All Defined benefit articles – Page 67
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NewsNew Judicial Pension Scheme progresses despite concerns
The Ministry of Justice has confirmed it will move forward with the creation of a new pension scheme for judges, despite concerns from some judges and legal associations that it will be less generous than the existing arrangements
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NewsMcCloud rebellion grows as six unions file for judicial review
Six trade unions want to take the government to court in a bid to stop it imposing the cost of the McCloud remedy on their members, with one considering strike action.
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News‘Transitory’ inflation soars to 10-year high, with more pain to come
Inflation soared to a 10-year high of 5.1 per cent in the year to November 2021, and those who once argued that the inflationary trend would be transitory are now warning that the worst is yet to come.
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NewsTPR’s DB funding code consultation delayed until ‘late summer’ 2022
The second consultation into the Pensions Regulator’s new defined benefit funding code will be delayed until “late summer” 2022.
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NewsRailpen commits to new stewardship goals in 2022 policy
On the go: Railways Pension Scheme manager Railpen is emphasising its commitment to net zero, while also highlighting the approach it aims to take with its portfolio companies over the next 12 months in its newly published 2022 voting policy.
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NewsDB scheme membership plummets 2.5m in 10 years
On the go: New data from the Pensions Regulator shows that defined benefit schemes continued to decline in 2020-21, a decrease that has gone almost unbroken since 2012.
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NewsDB schemes’ surplus falls by £33bn in November
On the go: The aggregate surplus of the 5,215 defined benefit schemes in the Pension Protection Fund 7800 Index fell by £33.1bn in November.
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NewsRisk settlements to top £45bn for third consecutive year
On the go: The UK pension risk settlement market is anticipated to see volumes of more than £45bn by the end of 2021, the third year in a row that it has reached this level, according to analysis by Aon.
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NewsAston Martin faces strike action over DB scheme closure
Workers at carmaker Aston Martin have threatened industrial action following news that it plans to close its defined benefit pension scheme in January 2022.
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NewsDB funding code’s bespoke route could reduce schemes’ costs
Forty per cent of FTSE 350 defined benefit schemes will not be sufficiently well funded to opt for the ‘fast-track’ route in the Pensions Regulator’s forthcoming DB funding code, but the bespoke route offers significant cost savings.
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NewsScottish pensions agency proposes raft of LGPS amendments
The Scottish Public Pensions Agency has launched a consultation into a host of changes to the Local Government Pension Scheme in Scotland, covering early payment of pensions, survivor benefits and the cost cap.
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NewsDB schemes derisk investments as funding levels improve
On the go: Defined benefit schemes are increasingly looking to derisk their investment approach to protect their improved funding levels, according to new research from Aon.
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NewsIndustry concerns remain over anti-scam transfer restrictions
Almost half of schemes have more work to do to comply with new anti-scams transfer guidance, while nearly 10 per cent have “lots of work” to do, an XPS Pensions Group webinar has heard.
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NewsPLSA calls for ‘major review’ of Fraud Compensation Fund
On the go: The Pensions and Lifetime Savings Association has called for a “major review” of the Fraud Compensation Fund, branding the current arrangement “not fit for purpose”.
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OpinionSchemes need to consider illiquids in endgame scenarios
Natalie Winterfrost, investment committee member at the Society of Pension Professionals, explains how schemes targeting endgame plans can still invest in illiquid assets, as these provide additional yields and diversify the investment portfolio.
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NewsGovt consults on NHS scheme McCloud remedy
On the go: The Department of Health and Social Care has published a consultation into changes to be made to the NHS Pension Schemes to accommodate the McCloud remedy.
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NewsAgeing a bigger problem for pensions than Covid-19
The impacts of the Covid-19 pandemic on pensions could be relatively short-lived should the global economy continue to recover, but an ageing population presents long-term challenges with no simple solutions, according to a new report from the OECD.
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NewsTPR opens investigations into 9 DB schemes over funding concerns
On the go: The Pensions Regulator has opened investigations into nine defined benefit schemes, following an engagement exercise designed to assess the risk to savers posed by employer covenants impacted by Covid-19.
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NewsOpperman urges asset managers to increase stewardship practices
The minister for pensions and financial inclusion has written to 44 asset managers urging them to comply with recent stewardship recommendations, which would allow schemes to have a more active voice in these matters.
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NewsPub company schemes hire new fiduciary manager
On the go: The £86m Laurel Pub Pension Scheme and its sister, the £14m Yates Group Pension Scheme, have appointed Kempen Capital Management as their fiduciary manager.