All Defined benefit articles – Page 160
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News
Prospect: Govt must uphold promise to electricity workers
A group of Carillion electricity workers may become a key test case for pension protections, according to union Prospect.
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Features
Leicestershire fund boosts death benefit security for children
Leicestershire County Council Pension Fund has introduced additional requirements for legal guardians responsible for children’s pensions and death grants, where the guardian’s nomination has been the subject of dispute.
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News
Box Clever trustees under scrutiny for scheme setup decisions
The trustees of failed TV rental business Box Clever’s defined benefit pension scheme have come under scrutiny for their decisions involving the fund’s setup, as part of an Upper Tribunal hearing on the company’s collapse.
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News
Committees question Santander, FSB and Carillion shareholders
Both the Work and Pensions Committee and Business, Energy and Industrial Strategy Committee have written to the Federation of Small Businesses, HM Revenue & Customs and major shareholders in Carillion to try to get a better idea of operations at the construction outsourcing company.
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NewsGovt defeated on 'discriminatory' changes for firefighters and judges
The Employment Appeal Tribunal is returning the firefighters’ discrimination case to the Employment Tribunal and has dismissed the government’s appeal over a similar case in relation to a group of judges.
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NewsMPs accuse Carillion of trying to 'wriggle out' of pension obligations
The Work and Pensions Committee has accused Carillion of trying to “wriggle out” of its pension obligations for the past decade, amid calls for stronger laws to prevent future scandals.
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News
ITV case: Regulator argues for retrospective moral hazard powers
The leveraging up of TV rental company Box Clever put members’ pensions at risk while extracting maximum value for its shareholders, a landmark Upper Tribunal case about the Pensions Regulator’s powers has heard.
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FeaturesRobo-trustees: Would you welcome one on your board?
Any other business: For those feeling uneasy about the idea of sitting next to a Star Wars-style droid at a quarterly meeting, you can rest assured we are not likely to witness the rise of the robo-trustee anytime soon.
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News
British Steel scheme consultation closes
The British Steel Pension Scheme has closed its 'Time to Choose' consultation, with the scheme receiving responses from 97,000 of its 122,000 members.
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News
CWU and Royal Mail reach agreement
The Communication Workers’ Union has announced that it has agreed a deal with Royal Mail over pensions and pay.
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FeaturesSouth Yorks plumps for alts as equity concerns bite
The South Yorkshire Pension Fund is trimming its equity exposure and allocating to a range of alternatives, as part of a wide-ranging review that reaffirms the fund’s commitment to environmental, social and governance-based principles.
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OpinionCold call from a pensioner
Editorial: An elderly gentleman called me a few days ago at work. He was looking for someone who could help him access his pension pot.
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News
GMB union hits out over pension funding in water industry
Trade union GMB attacked Prime Minister Theresa May over her statement in the Observer that she would "fine greedy bosses who betray their workers".
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FeaturesShipbuilding scheme latest to invest in private debt
The Shipbuilding Industries Pension Scheme has made a £50m commitment to private debt, as investors increase their exposure to this asset class in the search for yield.
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News
UUK will 'consider reintroducing DB' after DC switch
Universities UK has put forward a proposal to change the pension benefits for academics to defined contribution from April 1 2019, but has committed "to consider in three years’ time if defined benefits can be reintroduced should the scheme’s funding conditions improve".
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News
Carillion directors called to joint inquiry
The Work and Pensions Committee and the Business, Energy and Industrial Strategy Committee are starting a joint inquiry into the collapse of Carillion, which has left thousands of employees and pension scheme members in limbo.
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FeaturesLincolnshire council fund encounters data difficulties
The £2.2bn Lincolnshire County Council Pension Fund has had ‘amber’ reviews over administration and training.
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News
Academics back strike action over USS DB closure proposal
Staff strikes are set to cause significant disruption across 61 of the UK's universities in February, after union members voted to take industrial action over changes to their pension provision.
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NewsBT scheme to keep RPI amid bigger changes
The High Court has ruled in favour of the BT pension scheme trustees and denied BT the right to change the measure by which increases for its Section C scheme are calculated, but BT has said it is considering an appeal.
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News
Consultants commit to flagging ESG factors
Sixteen investment consultancy firms have said that they will seek to ensure that pension schemes take into account environmental, social and governance factors where they are financially material.