All Defined benefit articles – Page 7
-
NewsCall for levy reform as pension schemes hit with ‘surprise’ £15m PPF bill [updated]
Pensions UK is calling for urgent government action after DB pension schemes were unexpectedly billed for an administration levy connected to the PPF, with the largest schemes facing bills of hundreds of thousands of pounds.
-
NewsPLSA rebrands to Pensions UK as part of fresh five-year strategy
The pensions industry’s trade body has rebranded itself as Pensions UK following a detailed review of its strategy, and set out a plan to expand its reach and influence over the next five years.
-
NewsAviva delivers £249m buy-in for packaging company pension scheme
The transaction secures the benefits of more than 3,500 members of the Molins UK Pension Fund, sponsored by Mpac Group.
-
NewsNew mortality model signals first rise in pensioner life expectancy since pandemic
The latest update to the Continuous Mortality Investigation model has shown an increase in reported life expectancies for retirees for the first time in several years.
-
NewsBus company scheme exits PPF assessment with buy-in
Insurance company Just Group has helped a pension scheme exit the Pension Protection Fund’s assessment period through a £5m buy-in.
-
NewsPIC seals triple buy-in for energy tech schemes worth £900m
Source: Baker Hughes A gas turbine operated by Baker Hughes Energy technology company Baker Hughes has insured three defined benefit pension schemes with Pension Insurance Corporation (PIC) in deals worth a combined £900m.
-
OpinionSPP: How the government’s proposed DB surplus release rules will work
In one of the biggest changes to the rules for defined benefit schemes in years, trustees will soon be allowed to relax rules around releasing surpluses. Bina Mistry of the Society of Pension Professionals explains how this could work.
-
OpinionThe Friday Takeaway: Mulling over the road to reform
We’re all geared up for pension reform after the publication of the Pension Schemes Bill, but we’re going to have to wait a while, as Pensions Expert editor Nick Reeve finds out.
-
NewsClara takes on church scheme in ‘connected covenant’ first
In the first superfund transaction involving a non-profit sponsor, Clara has introduced a model allowing the retention of a sponsor link, which it says adds to member security.
-
OpinionRailpen chief: Lessons from six months in pensions – and where we go next
The new chief executive of the railway sector’s industry-wide pension scheme highlights four key priorities as Railpen prepares for the changes and challenges ahead.
-
NewsMcGregor Construction scheme secures £7m buy-in with Just Group
The buy-in secured members’ benefits at or above those provided by the Pension Protection Fund, after the sponsor went into insolvency in 2022.
-
NewsMirror Group pension scheme secures £150m buy-in with Just
The MGN Pension Scheme – which was raided by Robert Maxwell in the 1980s – has secured a £150m buy-in covering 1,300 of its pensioner members.
-
NewsThree quarters of trustees are open to using surplus release power
The government intends to make changes to the Pensions Act 1995 to allow trustees to change defined benefit pension scheme rules to facilitate surplus release.
-
NewsRoyal London completes biggest bulk annuity deal to date with law firm’s scheme
Law firm Grant Thornton has sealed a £275m buy-in for its defined benefit pension scheme with Royal London, securing the pensions of 2,200 members and establishing a route to a full buyout.
-
NewsRelief for DB schemes as government pledges action on section 37 issues
The DWP has said the government will legislate to address the issues posed by the Virgin Media-NTL case and allow for retrospective actuarial approval to be given to historic amendments.
-
FeaturesThe pensions industry reacts to the ‘blockbuster’ Pension Schemes Bill
Pensions Expert rounds up views from experts across the industry as the government introduces its much-anticipated Pension Schemes Bill to parliament.
-
News‘Game changer’: Pension Schemes Bill laid before parliament
The government will today introduce the much-anticipated Pension Schemes Bill to parliament, setting the stage for a wide-ranging and ambitious overhaul of workplace pensions in the UK.
-
NewsTrustees urged to consider all endgame options as rule changes loom
The Pensions Regulator has set out new guidance around endgame options - but has acknowledged that more will be needed as the government brings in new rules.
-
NewsTPR signs off on release of ‘trapped’ surplus in Littlewoods Pension Scheme
The regulator has permitted Littlewoods’ trustees to release surplus back to the sponsoring employer - only the second time it has allowed changes to scheme rules in this way.
-
NewsConsolidator in waiting? Government taking its time to assess extension of PPF remit
The government will not legislate for a new consolidator for DB pension schemes in the upcoming Pension Schemes Bill, but is still exploring the potential for the Pension Protection Fund to take on the role in future.