All Defined benefit articles – Page 61
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NewsSupermarket pension schemes commit to net zero
On the go: The Tesco Plc Pension Scheme and the Tesco Retirement Savings Plan, which together have assets of more than £24bn, have pledged to reach net zero by no later than 2050.
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NewsMore schemes choosing buyouts over self-sufficiency, Aon finds
On the go: The number of pension schemes targeting buyouts has surpassed those opting for self-sufficiency for the first time, according to new research from Aon.
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NewsESG uptake ‘sharp’ among bulk annuity insurers
On the go: The integration of environmental, social and governance risks by UK bulk annuity insurers has been described as “sharp”, in a survey of the eight largest providers by Willis Towers Watson.
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NewsUUK tries to dispel valuation myths as UCU presses on with strike action
Universities UK, the group representing 340 Universities Superannuation Scheme employers, has argued that the rate increases facing USS members would not be alleviated by a new valuation, countering claims made by the University and College Union.
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NewsUniversity of Dundee urged to agree pensions deal with striking staff
On the go: The Scottish government’s higher education minister has urged the University of Dundee to reach an agreement with staff striking over controversial plans to move low-paid workers to a defined contribution scheme.
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NewsUCU members back strike action over USS pension cuts
University and College Union members have backed industrial action over cuts proposed by the Universities Superannuation Scheme trustee and Universities UK, the group representing 340 USS employers.
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NewsMassive retender exercise sees fiduciary manager fees drop
On the go:The Competition and Markets Authority order for schemes to run a fiduciary management tender exercise led to a 345 per cent increase in retenders in 2021, a process that saw a marked decline in fees, according to research from Isio.
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NewsFirefighters threaten legal action over McCloud costs
The government is braced for more McCloud drama after the Fire Brigades Union published a letter threatening legal action to stop the cost of the remedy falling on members.
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People NewsObituary: David Weeks
Former co-chair of the Association of Member Nominated Trustees David Weeks has died of cancer.
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NewsUSS says High Court challenge has ‘no merit’
On the go: The Universities Superannuation Scheme has said that a wide-ranging legal challenge recently brought to the High Court by university academics has “absolutely no merit”.
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NewsTPR’s chair to lead investment benchmark tool for schemes
On the go: Asset management consultancy MJ Hudson has announced the creation of an investment decision-making tool for pension schemes, which will be headed by the Pensions Regulator chair Sarah Smart.
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NewsUCU considers legal action against USS and calls for valuation pause
The University and College Union’s general secretary has written to the Universities Superannuation Scheme’s chief executive outlining the potential for legal action against the scheme’s trustees and has called for a pause in the 2020 valuation process.
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NewsDaily Mail owner nears £400m pension deal amid takeover
On the go: A potential takeover deal of the Daily Mail and General Trust by the Rothermeres would see a sum of approximately £400m being injected into the publisher’s pension schemes, DMGT has announced.
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NewsCharity scheme to leave PPF assessment in £30m buy-in
On the go: The John Townsend Trust Pension and Assurance Scheme has agreed a £30m full scheme buy-in with Legal & General, moving out of the assessment period at the Pension Protection Fund.
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NewsUSS directors sued over climate inaction and breaches of duty
Two university lecturers, backed by a number of branches of the University and College Union, have filed a wide-ranging legal action against the directors of the Universities Superannuation Scheme, accusing them of multiple failings with respect to the controversial 2020 valuation, and of inaction around climate change commitments.
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NewsDWP proposes fraud compensation levy increase for all pension schemes
The Department for Work and Pensions is consulting on changes to the fraud compensation levy, which will see pension schemes pay more than double the current fee as pension scam claims rise.
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OpinionIs real estate a good inflation hedge for pension schemes?
Rising inflation has been a widely discussed topic for years, but it has gained greater prominence of late as a spike in commodity prices has caused prices to creep up both globally and domestically.
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NewsSaul to create ‘feeder’ DC scheme for new members
The Superannuation Arrangement of the University of London is set to create a new “feeder” defined contribution pension scheme as it undertakes a review of its investment strategy.
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NewsTPR to tighten supervision to steer schemes’ climate response
The Pensions Regulator is aiming to set “clear expectations” of what it wants to see from pension schemes, while increasing supervision ahead of the new requirements to comply with environmental, social and governance legislation under the Pension Schemes Act 2021.
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NewsBudget: Govt not expecting tax relief take-up and millions for McCloud
Pensions Expert’s roundup of the key figures from the Autumn Budget: the government assumes most people will not claim their net pay tax relief top-up, £10m has been set aside to help administer increasingly complex McCloud tax arrangements, and the Goodwin remedy could end up costing £3bn. However, savings have been made from the double lock and state pension overpayment revisions.