All Defined benefit articles – Page 179
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News
Illiquidity premiums move up agenda, but questions over cash flow remain
The new market liquidity regime will make it harder for pension schemes to access credit, says a new report, which recommends they take steps – in particular, to exploit illiquidity premiums – to protect themselves.
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News
Field’s proposal for scheme deficits bill raises pension cut fears
Former pensions minister Steve Webb has warned that a new bill proposed by Work and Pensions Committee chair Frank Field to deal with DB deficits – including by introducing flexible benefits – is a “worrying” development that could undermine people’s confidence in the pension system.
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NewsNetwork Rail plans £19m savings following NI cost hike
Network Rail expects to save around £19m annually following a swath of amendments to two of its schemes to mitigate the increased costs of contracting-out cessation, as many schemes either absorb the cost or close.
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News
Nilgosc to allow lump sum contributions
The Northern Ireland Local Government Officers Superannuation Committee plans to ask for upfront deficit contributions for this year’s LGPS valuation from its employer members as the public sector in Northern Ireland shrinks.
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News
Cash flow is important but not pressing, experts say
For the first time, the Pensions Regulator explicitly included cash flow considerations in its annual funding statement, published last week. Industry insiders welcomed the move, but said the statement has raised other equally important concerns.
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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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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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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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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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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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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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OpinionWhy we need to empower the next generation
Redington’s Rob Gardner says UK pensions policy needs to be decoupled from politics and a large-scale education programme put in place, to prevent the next generation facing financial hardship in old age.
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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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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
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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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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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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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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OpinionTime for sponsors to fIRM up their thinking
For corporates, pension funding is an issue that just will not go away, so perhaps it is time for some fresh thinking before embarking on any more rounds of discussions with their trustees.
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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.