All Defined benefit articles – Page 191
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Features
EE ditches gilts for absolute return as institutions hunt yield
The largest UK mobile group’s defined benefit pension scheme is removing a set allocation to index-linked gilts in favour of absolute return bonds and hedge funds, the latest institutional investor to reset its portfolio in a hunt for value.
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Opinion
PPF: levy dip likely to be followed by further falls
The Pension Protection Fund’s Chris Collins gives a speedy run-through of the latest on its levy changes, and explains why the levy is expected to fall for a further two years after 2015/16.
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Features
Hillingdon targets equity dividends, looks to lock in gains
London Borough of Hillingdon Pension Fund has shifted its equity portfolio away from UK holdings and towards unconstrained strategies, but the move has so far failed to perform.
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News
WMPF takes next step towards paperless comms
The West Midlands Pension Fund is taking the next step towards paperless member communications by issuing its 2015 benefit statement online only, as more schemes move further towards digital portals to reduce costs.
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News
Civil service scheme's online relaunch triggers engagement surge
The Civil Service Pension Scheme has seen a huge spike in engagement from its 1.5m members after a website relaunch and major communication campaign multiplied users of its online services.
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Features
Imerys consults on ceasing DB accrual after merger
Mineral specialist Imerys is undertaking a consultation to cease accrual in its defined benefit pension scheme, following the completion of a scheme merger earlier this year.
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Features
Tyne and Wear switches PE benchmark to limit relative volatility
Tyne and Wear Pension Fund has switched to using an absolute return benchmark for its private equity investments in a bid to reduce the relative volatility of returns.
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Features
BAE sees four in 10 agree to give up pension increases
BAE Systems Pension Scheme has experienced a 38 per cent take-up of a pension increase exchange offered to pensioner members, in an exercise to reduce its inflation risk.
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News
Employers face increased pension loss payouts after NHS case
Employers may be liable to pay increased compensation relating to pension loss to employees dismissed unfairly, lawyers have warned, after a tribunal appeal found an earlier decision had miscalculated the sum owed to an NHS scheme member.
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News
How scrapping 55% 'death tax' could affect your DB scheme
Consultants have again predicted greater interest in transfers out of defined benefit schemes following the proposed removal of inheritance tax on pension pots, while others doubted the changes would have much impact.
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News
Budget flexibilities fail to spur DB transfer interest
Predictions that the Budget flexibilities would lure members out of defined benefit pension schemes have so far proved unfounded, as data show no uplift in the proportion requesting transfer value quotations.
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News
What the ONS data tell us about contribution habits
Official data have shown employers with between 1,000 and 4,999 employees on average contribute more to their defined contribution schemes than their larger and smaller counterparts, as industry experts call for increased contributions.
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Features
Nationwide builds inflation hedge, ups matching assets to derisk
Nationwide Pension Fund has reduced its exposure to return-seeking assets and carried out its first significant inflation hedge, as capital adequacy rules drive banking and building society sponsors to reduce funding volatility.
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Opinion
Schemes make record gilts investment, and three other key ONS charts
Schemes invested heavily in fixed income assets – including government, corporate and overseas bonds – last quarter. Anticipated rate rises, schemes derisking out of equities and even switching from synthetic to real gilt holdings have all been investment drivers.
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News
How devolution could affect your scheme
Scheme professionals have predicted devolved tax and welfare powers to Scotland, England, Wales and Northern Ireland could increase the cost of administering schemes which have members across the UK, though others doubt the impact.
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Features
The Pensions Trust to open doors to private sector DB as employers outsource
The Pensions Trust plans to start accepting private sector employers into the scheme from late October, hoping to attract the growing number of small and medium-sized companies outsourcing the management of defined benefit schemes.
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Opinion
Four steps to a targeted, practical covenant review
In the latest edition of Technical Comment, Spence’s Marian Elliott runs through four steps that schemes can take to achieve a successful employer covenant review.
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Features
Somerset and Devon tighten shared admin strategy to boost employer comms
Somerset County Council Pension Fund and Devon County Council Fund will establish a formal administration strategy in order to improve communication between the schemes and its participating employers.
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News
Three in four DB schemes sizing up post-Budget incentive exercises
Benefit consultants have reported that as many as three-quarters of their defined benefit scheme clients are considering incentive exercises to reduce their risks following the introduction of the Budget freedoms.
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Features
Westminster moves towards global equities to free up managers
The City of Westminster Superannuation Fund has decreased its UK equity holdings in favour of global stocks to give managers greater flexibility and boost performance.