All Defined benefit articles – Page 60
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NewsPoor understanding of ‘company beliefs’ may hamper endgame plans
On the go: Defined benefit scheme endgame plans are threatened by a lack of understanding about “company beliefs”, according to Hymans Robertson, warning that trustees must ensure such beliefs are aligned with strategic pensions choices.
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NewsGovernment considers overturning PPF’s Bauer ruling
The government is looking to remove the effects of the Bauer ruling, impacting the Pension Protection Fund, from UK law and will introduce primary legislation in the near future, according to a letter sent to various industry stakeholders.
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NewsUniversities to face strike action over USS pensions dispute
Fifty-eight universities will be hit with three days of strike action in December after University and College Union members backed industrial action over pension cuts, pay and working conditions.
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NewsBMA joins firefighters in threatening McCloud legal action
The British Medical Association is the latest public sector body to threaten legal action should the government persist with plans to make its members pay for the cost of the McCloud remedy.
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NewsWomen face £185,000 gender pensions gap
On the go: Women will need to save an average of £185,000 more during their working life to enjoy the same retirement income as men, according to new research by Scottish Widows.
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FeaturesCould CDC solve the USS crisis?
Collective defined contribution has been touted as a possible long-term solution to the problems of the Universities Superannuation Scheme, but experts and unions are not convinced of its suitability.
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NewsMitchells & Butlers trustees win ‘significant’ inflation court case
A decades-old rule change to the Mitchells & Butlers Pension Plan that shifted the authority in deciding pensions indexation should be rectified, a high court judge has ruled, in what has been described as “one of the most significant pension rectification cases in recent years”.
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NewsHonda pension scheme appoints Mercer as fiduciary manager
On the go: The £1.7bn Honda Group UK Pension Scheme has selected Mercer to provide fiduciary management services.
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NewsRodda keen to expand AE but remains silent on pensions tax
Shadow pensions minister Matt Rodda has said he is keen on expanding auto-enrolment and called for a negotiated settlement between unions and the Universities Superannuation Scheme, but he would not be drawn on Labour’s plans for pensions taxation during a talk with the Society of Pension Professionals.
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News£450bn of inflation-linked liabilities remains unmatched
On the go: Some £450bn of inflation-linked liabilities belonging to defined benefit schemes remains unmatched due to a shortage of long-dated gilts, according to analysis by Alpha Real Capital.
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NewsNine in 10 unsure of their pension entitlements
On the go: Nine in 10 people are unsure of what pension they are entitled to or whether they are receiving any pension contributions, according to new research from financial services comparison site Money.
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NewsPASA launches data management controls guidance
On the go: The Pensions Administration Standards Association has launched its new data management controls guidance.
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NewsAviva’s strong BPA sales reflect strength of risk transfer market
On the go: Aviva recorded £2.4bn of bulk purchase annuity deals in the third quarter, bringing its year-to-date volumes to £4bn, according to a trading update from the company on Thursday.
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NewsUCU demands a new USS valuation
On the go: The University and College Union has published a list of demands of Universities UK, the group representing 340 Universities Superannuation Scheme employers, which it says must be met if strike action this winter is to be avoided.
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NewsTelecoms group appoints XPS as pensions adviser
On the go: The BT Group, which has both defined benefit and defined contribution plans including the £57.5bn BT Pension Scheme, has appointed XPS Pensions Group as pensions adviser.
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NewsFormer TPR director served with summons over Section 75 debacle
On the go: Alan Pickering, formerly a non-executive director of the Pensions Regulator and former chair of Plumbing Pensions, has been added to the summons in an employer’s £256,000 claim against the scheme’s trustee over its mishandling of Section 75 debt.
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NewsDB schemes with assets above £1bn increase by 90% in 8 years
On the go: The number of defined benefit pension schemes with assets of more than £1bn has increased by 90 per cent since 2013, according to research by Barnett Waddingham.
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NewsOpperman not rushing CDC, defends statements season
Pensions minister Guy Opperman has confirmed there will be no regulations on multi-employer collective defined contribution schemes before the end of next year, set out targets for Pension Wise uptake, and become embroiled in a spat with former pensions minister Sir Steve Webb over the effectiveness of the proposed “statements season”.
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NewsThree-quarters of pension savers need more professional advice
On the go: Three-quarters of savers lack the confidence to manage their own pensions and need professional advice, according to a survey from NerdWallet.
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NewsPPF 7800 surplus remains ‘solid’ in October
On the go: The aggregate surplus of the 5,318 schemes in the PPF 7800 Index remained “solid” in October, narrowing to £103.2bn from £108.8bn at the end of September, while the funding ratio decreased to 105.9 per cent from 106.4 per cent during the same period.