All Defined benefit articles – Page 162
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FeaturesJLR meets members halfway with Care switch
Jaguar Land Rover is switching its defined benefit schemes from final salary to a career average revalued earnings structure, as companies look to cut costs and manage risk while keeping employees on board.
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OpinionNot the end of the world
Editorial: It is never nice to see more money leave your wallet than comes in.
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News
FAMR makes headway but experts say further progress is needed
The Financial Conduct Authority has published a progress report on its Financial Advice Market Review, alongside a consultation that sets out proposed guidance, but reactions in the pensions industry show there is still a long way to go.
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NewsNo changes to Johnston Press equalisation despite missing documents
A legal dispute involving trustees of the Johnston Press Pension Plan about the equalisation of retirement ages has been put to bed by the Scottish Court of Session, using a quirk of law known as the “presumption of regularity”.
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NewsBromley tilts towards income as outflows bite
Faced with a projected cash outflow of nearly £5m in 2016-17, the London Borough of Bromley pension fund is trying to keep income up with a new investment strategy.
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FeaturesLeonardo scheme ups hedge after Care switch
The Leonardo Electronics Pension Scheme has adapted its liability hedging strategy to reflect the career salary benefit changes implemented last year to reduce risk and costs.
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FeaturesPost Office surplus raises union affordability complaints
The Post Office section of the Royal Mail Pension Plan remains in surplus, its latest funding update shows, just weeks after it was closed to future accrual amid union consternation.
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OpinionData crunch: The DB market is growing fast
Defined benefit will continue to form the bedrock of pensions assets in the market for some time, explains Magnus Spence from Spence Johnson.
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OpinionDB Pensions: If it ain’t broke, don’t fix it
Defined benefit is not facing systemic failure, but there are still areas where it could improve, argues Hugh Nolan from the Society of Pension Professionals.
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FeaturesInvensys attempts to reconcile GMPs delayed by HMRC
Slow responses from HM Revenue & Customs are delaying efforts by the Invensys Pension Scheme to reconcile guaranteed minimum pensions, the scheme’s trustees have told members.
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Features
John Menzies signs MoU ahead of sectionalisation
A memorandum of understanding has been signed by John Menzies and trustees of its pension scheme as it has closed the scheme and plans to begin a sectionalisation process, but experts have highlighted that this sort of agreement is rarely legally binding.
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News
Lawyer survey highlights lack of clearance sought from regulator
Just 21 per cent of pensions and restructuring lawyers normally suggest that clients go through the Pensions Regulator’s clearing process, reflecting a similar decrease in clearance applications submitted.
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OpinionConsidering the future of the defined benefit sector
The pensions minister invites you to submit your views on the defined benefit green paper, and gives his support to the idea of scheme consolidation.
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NewsArcadia agrees shorter recovery plans as Green feels pressure
Arcadia Group has agreed to increase its scheduled contributions to its two pension schemes, a sign that public pressure and 'naming and shaming' may be having some impact.
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News
TPR guidance: Welcome set of principles or waste of time?
While some have welcomed the Pensions Regulator’s recently published and extensive collection of investment guidance for those running defined benefit pension schemes, there are some concerns over the effectiveness of the information for time-stretched or less diligent trustees.
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News
Dashboard prototype launch prompts next steps
Plans to deliver a pensions dashboard prototype by March 2017 have been completed, despite the complex nature of technology infrastructure involved. But while experts think the progress is encouraging, they say more needs to be done to maintain this momentum.
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FeaturesTaylor Wimpey builds synthetic equities to tackle volatility
The pension scheme of housebuilder Taylor Wimpey has undertaken a widespread derisking programme, strengthening existing hedges while converting physical equity investments into a synthetic, volatility-dampening exposure.
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News
IA consults on cost disclosure code amid data overload concerns
The Investment Association is calling for views on a proposed industry code on disclosure of charges and transaction costs, as some have stressed the importance of making such data easy to interpret.
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FeaturesJohn Laing targets speedy return to full funding
The John Laing Pension Fund has agreed a recovery plan worth £171m to be paid over seven years by its sponsor, infrastructure investor John Laing, following an actuarial valuation.
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News
Face-to-face comms can sweeten 'unpalatable' news
With the world of pensions constantly changing, employers and trustees are investing more time, effort and resources into liaising with members, but face-to-face communication has been deemed particularly effective when it comes to bad news.