All Defined benefit articles – Page 74
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NewsUSS board member resigns after scheme valuation fallout
On the go: Ian Maybury, director at the trustee board of the Universities Superannuation Scheme, has resigned from his post after a disagreement on the pension fund’s latest actuarial valuation.
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PodcastsPodcast: Treasury ‘ignored advice’ in public sector pension reforms
Podcast: A report from the Public Accounts Committee about the public sector pensions reform has showed that Treasury ignored advice that could have prevented the McCloud case, argues Ian Neale, co-founder of Aries Insight. He is joined by Sackers partner Claire Carey, in an episode also covering industry consultation fatigue and the new Task Force on Climate-related Financial Disclosures reporting requirements.
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NewsFTSE 350 DB schemes back on track after Covid-19 blow
On the go: The majority of defined benefit schemes from FTSE 350 companies are back on track in terms of their funding goals, after being hit in 2020 by the economic crisis caused by Covid-19, according to research from Barnett Waddingham.
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NewsHigh Court clarifies rules over pension back payment arrears
The High Court has further clarified the procedure for paying arrears when a member has not claimed a back payment within the usual six-year period, confirming that scheme rules will determine whether trustees have discretion as to whether those benefits have been forfeited.
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NewsChurch of Scotland schemes appoint XPS as joint adviser
On the go: The £507.5m Church of Scotland pension schemes, comprising the scheme for ministers and overseas missionaries, the scheme for staff and the scheme for ministry development staff, have appointed XPS Pensions Group as their actuarial and investment adviser.
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NewsGivaudan scheme completes £64m buy-in with Aviva
On the go: The Givaudan UK Pension Plan has completed a £64m buy-in transaction with Aviva, covering the pensioner liabilities for 277 members.
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NewsSchemes urged to hire independent trustees for better governance
On the go: Pension schemes should appoint an independent professional trustee that can help navigate the increasing complexity and risk involved in day-to-day operations, Willis Towers Watson has advised.
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NewsIncreasing numbers of NHS staff opt out of pension scheme
On the go: The number of NHS staff opting out of the health service’s pension scheme rose by 22 per cent last year.
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NewsEastman schemes appoint WTW as fiduciary manager
On the go: The Eastman Chemical Company’s three UK defined benefit pension schemes have selected Willis Towers Watson as their fiduciary manager and awarded a combined actuarial and administration services contract to WTW’s OneDB service.
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NewsIndustry warns against Treasury ‘tax raid’
Experts from across the pensions industry have warned against a rumoured “tax raid” in the autumn budget.
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NewsLPPA streamlines admin systems via switch to Civica’s UPM platform
The Local Pensions Partnership Administration is set to switch to a new pensions administration platform, in a move designed to streamline its arrangements and also help tackle future fraud.
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NewsFears raised of ‘a second major pensions transfer scandal’
Suspicious transfersTrustees fear the industry may be on the cusp of a 'second major pensions transfer scandal'Enterkeywords.sh_embed {position: relative;height: auto;width:100%;z-index: 0;overflow: hidden;background-color: #222;color: white;font-family: 'Lato', 'Helvetica Neue', Helvetica, Arial, sans-serif;}.sh_embed * {-webkit-box-sizing: border-box;-moz-box-sizing: border-box;box-sizing: border-box;}.sh_embed .sh-embed-bg {position: absolute;width: 110%;height: 110%;top: -5%;left: -5%;z-index: -1;background-color: rgba(0,0,0,.8);}.sh_embed #embed_article {display: none;}.sh_embed .sh-embed-img {display: block;zoom: ...
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NewsIndustry focus shifts toward the ‘S’ in ESG
Three quarters of Pensions and Lifetime Savings Association members intend to review their social policy in the coming year, according to its response to the government’s consultation focusing on social risks and opportunities for occupational pension schemes.
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NewsBrunel pool launches first fixed income portfolios
On the go: The Brunel Pension Partnership has launched a passive gilts and a passive index-linked gilts portfolio in conjunction with BlackRock.
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NewsMP tables bill to clarify rules around GMP conversion
On the go: A private members’ bill has been tabled in the House of Commons that aims to amend and clarify existing rules around guaranteed minimum pension conversion.
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NewsRailways scheme appoints L&G as flexible retirement solution provider
On the go: The £32bn Railways Pension Scheme has appointed Legal & General to provide members with access to a drawdown arrangement within its WorkSave Pension Mastertrust.
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NewsCAB International scheme hires Aon as administrator
On the go: The £60m defined benefit section of the CAB International Pension Scheme has hired Aon to provide administration services.
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NewsBespoke funding route could save charities 65% in cash contributions
On the go: Charities could cut their defined benefit cash contributions by between 35 and 65 per cent if they opt for the bespoke option over the fast-track route in the new DB funding code, according to analysis by Hymans Robertson.
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NewsDB pension scam warnings hit 5-month high
On the go: Defined benefit pension scam warnings increased in May to their highest level in five months, according to research from XPS Pensions.
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NewsMore advice needed on ‘fiendishly complicated’ pension freedoms
Pension freedoms have presented members with “fiendishly complicated” choices and providers are being stymied by the blurred line between guidance and advice, a hearing of the Work and Pensions Committee has heard.