All Defined benefit articles – Page 176
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News
Industry divided over CPIH
The Office for National Statistics has recently said it will make the consumer price index including owner-occupiers’ housing costs its preferred measure for gauging inflation next year, so should the government follow suit for pension indexation and revaluation?
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News
Keep comms 'balanced' as DB transfer interest is up
Advisory service Intelligent Pensions has seen the number of defined benefit transfer requests it has processed increase during 2016 as members seek to take advantage of the freedom and choice reforms.
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FeaturesSouth Yorkshire admin issues highlight LGPS challenges
A number of local authority schemes have faced administration challenges and missed deadlines after implementing new software, as the provider struggled with capacity troubles.
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News
HMRC system changes ‘not catching anyone unawares’
HMRC is making software changes as part of ongoing plans to ensure its systems are up to date, but as long as pension administrators making pay-as-you-earn or pension scheme returns are prepared, they should not be too concerned, experts have said.
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FeaturesMerseyside mulls infra for income
Merseyside Pension Fund is considering an increase in its allocation to infrastructure, as experts have warned that investors should ensure they have access to the relevant skills and experience.
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News
Hedging at a high as schemes lose hope for fast rate rise
Institutional investors in the UK increased inflation hedging by 11 per cent over Q3, according to a survey – a sign that schemes and sponsors have reached the limits of their tolerance for widening deficits.
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FeaturesRexam reduces membership through commutation exercise
The Rexam Pension Plan has carried out a trivial commutation exercise, contributing towards a reduction in total membership as defined benefit schemes are trying to reduce costs.
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News
Select committee urges government to scrap triple lock
The Work and Pensions Committee has called for the state pension triple lock to be scrapped, in an attempt to ameliorate an economy "skewed in favour of baby boomers and against millennials".
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News
'Rules lottery' continues after Court of Appeal's RPI/CPI judgment
Trustees of the Barnardo Staff Pension Scheme will not be allowed to provide indexation of benefits in line with the consumer price index, according to a Court of Appeal decision earlier this week.
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NewsAlstom energised by employer guarantee and extra contributions
The Alstom Pension Scheme has agreed an increase in recovery plan contributions following a drop in its funding level, but the decision has been buoyed by a strengthened sponsor guarantee.
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NewsDiageo’s Care scheme proposal highlights struggle over DB provision
Two unions are balloting members over industrial action in a pensions dispute with Diageo, as the UK-based multinational proposes replacing its final salary scheme with a career average arrangement.
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News
Schemes urged to look past 'Super Thursday' market movements
The FTSE 100 fell last week on the back of a High Court ruling that parliament must have a vote on the UK’s triggering of Article 50, while the Bank of England revised its inflation expectations upwards.
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News
Is it time to stop worrying about deficits?
Rising yields mean UK pension deficits are finally shrinking again, according to several industry monitoring systems, but is the defined benefit sector spending too much time concentrating on shortfalls?
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News
James Hutton Institute mulls DB closure
The James Hutton Institute is gearing up to begin negotiations with unions, as it proposes closing its career average scheme in favour of a defined contribution arrangement.
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Features
Increased contributions for BA scheme rewarded by investors
The trustees of the New Airways Pension Scheme have agreed a new funding arrangement with sponsor British Airways, a move that saw share prices in BA’s parent company International Airlines Group soar by more than 5 per cent on Wednesday.
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News
Company disclosures lack detail, report concludes
Companies need to provide more information on their defined benefit pension obligations, experts have said, after a study by Lincoln Pensions revealed a lack of clarity on many key issues.
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News
TPR uses powers to stamp out non-compliance and avoidance issues
The Pensions Regulator has continued to demonstrate its tougher approach by fining trustees for non-compliance.
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News
Share prices hit by DB deficits could spur fresh derisking drive
Defined benefit pension deficits are dragging down the market capitalisations of FTSE 100 companies, according to a recent study, as investors recognise the difference between disclosed deficits and the cost of securing benefits upon insolvency.
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FeaturesBritish Coal's green turn on payslips to net £400,000 a year
The British Coal Staff Superannuation Scheme has opted to stop sending monthly paper payslips to its members from August 2017, saving the fund almost £400,000 a year.
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OpinionClosure cases: How trade unions are changing tack
It is not uncommon to hear of trade unions stepping in to protect defined benefit provision for members, as final salary schemes continue to close. But with a greater focus on defined contribution adequacy, union approaches to closure cases are evolving.