All Defined benefit articles – Page 171
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News
DWP launches online tracing site as demand booms
The Department for Work and Pensions has launched a new website for the government's pension tracing service, as the number of people seeking their deferred pots has ballooned over the past decade.
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FeaturesSainsbury's marks down deficit by £262m
Sainsbury’s Pension Scheme has reduced its post-tax deficit by £262m in the past year, following exceptional employer contributions and an increase in the discount rate.
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NewsIn-house management and infrastructure dominate LGPS pooling debate
As the pooling of the Local Government Pension Scheme progresses, some funds have warned of the risks of in-house management and questioned whether infrastructure investment is necessarily a good bet.
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FeaturesHalcrow plots rescue of DB scheme
Engineering company Halcrow’s pension scheme is expected to agree a liability-management exercise in coming weeks after the High Court ruled a previous proposal was illegal.
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Features
GMP top priority this year but trustees could be missing the bigger picture
Respondents to consultancy Capita’s 'Pension scheme insight report' cited guaranteed minimum pension reconciliation, member communications and derisking as their main concerns for 2016, but experts say there are more acute challenges that schemes fail to address.
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NewsPensions unfair to younger generation, industry says
The current pension system is unfair to the younger generation, the majority of participants at a debate hosted by professional trustee company Law Debenture this week agreed.
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FeaturesSelex cuts costs with new Care structure
The Selex Pension Scheme has moved to a career average revalued earnings structure following the results of its latest triennial valuation, in an attempt to cut costs and reduce risk.
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News
BHS collapse raises questions for the regulator
The Pensions Regulator is investigating the BHS Pension Scheme as the sponsoring employer enters insolvency, but some experts queried why the regulator did not act sooner to secure the ailing scheme.
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NewsLloyds Banking Group drives efficiency with single trustee board
Lloyds Banking Group has merged the trustee boards of three of its defined benefit pension funds to boost efficiency, decrease duplication and strengthen its relationship with the schemes.
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NewsWelsh LGPS funds lead the pack on pooling with passive manager appointment
Welsh Local Government Pension Scheme funds have announced the appointment of BlackRock to a £2.8bn passive mandate, following a joint procurement exercise.
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News
How alignment of interests can improve member outcomes
Real change in the investment industry is needed to drive alignment of interests along the value chain, delegates at the CFA Professionalism Conference heard, as panellists criticised the current state of communication between fund managers and asset owners.
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Features
Scapa reduces liabilities by £4m via mortality study
Adhesive tape manufacturer Scapa has reduced its defined benefit liability by £4m, having undertaken a mortality study across its pensioner population as part of a holistic approach to managing risk across the scheme’s assets and long-term obligations.
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NewsEiopa opts for standardised risk framework
The European Insurance and Occupational Pensions Authority has advocated the creation of a standardised framework for risk assessment and transparency in EU pension funds, quashing long-running fears of a shift to more stringent solvency funding requirements.
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News
Union seeks parliamentary debate on LGPS pooling
A parliamentary petition launched by public service trade union Unison, seeking debate on the pooling of Local Government Pension Scheme assets, has attracted nearly 30,000 signatures and could spell delays to progress in the pooling project.
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News
50-50 take up remains low, but tax changes could spur interest
Take up of a 50-50 option for members of local government pension scheme funds – which allows halving overall contributions – remains low but could rise with changes to pension tax next year.
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NewsCarr’s Group ploughs into surplus
Carr’s Group has reeled in its scheme deficit after years of steep cash contributions and restructured the scheme’s matching portfolio to shore up funding on the road to buyout.
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NewsHow to manage an overseas parent company
Any other business: A good relationship with a strong sponsoring employer is a great boon to a pension scheme, as it can mean access to a generous recovery plan and robust guarantees for the future of the scheme and its members.
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FeaturesITV absorbs Wireless Group DB scheme
Broadcasting company Wireless Group has signed over its defined benefit pension obligations to broadcaster ITV, under the terms of sale of its television entities to the media giant, showing that defined benefit schemes do not have to be left behind in mergers and acquisitions.
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Features
Weir Group cuts deficit contributions with 15-year funding vehicle
Weir Group established a Scottish Limited Partnership with the trustee of its main defined benefit scheme last year, allowing the group to reduce its deficit recovery payments while adding to the security of members’ benefits.
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Features
GKN continues derisking with £53m buy-in
Global engineering group GKN signed off a second pensioner buy-in during 2015, insuring an additional £47m of pensioner liabilities, as part of a broad strategy to manage asset and liability risk as the group’s UK schemes mature.