All Defined benefit articles – Page 81
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News
DB transfer values recover after February fall
On the go: Defined benefit transfer values increased in March to recover around a third of the drop seen in February, according to figures from XPS Pensions Group.
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Dashboards milestone reached as PDP looks for architecture supplier
On the go: The Pensions Dashboards Programme has issued an invitation to tender for a supplier to provide digital architecture.
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PodcastsPodcast: Treasury admin fund could help tackle McCloud
Podcast: The Treasury should create a fund to help schemes cope with the administrative load of the McCloud remedy. So says Ray Martin, director at HS Sole Trustees, who is joined by Pensions Administration and Standards Association chair Kim Gubler to discuss TPR’s new climate change agenda, the NAO’s warning about the burdensome McCloud judgment, and a bizarre proposal for a national pension fund.
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NewsOmbudsman sides with Pilots’ trustee on accrual rate changes
The Pensions Ombudsman has sided with the trustee of the Pilots’ National Pension Fund in its move to change the scheme’s benefits accrual rate, noting that the decision was reached “following a reasonable decision-making process”.
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UK DB scheme surplus rises £19.6bn in March
On the go: The aggregate surplus of the 5,318 defined benefit schemes in the Pension Protection Fund 7800 Index has increased by £19.6bn in March.
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NewsAon criticises USS valuation assumptions as ‘overly prudent’
Aon has criticised the methodology and assumptions underlying the Universities Superannuation Scheme trustee’s response to the USS valuation, accusing it of being overly prudent and failing to properly justify several of its assumptions.
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News
BT, Ford and M&S schemes seek judicial review on RPI changes
On the go: The trustees of BT, Ford and Marks and Spencer pension schemes announced on Friday that they are seeking a judicial review of the decision to replace the retail price index with the consumer price index including housing costs from 2030.
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NewsBridging pension option smooths Rolls-Royce scheme restructure
The introduction of a bridging pension option in the Rolls-Royce UK Pension Fund has helped smooth the transition for its members following a scheme restructure announced in May 2020.
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Calls for government to review minimum pension age hike
On the go: Wealth manager Quilter has called on the government to reverse proposals to raise the normal minimum pension age to 57, saying the move is complex and will do little for people’s retirements.
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News
Opperman warns on pension scams rise in new tax year
On the go: Pensions minister Guy Opperman has warned savers to be vigilant when reviewing their retirement plans to avoid being caught out by pension scammers operating online.
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News
Independent schools’ TPS phased withdrawal to start in August
On the go: Independent schools will be allowed to gradually phase out their participation in the Teachers’ Pension Scheme, with the new regulations coming into force in August.
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News
Industrial action threats in response to new USS employer consultation
On the go: The University and College Union has once again hinted that industrial action may be called for after accusing Universities UK of failing to stand up for members.
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NewsUUK consults on way out of USS valuation wrangle
Universities UK, the employer group representing 340 Universities Superannuation Scheme employers, has opened a consultation on a range of measures intended to settle the long-running feud over the 2020 USS valuation.
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NewsTPR to beef up schemes’ climate change disclosure demands
The Pensions Regulator will demand that trustees add more climate change information to their scheme returns, and has promised enforcement action where pension funds do not comply with basic requirements.
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News
Association of British Insurers completes £26m buy-in
On the go: The Association of British Insurers Pension & Assurance Scheme has completed a £26m buy-in with Aviva.
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News
Experts dismiss national pension fund proposal
Analysis: Experts have largely poured scorn on a highly controversial proposal to create a gigantic national sovereign fund by merging public schemes and then mopping up private plans as well.
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News
PASA rejects single provider approach to dashboards digital identity
On the go: The Pensions Administration Standards Association has objected to the proposal by the Pensions Dashboards Programme for a “central digital identity”, arguing that it would create a “single point of failure”.
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News
Nest looks to allocate 5% of assets to private equity
On the go: Government-backed master trust Nest is looking to work with private equity managers who are prepared to cut fees in return for a regular capital stream from the UK’s largest workplace pension scheme.
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News
Shepherd Foods completes £3m buyout with Aviva
On the go: The Shepherd Foods (London) Limited defined benefit pension scheme has completed a £3m buyout with Aviva Group.
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News
New reporting requirements for trustees to prevent pension scams
On the go: The Pension Scams Industry Group has updated its code of good practice on combating pension scams, making new recommendations to trustees.