All Defined benefit articles – Page 161
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News
Regulator zeroes in on dividends
The Pensions Regulator has targeted employers who pay large dividends while underfunding defined benefit pension schemes in its latest annual funding statement, increasing the pressure on trustees to secure as much funding as possible.
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NewsTata and BSPS agree terms for PPF-plus deal
Trustees of the £15bn British Steel Pension Scheme have agreed the key commercial terms of a regulated apportionment arrangement with sponsor Tata Steel UK, which would see members offered modified benefits as part of a new scheme.
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FeaturesS&N dives into infra and absolute return funds
The Scottish & Newcastle Pension Plan has agreed to introduce a new allocation to infrastructure debt while increasing its absolute return exposure, as schemes seek steady returns and diversification.
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FeaturesJohn Lewis Partnership protects future with LDI
The John Lewis Partnership Trust has introduced a liability hedging programme increasing its hedge ratio to 60 per cent, in a move experts said would protect significant recent contributions.
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News
Industry divided over retrospective changes to pensions
Nearly half of pensions professionals and scheme representatives believe that retrospective changes to pensions promises should be allowed, according to a recent survey, suggesting growing concern over the level of defined benefit liabilities.
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NewsBlockchain and bitcoin: Trustees urged to adapt to change
Many are still unfamiliar with the concept of bitcoin and blockchain, but experts say the pensions industry must engage with technology and accept change to adapt to an increasingly digital world.
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Opinion
What the DB green paper might (not) change
Millions of savers across the UK rely on defined benefits to fund all or part of their retirement, but threats to member security, illustrated by a number of high profile cases over recent years, are rocking the boat.
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Opinion
What drives the appetite for smart beta among UK pension schemes?
What is drawing pension schemes to smart beta? Eric Shirbini from ERI Scientific Beta, Julien Barral from bfinance, Alan Pickering from Bestrustees, James Price from Willis Towers Watson and Paul Black from Capital Cranfield discuss transparency and trustee training.
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NewsNortel inches closer to PPF-plus as £5bn lockbox opened
The Nortel Networks UK Pension Plan is set to receive more than £1bn in assets from its insolvent sponsor Nortel in the coming months, after US and Canadian courts agreed to open a $7bn (£5.4bn) escrow ‘lockbox’.
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Opinion
Should trustees review their advisers more often?
Analysis: There are myriad tasks involved in running a pension scheme, so time is precious and efficiency is key. But when it comes to evaluating advice, how can trustees measure performance, and should they be reviewing their consultants more frequently?
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Features
Dyfed 97% funded but private schemes lag behind
The Dyfed Pension Fund is approaching solvency as an investment review is set to largely stick with the scheme’s equity-heavy asset allocation, making for a sharp contrast to the situation at many private sector schemes.
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FeaturesSuffolk scheme fills gaps with greenfield infra
The Suffolk Pension Fund has added to its alternatives allocation, including a commitment to illiquid credit and an investment in a greenfield infrastructure fund, as experts have highlighted the importance of good governance when investing in illiquids.
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OpinionHow has DB changed in 20 years?
From the blog: April 2017 saw the 20 anniversary of the introduction of scheme actuaries. I don’t expect there were many parties in celebration, but it made me think about how scheme actuaries, and defined benefit pensions, have changed over 20 years and what might happen next.
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News
DWP hopes contracted-out transfers will smooth BHS deal
The Department for Work and Pensions has published “urgent” regulations for struggling contracted-out schemes, in a bid to protect pensioners during deals such as the regulated apportionment arrangement of BHS.
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FeaturesVauxhall boosts LDI and DGFs in scheme overhaul
The Vauxhall pension plan has restructured its asset allocation by increasing exposure to liability-driven investments and diversified growth funds, as experts agree these are “sensible” steps to take.
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News
Nolan: Inflexible actuaries and trustees harm DB employers
Trustees and their actuaries must consider the impact of deficits and funding negotiations on struggling defined benefit sponsors, the president of the Society of Pension Professionals has warned.
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Features
JLT scheme deficit shows rate pain persists
The UK pension scheme of consultancy and insurance business JLT Group saw its IAS 19 deficit jump during 2016, as bond yields proved a leveller for schemes of all sponsor types.
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OpinionHow to address intergenerational unfairness in pensions
Employers and trustees must work together to create a fairer future for tomorrow’s pensioners, says Broadstone’s David Brooks.
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News
Government's s75 proposals are a 'missed opportunity'
Experts have welcomed the government’s recent consultation proposing a new deferred debt arrangement for employers in multi-employer pension schemes, but concerns over complexity of employer debt regulation remain.
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NewsTata could inject £520m into BSPS in RAA bid
Tata Steel has reportedly offered to contribute £520m to the British Steel Pension Scheme as part of a bid to reach a regulated apportionment arrangement with UK pension authorities.