All Defined benefit articles – Page 40
-
-
NewsStaffordshire Fire and Rescue Service pauses McCloud payments
The Staffordshire Fire and Rescue Service has stopped making payments to members of the Firefighters’ Pension Scheme affected by the McCloud ruling after pressure from the government.
-
NewsBMW disputes inclusion on Make My Money Matter net zero target list
BMW has contested its inclusion on a list of the UK’s 20 largest pension schemes to have allegedly not set net zero targets.
-
NewsTfL staff to strike again over pensions
On the go: London Underground staff members of the National Union of Rail, Maritime and Transport Workers will walk out once more as part of their pensions dispute on June 21, to coincide with the biggest set of transport strikes in decades.
-
NewsNI Police Pension Scheme breaches cost cap
On the go: The Police Pension Scheme for Northern Ireland has breached its cost-control mechanism ceiling as a result of the McCloud remedy, according to data from the Government Actuary’s Department.
-
NewsBMA hits out at Capita’s three-year NHS contract extension
On the go: The British Medical Association has hit out at the decision to give Capita a three-year extension to its contract to run Primary Care Support England.
-
NewsFirefighters go to court over ‘letter aimed at blocking pensions’
The Fire Brigades Union is preparing legal action after it received a letter intended for chief fire officers, which it described as an attempt “to block firefighters receiving the pensions they are legally entitled to”.
-
NewsGovt redefines fiduciary management in CMA probe reply
The government has excluded transition management from the scope of fiduciary management in its response to the Competition and Markets Authority’s 2018 investigation of the sector.
-
NewsSoas demands new USS valuation and inequality assessments
On the go: Soas University of London and its union branch have jointly called for “an evidence-based, moderately prudent valuation as soon as possible” of the £88.8bn Universities Superannuation Scheme.
-
NewsPublic sector pension liabilities break £2tn with 16% surge
On the go: Changes to mortality assumptions have played their part in pushing the net public sector pension liability up by 15.6 per cent between the 2018-19 and 2019-20 periods, reaching almost £2.2tn.
-
NewsFTSE 100 schemes see surplus hit £100bn record
On the go: Defined benefit schemes sponsored by FTSE 100 companies have seen their surplus on an IAS 19 basis hit a record £100bn in mid-May, according to new analysis.
-
NewsNational LGPS Frameworks appoints admin companies
On the go: The National Local Government Pension Scheme Frameworks has appointed a series of companies to provide pensions administration and operational support services.
-
NewsNew British Steel scheme signs second buy-in
On the go: The British Steel Pension Scheme II has secured a second buy-in with Legal & General, insuring around 25 per cent of its liabilities.
-
NewsNumber of NHS workers claiming pension benefits hits record high
On the go: The number of NHS workers claiming their pension benefits reached an all-time high in April 2022, which Quilter has said suggests more people are deciding to retire.
-
NewsBedfordshire pools academy liabilities in bid to cut volatility
The £2.76bn Bedfordshire Pension Fund’s committee has agreed to create a pool for its academies’ pension liabilities, in a bid to reduce the volatility caused by members entering and exiting the scheme.
-
NewsUSS plans funding review as deficit drops to £1.6bn
The £88.8bn Universities Superannuation Scheme has teased the possibility of increasing benefits and cutting contributions, after its latest review revealed a markedly improved funding position.
-
NewsCHC scheme trustees warn CMA of ‘seriously detrimental’ sale
The trustees of the £181.2mn CHC Scotia Pension Scheme have told the Competition and Markets Authority that its recent intervention risks being “seriously detrimental to the interests of the scheme and its members”.
-
NewsTimms urges Opperman to reconsider FAS compensation cap
Work and Pensions Committee chair Stephen Timms has asked pensions minister Guy Opperman to reconsider the interest on arrears and the application of the compensation cap for Financial Assistance Scheme members.
-
News‘Flurry of activity’ expected in the bulk annuity market
On the go: The buy-in and buyout market is expected to have a “flurry of activity” over the next 12 months as defined benefit schemes look to accelerate their derisking plans, according to LCP.
-
NewsTPR predicts improvements in funding levels
Pension schemes with recent valuation dates are expected to achieve improved funding levels, the Pensions Regulator has predicted, while many schemes in deficit should be able to maintain or reduce deficit repair contributions.