All Defined benefit articles – Page 197
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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
MNOPF: captive insurance longevity swap saved £10m
The Merchant Navy Officers Pension Fund has said the use of a captive insurance company halved the cost of its £1.5bn longevity swap, and opened the door for smaller scheme derisking.
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News
West Midlands plans online growth after web traffic more than doubles
West Midlands Pension Fund plans to develop its online member portal after further growth in traffic and member engagement, as digital communication becomes a mainstay of the sector.
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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.
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News
Secondhand annuities could offer DB funds income, but pricing tricky
The pensions minister’s proposal to allow retirees to cash in annuities could suit defined benefit schemes eager to access the resultant long-term cash flows, but pricing “secondhand” annuities could be a sticking point.
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News
Half of DB schemes unsure how to tackle end of contracting out
Half of defined benefit schemes have not yet decided how they will deal with the end of contracting out, a survey of scheme decision-makers has indicated.
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News
Volunteering charity makes £2.9m deficit payment after property sale
London-based charity Community Service Volunteers has reported using the sale of property assets to reduce the risk posed by its pension deficit, as defined benefit schemes reach their lowest aggregate funding level in 18 months.
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Opinion
How the DB code’s employer growth objective affects scheme funding
In a world where just one in five UK sponsors have a ‘strong’ covenant, Spence’s Marian Elliott explains how trustees of such schemes can strike the balance between an appropriate investment risk strategy and reliance on employer contributions.
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Opinion
PPF: How the pensions landscape is changing
Talking head: The Pension Protection Fund’s Stephen Rice uses the Purple Book to demonstrate that while certain DB asset allocation trends are tailing off, the derisking journey has some way to run.
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Opinion
Six hurdles for DB and DC schemes to get over in 2015
By now, you'll have waded through all manner of 2014 round-ups, but what lies ahead for the pension trustee or scheme manager is certainly more pressing.
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Opinion
Lafarge, Channel 4 and Lloyds feature in the top five derisking stories of 2014
Many schemes worked hard this year to make a dent in their pension fund deficit as liabilities soared, employing methods ranging from simple payment increases to complex recovery plans.
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News
GMP reconciliation to be major 2015 challenge for schemes
Pensions professionals have said guaranteed minimum pension equalisation will be their biggest project in 2015, a survey has shown, as the end of contracting out forces schemes to undertake exercises.
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News
Doncaster takes low-rate £28m loan in novel move to fund scheme
Doncaster council has sought to turn the low interest rate environment to its advantage by taking out £28m in short-term loans to help fund its employer contributions to South Yorkshire Pension Fund.
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Opinion
Cash flow certainty versus closer ties to employer’s fortunes: how to evaluate SLPs
Matthew Ambler from law firm Gordons addresses the drawbacks of using Scottish liability partnerships as part of scheme funding deals.
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News
BT reboots flexible retirement with safety mechanism
BT has reactivated its flexible retirement option following a controversial review, adding a requirement for members to seek advice to ensure they understand its impact on their benefits.
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News
Pennon saves £15m with pensionable pay cap
Utilities company Pennon has become the latest private sector employer to impose a cap on future increases in members’ pensionable pay, saving the company £15m, while installing a voluntary top-up for members.
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News
TPAS: Wave of requests to hit schemes and administrators in April
The Pensions Advisory Service has warned that scheme trustees and administrators risk being overwhelmed in April by members eager to access their savings at the earliest opportunity, having waited a year for the pension freedoms to come into play.
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News
Selex grows surplus to £72m but future costs rise
The £530m Selex Pension Scheme has further grown its funding surplus, but its pensions head is unfazed about overfunding as the interest rate environment has pushed up future service costs.
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News
Webb defends 'revolutionary' CDC legacy against industry critics
Pensions minister Steve Webb told an industry event this week the “pendulum is going to swing back” from individual defined contribution pension provision, but delegates challenged the viability of risk-sharing schemes.