kate Smith discusses the regulators’ current responsibilities and the benefits of the watchdogs working together on certain issues.
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FeaturesGo-Ahead pension scheme moves from RPI to CPI
Transport operator Go-Ahead has cut its pension liabilities by about £40m by changing the inflation measure used for its bus workers’ final salary scheme.
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News
TPR fires warning shot over dividend to DRC balance
Defined benefit trustees and sponsoring employers should act sooner rather than later to secure members' pensions, the Pensions Regulator has said in its latest annual funding statement, and warned against prioritising dividends.
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NewsTourist board employers block scheme valuation
The British Tourist Authority and VisitScotland have yet to sign off on their scheme’s 2015 valuation as they are looking to secure guarantees from the UK and Scottish governments, in what has been described as a “torturous” process.
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Features
Should we be worried about public sector pensions?
Analysis: A combination of weak economic growth, growing inflation and lofty discount rates may threaten unfunded public sector defined benefit schemes.
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OpinionHow comms can help close the gender savings gap
From the blog: With the gender pay gap sitting firmly in the spotlight, it is not surprising we are also seeing a flurry of discussions about why women save less, and what should be done about it.
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News
Ofwat queried on water companies' DB closure plans
Chair of the Work and Pensions Committee Frank Field has written to Ofwat, the utilities regulator, about proposals by United Utilities and Anglia Water to close their defined benefit schemes to future accrual while continuing to pay out large amounts to shareholders.
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News
Nortel reaches PPF-plus after nine years of 'scorched earth'
The UK Nortel Pension Scheme has retrieved enough assets from the insolvency of its communications giant parent to buy out benefits at a level above that guaranteed by the Pension Protection Fund.
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NewsParliamentary scheme elects alternative credit
The Parliamentary Contributory Pension Fund has introduced a new allocation to alternative credit to further diversify the scheme’s portfolio of return-seeking assets.
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News
CWU members vote for Royal Mail deal
The Communication Workers Union has announced that its members have overwhelmingly voted in favour of a deal with Royal Mail over pensions and pay.
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News
Industry welcomes FCA transfer advice rules
The Financial Conduct Authority has published new rules on pension transfer advice following its research that showed a high proportion of advice was not suitable. It is also seeking views on contingent charging among others. The industry has welcomed the additional clarity provided in this area.
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Features
Barnet switches DGFs for property and private equity
The £1.1bn London Borough of Barnet Pension Fund has resolved to cut its 20 per cent allocation to diversified growth funds managed by Schroders and Newton Investment Management.
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News
The Pension SuperFund: Benevolent disruptor or danger to members?
If assembling a star-studded team of executives is enough to get a radical new pensions proposition off the ground, Edi Truell might already have done enough to disrupt the UK defined benefit sector.
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News
BT agrees to replace DB with ‘hybrid' scheme
BT has announced the closure of its defined benefit scheme and has agreed to develop a ‘hybrid’ solution with the Communication Workers Union.
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News
PwC probed on Carillion fees and conflicts
MPs have grilled PwC partners on fees and the safeguards the accountancy firm put in place to prevent conflicts of interest arising from its various roles regarding collapsed contractor Carillion.
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OpinionSchemes need a clear strategy for managing longevity risk
Longevity rates in general have been rising, but there is evidence to suggest the pace of improvements has recently slowed. So what does this mean for trustees? John Dewey at Aviva Investors explains.
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News
UK sees launch of first superfund
The UK is seeing the launch of its first so-called superfund, designed to consolidate defined benefit schemes, with an initial £500m of capital subject to transaction approvals.
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News
Govt says it has learnt from BSPS saga
Lessons "can and will be" learnt from the British Steel Pension Scheme events, the government has said, but stands by the outcome involving a regulated apportionment arrangement and new pension scheme.
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News
BT sweetens DB closure with promise of 'hybrid' scheme
BT has announced the closure of its defined benefit scheme and agreed to work with the Communication Workers Union over a forthcoming ‘hybrid’ solution.
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OpinionPutting the USS closure debate into perspective
Amid all the debate over actuarial methodologies and affordability, Society of Pensions Professionals president Hugh Nolan says a quick look at contribution rates gives a valuable insight as to whether the public sector is getting a good deal.