All Defined benefit articles – Page 168
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FeaturesCAF exits multi-employer scheme to set up own fund
The Charities Aid Foundation has withdrawn from a multi-employer defined benefit pension plan and established a new DB scheme, removing its exposure to other employers’ pension liabilities.
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FeaturesPirelli announces £600m longevity swaps as deal flow set to accelerate
Italian tyre manufacturer Pirelli’s two main UK pension schemes have agreed longevity swaps covering £600m of pensioner liabilities, as researchers have suggested market volatility and insurer competition mean schemes could see attractive prices emerge on risk settlement products.
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News
Schemes urged to revisit risk as deficits soar
Defined benefit pension deficits have escalated since last month, but despite the challenging environment and gloomy outlook, some experts say schemes should stay calm and consider re-evaluating their risk portfolios.
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Features
Phoenix Group opts for second helping of Pie
Phoenix Group’s PGL Pension Scheme has completed a pension increase exchange exercise, but despite only wiping £3m off liabilities, the company says the exercise met pre-implementation expectations.
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NewsJohn Menzies considers change as activists increase split pressure
Aviation services and distribution provider John Menzies is in talks with trustees over possible changes to its pension scheme, as the group considers splitting its two businesses under mounting pressure from activist investors.
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News
Chair competence key as survey highlights inefficient meetings
Any Other Business: Pension fund trusteeship is a time-consuming role with huge responsibilities covering a wide range of topics, but are the boards running schemes using their time wisely?
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Features
Desire for better data sparks mortality study for Star Group
Star Group has decided to conduct a medically underwritten mortality study for its defined benefit scheme, as it works on tackling an increased deficit while reducing investment risk.
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News
CPI and RPI gap at largest for five years as schemes eye law change
The retail price index and consumer price index were the farthest apart they have been for five years in last month’s inflation figures, prompting debate that legislation could level the playing field for schemes using RPI for benefit increases.
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FeaturesVodafone scheme diversifies with alternatives additions
Vodafone has made a foray into a number of new asset classes, including alternative beta, alternative credit and private market investments, for greater diversification.
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Features
Salvation Army derisks as charities struggle with pension deficits
The Salvation Army has recently reduced risk in its UK defined benefit multi-employer scheme, having made efforts to tackle its pension deficit, but pension obligations are proving increasingly problematic for many charities.
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Opinion
Another pensions headline
Editorial: After the dust settled on the Robert Maxwell scandal, for many years pensions news was not exactly the stuff of dreams for journalists. But this year all that looks set to change, as pensions are now right up there alongside Britain's Olympic triumphs and conflict in the Middle East.
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FeaturesBBC aims to drive down fees in private markets strategy
The BBC scheme lowered its overall investment management fees by £3m over five years, while further increasing its significant exposure to private markets, a move the scheme says allows it to match liabilities at the same time as generating capital growth.
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FeaturesHP scheme reboots parent company guarantee
The Hewlett-Packard Limited Retirement Benefits Plan has replaced its parent company guarantee following a major corporate reorganisation, resulting in improved terms for members.
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News
Monitoring crucial as transfer requests could creep up
Defined benefit schemes could see increased levels of transfer quotation requests as low gilt yields push values higher. Experts have said trustees should monitor request numbers and manage their liquidity accordingly.
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Opinion
LPP: Pensions are not in dire straits
Traditionally, August has been a good time to clear emails, take the time to read some thought-leadership booklets that consultants often send you over the months or just chip away at the fringe pieces of work that somehow slip down the pile in busier times.
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News
Pension schemes steer clear from selling gilts as rate pain intensifies
Pension funds struggling with low yields have held back from selling long-dated government bonds, causing the Bank of England to miss its gilt buying target on Tuesday.
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News
Select committee seeks views on expanding regulator powers
The Work and Pensions Committee is to consider amending the powers of the Pensions Regulator and the make-up of the Pension Protection Fund as part of its ongoing inquiry into the Pension Protection Fund and the Pensions Regulator following the collapse of BHS.
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News
Hedged Aviva schemes survive rate cut
Pension schemes sponsored by insurance giant Aviva have reported a marked increase in their accounting surplus owing principally to falling interest rates, but experts warn of further pain for schemes which are not hedged against interest rate risk.
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NewsRailways scheme on track with cost management
The Railways Pension Scheme has saved £100m in fees, having restructured its external management and pooled fund arrangements, but despite being cost-conscious, the fund remains focused on net returns.
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FeaturesRSA scheme targets buy-and-maintain strategy to derisk
The RSA Insurance Group’s Sal Pension Fund is focusing on buy-and-maintain credit as part of an investment strategy overhaul as the scheme looks to further derisk its portfolio following the results of its latest actuarial valuation.