All Defined benefit articles – Page 186
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Features
Does your pension scheme work for younger savers?
Young people's participation in pension schemes is on the up, thanks largely to auto-enrolment, challenging their managers to plug into the needs of their changing membership profiles.
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Opinion
Buchanan: Lay trustees play an often unenviable but critical role
Since I first became a pensions lawyer more than 23 years ago, the level of complexity of pensions has increased both in terms of legislation but also the case law set by judges – a recent IBM judgment exceeded 600 pages in length.
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News
Energy group sells ships to buoy funding
UK energy major BG Group is using the $460m (£299m) sale of two liquid natural gas carrier ships to quell a rising deficit, the latest development in a 15-year funding deal.
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News
PPF index highlights DB funding trough, expected to normalise
The Pension Protection Fund’s latest 7800 Index figures showed further deteriorating funding deficits among defined benefit schemes, but industry commentators expressed caution against knee-jerk reactions to the slide.
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Features
Reports predict bulk derisking boom as deficits rise
Around two-thirds of defined benefit schemes worth more than £1bn are exploring derisking strategies, according to research, with climbing deficits and product innovation seen as key drivers.
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News
Fund management body sets out charges disclosure plan
Industry experts have welcomed proposals on charges and transaction costs from the Investment Association, but warned trustees should not make fees their only focus.
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Opinion
Altmann: Don't abandon member safeguards in DB-DC transfers
Allowing people to decide for themselves how best to use their pension savings is broadly welcome.
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News
How BT structured deal to recover £7bn deficit
The BT Pension Scheme has agreed a revised plan to conquer its £7bn deficit, a deal that experts say will give the scheme particular reliance on the company.
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News
NHS scheme sees positive response for overhauled comms
The NHS Pension Scheme has sought to turn around criticism from employers on its communications approach, with the launch of online statements for employees detailing their various entitlements.
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News
Civil Service scheme looks to widen comms after payment delays
The Civil Service Pension Scheme plans to turn to Instagram and mobile technology to communicate with members as it recovers from the fallout of its administration transfer in September.
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News
What the regulator's £8.5m Carrington Wire deal means for your scheme
The Pensions Regulator has settled with two linked Russian companies for £8.5m over their UK pension fund obligations, prompting calls for trustees to re-examine covenant agreements.
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Opinion
Why trustees will be spending more time on PPF certification, not less
It was no surprise the Pensions Regulator’s latest defined benefit code recognised the potential value to both schemes and sponsors of contingent assets where trustees agree "to accept more risk than can be supported by their available employer covenant”.
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Opinion
Communicating difficult benefit changes: a scheme guide
Communicating difficult messages on benefit changes is not easy. The likelihood is that some or all staff are going to suffer some consequence – with the potential knock-on impact of negative feedback, disengagement, loss of productivity or retention issues.
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Opinion
Class actions are on the rise. Should trustees pick up their cudgels?
Almost from nowhere, pension managers and investment committees are being bombarded with class actions. But how do you manage these, and what are trustees’ duties in these cases?
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News
LPFA: £500m GMPF tie-up not limited to infra
The chief of the London Pensions Fund Authority has said the £500m tie-up with the Greater Manchester Pension Fund, announced las week, will consider “infrastructure in a broad definition”.
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News
Webb backs mastertrusts to lead CDC vanguard
Pensions minister Steve Webb has signalled support for mastertrusts delivering a collective defined contribution option for members, at a Trades Union Congress conference on Wednesday – but at least one of the large mastertrusts has rejected the idea.
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News
Schemes plan partial DB-DC transfers to trim liabilities
Legal experts have reported an increase in pension schemes planning to reduce their liabilities by changing their rules to allow partial transfer of members' pure defined benefit assets into defined contribution arrangements.
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News
Kent sees 75% reduction in overpayment write-offs
Kent Pension Fund has driven down its overpayment write-offs by 75 per cent after the implementation of monthly mortality screening – as administration experts raise concerns about schemes’ data holes.
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News
Inflation hedging on the rise with smaller scheme LDI
Inflation hedging activity saw a jump towards the end of last year as medium-sized schemes took advantage of favourable pricing, ahead of further inflation falls.
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News
Invensys blitzes liabilities with cash, PIE and closure plans
Invensys Pension Scheme has launched a three-pronged attack on its liabilities by offering defined benefit members cash for smaller pensions and the option of trading in pension increases on larger pots – while planning to cease all accrual.