All Defined benefit articles – Page 183
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NewsShipbuilding scheme docks £220m into LDI
The Shipbuilding Industries Pension Scheme has committed £220m to a liability-driven investment mandate run by Legal & General Investment Management, as it seeks to derisk and hedge against interest rate rises.
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News
Johnston Press longevity study cuts deficit by £53m
Regional publishing group Johnston Press has cut its IAS 19 deficit by £63m in the past year, with close to 85 per cent arising from changes to the mortality assumptions.
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News
Hertfordshire joins Access LGPS pool
Hertfordshire County Council Pension Fund has joined with 10 other local authority schemes to launch the £33bn Access asset pool, as Local Government Pension Scheme funds work through the governance implications of pooling.
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News4imprint hits home straight with buy-in conversions
Trustees of 4imprint’s defined benefit pension scheme have reached agreement to convert two previous buy-in arrangements to a buyout, as the US-focused company looks to tackle its UK legacy obligations.
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NewsNorthern Ireland Assembly latest to join public sector pensions reform push
Members of the Northern Ireland Assembly will be subject to significant changes to their pensions from the May 5 assembly election, bringing the country's politicians' retirement benefits in line with cost-saving efforts across the UK public sector.
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NewsRBS decision to pass on £18m NI costs to members 'unsurprising'
Members of the Royal Bank of Scotland’s defined benefit pension scheme are set to foot the bill for an £18m rise in the bank’s national insurance contributions following the end of contracting-out, raising the question of whether this practice could become the norm.
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PiP calls on government to bridge infra gap
The Pensions Infrastructure Platform has called on the government to make UK infrastructure more appealing to investors, in an effort to address the mismatch between government hopes for infrastructure investment and schemes’ need for returns.
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OpinionWhat a move to CPIH could mean for UK pension schemes
Analysis: A letter from the Office for National Statistics recently cast ripples of doubt over the future shape of UK consumer inflation statistics; a move to consumer price inflation including housing, or even a household inflation index could have far-reaching effects on UK pension fund benefits and liabilities.
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Features
Shell diversifies away from equities over market fears
The Shell Contributory Pension Fund has diversified its growth asset portfolio and reduced its equity holdings in response to concerns about the level of risk.
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Three complex investment issues demystified
PLSA Investment Conference 2016: Three pensions professionals were each tasked with explaining a complex investment issue in five minutes, demonstrating how things like good value, credit or Brexit can be explained to members.
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PLSA launches DB taskforce as deficits spiral
PLSA Investment Conference 2016: While the combined deficit in the PPF 7800 index has reached £322.8bn, the Pensions and Lifetime Savings Association said it has launched a taskforce to “tackle the problems faced by defined benefit pension schemes”.
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NewsSchemes think long term to tackle future risk
PLSA Investment Conference 2016: Panellists from both public and private sector defined benefit arrangements and defined contribution mastertrust Nest assessed the complex matrix of risks facing schemes across the UK.
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LGPS to meet cost of GMP inflation proofing
A quirk in regulation could leave the Local Government Pension Scheme and several other public sector arrangements responsible for meeting the costs of inflation-proofing the benefits of members retiring between April 2016 and December 2018.
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Tax relief off the table but Budget could still bring surprises
The chancellor is reported to have shelved anticipated changes to pensions tax relief ahead of next week’s Budget, but industry commentators predict a further wrangle of the landscape could still be afoot.
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OpinionPPF: Don’t delay GMP reconciliation
The GMP reconciliation deadline is looming, and where schemes fail to reconcile data, liabilities could increase unnecessarily. The Pension Protection Fund’s Chris Parrish says where schemes in PPF assessment can seek help.
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News
Barclays scheme probes impact of ringfencing
Barclays is assessing which of its entities will participate in the bank’s UK Retirement Fund from 2026, when ringfencing regulations become fully effective, as schemes across the sector face up to complex covenant questions.
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NewsSwallowfield charts new route with scheme closure
The latest scheme to pull up the drawbridge on defined benefit accrual, Swallowfield has enhanced its defined contribution offering for members, but consultants have urged caution against “sleepwalking” into bigger deficits.
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Consultancy looks to group small schemes for bulk annuity scale
Consultancy KPMG is looking to group small schemes together before bringing them to the bulk insurance market, allowing them to better access the buy-in and buyout markets, but rivals have said governance could prove a challenge.
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NewsCostly equalisation error: Morrisons handed £100m liability by High Court ruling
A High Court ruling on the benefits for 15,000 former Safeway workers has added a £100m liability to current owner Morrison’s defined benefit obligation, pointing to the difficulties involved in equalisation.
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FeaturesUnilever refines DB and DC investment after review
Pension fund trustees at consumer goods giant Unilever undertook a review of the UK pension scheme's overall strategy last year and have implemented several changes across the defined benefit and defined contribution sections.