All Defined benefit articles – Page 17
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OpinionCan regulation revive DB schemes?
The Work and Pensions Committee’s call for evidence on defined benefit (DB) pension schemes has now closed, and with a new funding code on the horizon, now is a good time to reflect on what makes a successful DB scheme.
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NewsMore than a third opt out of NHS Pension Scheme
The cost of living crisis has forced more than 50,000 people to leave the NHS Pension Scheme this tax year due to affordability, new data from Quilter has found.
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NewsLabour could ‘review and restructure’ LTA
A change in parliament could be reflected in the lifetime allowance, according to Rosalind Connor, managing partner at ARC Pensions Law.
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NewsIFS launches review of pensions system in new report
The Institute for Fiscal Studies has launched a wide-ranging review of the pensions system, looking at whether people are saving enough and if more support is needed for people to use their funds appropriately.
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NewsUCU declares ‘historic victory’ over recovery of ‘stolen pensions’
The University and College Union declared a “historic victory” on April 17 after members voted overwhelmingly by 85 per cent to move forward with pension proposals agreed with employers, leaving the door open for benefits to be restored.
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NewsDB funding remains strong, but transfers remain high risk
The March 2023 PPF 7800 index estimates the aggregate surplus of the 5,131 schemes it covers to have decreased over the month to £359.3bn as of March 31, from a surplus of £381.4bn at the end of February, a fall of almost 6 per cent.
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NewsInflation falls but remains high enough to do damage
The hopes of analysts waiting with bated breath for the latest inflation rates have been dashed, after the headline figure is shown to have remained in double digits at 10.1 per cent, according to the latest data from the Office for National Statistics.
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NewsDisappointment over DB funding code delay
When the Pensions Regulator released its 2023-24 corporate plan last week, it revealed that it had put its long-awaited and much-vaunted defined benefit funding code on the back burner.
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NewsTPR authorises first CDC pension scheme
The Pensions Regulator has authorised the UK’s first collective defined contribution pension scheme.
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NewsReal estate asset managers set to miss carbon reduction targets
New research shows that almost all commercial real estate assets managed by asset management companies will fail to reach their carbon emissions reduction targets.
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NewsHMRC U-turns on lifetime allowance death payments change
HM Revenue & Customs has listened to feedback from pension providers and will abandon making changes on dealing with death benefits in respect of the lifetime allowance being scrapped.
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NewsLDI: all in it together, but some responsibilities are regulators’ alone
The Pensions Regulator published new guidance on April 24 that outlined how leveraged liability-driven investment should be used within defined benefit schemes’ investment strategies.
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NewsThree-quarters of UK adults are ignorant of their pension savings
Three in every four people (75 per cent) are ignorant of how much they have saved in their pensions, according to new research by Standard Life.
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NewsAltmann: ‘Older pensioners must not be abandoned’
The government was right to raise state pensions in line with inflation this year after it “abandoned” pensioners in 2022, former pensions minister Baroness Ros Altmann has said.
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NewsReport: UK workers face more than £115,000 retirement income deficit
That people are not saving enough for their retirement is a well established fact. But a new report has put a figure of £115,000 as the deficit those who rely solely on pension contributions will face once they retire.
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NewsNext generation will live beyond their means in retirement
A generation of retirees is unsure about their financial position and needs support to understand it, according to a new study by The Wisdom Council, published on April 4.
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FeaturesThe resurgence of pension scheme surpluses
For most defined benefit schemes, surplus has been a theoretical issue for much of the past 20 years.
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NewsUSS confirms full restoration of benefits on course for April 2024
The Universities Superannuation Scheme has confirmed that restoring benefits cut last year will cost less than employers and staff are currently paying into the pension scheme.
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NewsTPR publishes EDI guidance for scheme trustees and sponsors
The Pensions Regulator has published equality, diversity and inclusion guidance for pension scheme governing bodies and employers.
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OpinionDB pensions: Only 5 years left?
So it is not exactly five years, but 5.3 years to be precise. That is what Barnett Waddingham’s DB End Gauge index tells us is the average time for defined benefit pension schemes to be able to buy out their liabilities as at February 28 2023.