All Defined benefit articles – Page 204
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NewsLocal authority schemes choose multi-asset to limit volatility
Local authority funds have ramped up their interest in multi-asset strategies as they try to manage the impact of volatility on their investments, according to new investment data.
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FeaturesCadbury hedges fifth of assets to manage risk
Cadbury Pension Fund has decided to hedge approximately a fifth of its assets to manage the impact of interest rate and inflation changes on its pension promises.
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Features
Pearl beefs up covenant safeguards for DB members
The £1.9bn Pearl Group Staff Pension Scheme has renegotiated a series of funding conditions with its sponsor to improve security, reflecting greater innovation in how schemes are protecting members’ benefits.
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Features
Aircraft scheme achieves 20% buyout uplift
SR Technics UK’s pension scheme has secured benefits of around 20 per cent above what members would have got through the Pension Protection Fund, by investing in matched assets and improving its data.
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Features
Diageo scraps MND tenure limit to retain talent
Diageo Pension Scheme has scrapped the time limit on the service of its member-nominated directors to avoid a talent drain, as schemes balance members’ democratic rights with continuity in decision-making.
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FeaturesBA sees steady flexible retirement take-up
British Airways has seen steady take-up of its new flexible retirement option since it was introduced in October to provide members with better flexibility in how they access their workplace savings.
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Features
Saul curbs transfers-in to avoid 'unknown liabilities'
The £1.6bn Superannuation Arrangements of the University of London has decided to suspend members from transferring in their old private sector pensions, to manage the risk and cost of regulatory changes including auto-enrolment.
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Features
Tips for managing cost of small scheme derisking
Small schemes looking to derisk should ensure a high standard of data cleansing and carry out a mortality analysis to manage the costs involved, finds Pippa Stephens.
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FeaturesTesco consults with unions to reduce costs
The retail giant's scheme is consulting with trade unions on changes to its retirement age and indexation, in an attempt to achieve member consent for these savings.
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Features
NHS fine shows importance of monitoring retirement dates
As the NHS scheme is fined £4,000 by the ombudsman for maladministration, Pippa Stephens finds out how to avoid costly pay-outs associated with late retirees.
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FeaturesHow BBC’s Care scheme signed up 8,000 members
As the deadline passes for BBC staff to sign up to the corporation’s new career average plan, Anna Lyudvig analyses how schemes can manage such a move
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Features
IBM fraud scare shows value of data safeguards
The IBM scheme has warned its members about hoax phone calls, underlining the importance of administration and data cleansing to minimise the risk of fraud.
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Features
Molins’ controversial plan to close DB scheme revealed
The FTSE-listed tobacco specialist has announced proposals to make staff chose between a new defined contribution plan or face dismissal in order to reduce its long-term liabilities.
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FeaturesPennon: Separate DB/DC cash to reduce admin risk
As the regulator toughens its demands on hybrid scheme governance, Ian Smith analyses how schemes including Pennon are managing their administration risk through clear separation of defined benefit (DB) and defined contribution (DC) funds.
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Features
Healthcare scheme curbs losses with dynamic derisking
Pippa Stephens discovers how the General Healthcare Group (GHG) scheme prevented a five percentage-point drop in its funding position thanks to implementing an investment sub-committee and a triggered derisking strategy.
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News
USS reform shares cost and risk with members
The £32.4bn multi-employer pension scheme has benefited from a series of risk and cost-sharing arrangements with its members
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Features
British Steel launches nursery DC to manage cost
The £11.4bn scheme will close its defined benefit section to new entrants and introduce a money purchase scheme to manage the costs of auto-enrolment.
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Features
Saul avoids member backlash in switch to Care
The Superannuation Arrangements of the University of London used negotiations to avoid a hostile response from members, when it changed its benefits structure earlier this month.
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Features
Schemes up governance after equalisation clashes
Amid a slew of equalisation disputes between schemes and past advisers, Pippa Stephens considers how schemes can improve their governance processes to reduce the risk of future litigation.
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Features
Star Group invests third of assets in diversified beta to reduce risk
The £213m scheme has placed a third of its total assets in a single fund to reduce volatility while running a relatively high risk of overconcentration in one manager