All Defined benefit articles – Page 36
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NewsScam warnings on DB transfers reach all-time high
On the go: The number of scam warnings on defined benefit transfers is at an all-time high, despite a downward trend in transfer activity, XPS Pensions has said.
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NewsInflation hits new 40-year high of 9.4%
On the go: The rate of inflation has risen to 9.4 per cent in the 12 months to June, as the governor of the Bank of England warns that interest rates could be increased by 0.5 per cent in the next decision meeting.
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NewsOpperman to lead task force on ‘social factors’ in ESG
Pensions minister Guy Opperman has announced the creation of a task force to aid trustees with monitoring data and international reporting developments as they pertain to the “S” in environmental, social and governance considerations.
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NewsMPs call for tax-unregistered NHS pension scheme
MPs have called on the government to revisit legislation that is being blamed for early retirements among NHS workers and financial penalties on health workers.
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OpinionFive factors to consider before investing in illiquid alternatives
Illiquid assets have played a small but significant role in defined benefit pension scheme investment for many decades.
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NewsMorrisons agrees to sponsor McColl’s schemes
On the go: Wm Morrison Supermarkets group is the new sponsor of McColl’s two defined benefit schemes, in a deal that has secured the benefits of 2,000 members.
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NewsPPF fulfils strategic priorities and may lower the levy
On the go: The Pension Protection Fund has handed out £1.1bn in member payments in the past year, having successfully met its five strategic priorities — and it may now be in a position to consider bringing down the PPF levy as part of a focus shift towards financial resilience.
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NewsPodcast: Providers delaying transfers are failing their customers
Podcast: The Department for Work and Pensions has been clear about the intent of regulations governing transfers, and providers continuing to delay them are doing their members a disservice, argues PensionBee founder Romi Savova. She is joined by Penfold co-founder Pete Hykin to discuss the ongoing transfer fight, the fallout from pensions minister Guy Opperman’s resignation that wasn’t, and employers misunderstanding auto-enrolment.
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NewsEDS scheme secures £1.1bn full buy-in
On the go: The £1.5bn EDS 1994 Pension Scheme has secured a £1.1bn full buy-in with Pension Insurance Corporation.
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NewsNew British Steel scheme appoints investment manager
On the go: The new £9.9bn British Steel Pension Scheme has agreed in principle to appoint Legal & General Investment Management to handle its scheme assets in full.
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NewsWhitbread Group scheme secures £680mn buy-in
On the go: The £3bn Whitbread Group Pension Fund has secured a £680mn buy-in with Standard Life.
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NewsBulk annuity deal volumes on track to hit £35bn in 2022
On the go: Total buy-in and buyout volumes are on track to reach £35bn by the close of the year, up more than 25 per cent from £27.7bn registered in 2021.
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NewsGovt writes off £483,000 as Aon completes Maxwell scheme wind-up
Aon has overseen the wind-up of the AGB Pension Scheme, the last of the so-called “Maxwell pension schemes” supported by Aon Trustees Limited, with the aid of a £483,294 write-off by the government.
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NewsDWP spends £13mn in arrears to FAS members due to court cases
The Department for Work and Pensions is estimating a total cost of £13mn in arrears paid to Financial Assistance Scheme members due to the implementation of recent court cases, its annual report and accounts have revealed.
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NewsDB schemes reach 120% funding
On the go: The aggregate surplus of the 5,215 defined benefit schemes in the Pension Protection Fund 7800 Index increased by £6.3bn in June, reaching a funding position of 120.1 per cent.
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NewsNest vows to improve gender and ethnicity pay gaps
On the go: Nest has outlined a path to closing the gender and ethnicity pay gaps following the release of two years’ worth of equality and inclusion data.
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NewsAlmost half of LGPS funds expect to be fully funded by next valuation
On the go: Forty-six per cent of Local Government Pension Scheme funds expect to be more than 100 per cent funded at their next triennial actuarial valuation, according to new research.
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NewsGuy Opperman reappointed pensions minister
Guy Opperman has agreed to return to his pensions minister post until a new leader of the Conservative party is elected.
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NewsGovernment resignations throw pensions into ‘turmoil’
Collapsing scenery in and around Downing Street has sparked fear in the pensions industry, as the resignation of pensions minister Guy Opperman brings important reforms to a halt.
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News90% of savers would use digital pensions dashboard
On the go: Nine in 10 savers would use a digital pensions dashboard if it gave them a consolidated view of their pensions, savings and investments, according to research from The Investing and Saving Alliance and EY.