All Defined benefit articles – Page 87
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NewsBA signs 'first of its kind' £21bn deal with BlackRock
The trustees of the British Airways pension schemes have signed a deal with BlackRock that places the investment management company in charge of the day-to-day management of more than £21bn of assets.
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NewsTUI pension schemes agree £800m buy-ins with L&G
On the go: The circa €2.4bn (£2.1bn) TUI Group UK Pension Trust, comprising the BAL Scheme, TUI UK Scheme and TAPS Scheme, has secured two buy-ins worth around £800m with Legal & General Assurance Society.
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NewsGovt fixes NHS scheme rules to avoid hefty retirement bills
The government is to amend regulations to the NHS Pension Scheme that has seen hundreds of employers, including GPs, hit with charges for staff members who are in the last three years prior to retirement, which could amount to hundreds of thousands of pounds.
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NewsDB transfers hit by pandemic and rule changes
On the go: Cash equivalent transfer values have been significantly impacted by both the coronavirus pandemic and shake-up of defined benefit transfer advice rules, according to Barnett Waddingham.
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NewsTfL to review pension scheme as part of new funding package
On the go: Transport for London will be conducting a review of its £10.6bn defined benefit scheme as part of a new government package.
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NewsUCU mulls industrial action as USS sponsors reject benefits modelling
The University and College Union has said it is to decide “in the coming days” whether to press ahead with industrial action after its newly released ‘benefits modeller’, aiming to show how much members stand to lose under controversial proposals by the Universities Superannuation Scheme, was dismissed by employer representatives.
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NewsFirstGroup shareholders approve pension black hole solution
On the go: Shareholders of transportation company FirstGroup have approved the sale of two subsidiaries, with the profits being used in part to fund a black hole in its defined benefit schemes
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NewsTPR: Trustees must ‘improve their understanding’ of liquidity risks
On the go: Trustees need to improve their understanding of liquidity risks and do more to monitor and mitigate against them, the Pensions Regulator has said.
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NewsWyeth Group scheme secures £190m buy-in with Aviva
On the go: The circa £446.9m Wyeth Group Pension and Life Assurance Scheme, which includes both defined benefit and defined contribution sections, has completed a £190m annuity buy-in transaction with Aviva.
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NewsMaster trusts to pave the way for dashboards integration in 2023
Master trusts and pension providers regulated by the Financial Conduct Authority will be the first schemes to provide data for the pensions dashboards in 2023, according to a new call for input published on Thursday.
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NewsAIB signs £61m buy-in with L&G after pioneering derisking solution
On the go: The £1.1bn AIB Group UK Pension Scheme has agreed a £61m deal with Legal & General Assurance Society that will see a tranche of an existing assured payment policy converted into a buy-in policy.
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NewsTPR looks to clarify new contribution notice tests
On the go: The Pensions Regulator has called for the pensions industry to give its views on the application of new contribution notice tests stemming from the Pension Schemes Act.
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PodcastsPodcast: Police officers let down by poor McCloud communication
Podcast: Police officers, who have complained about the ramifications of the government’s McCloud remedy, face a difficult battle to get their plight rectified, in another case where inadequate policy and communications has created damaging uncertainty for members. Quietroom development lead Joe Craig and Taylor Wessing senior associate Hadassah Shulman discuss this case, as well as simpler annual statements and the government’s anti-scam proposals.
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NewsTPR urges trustees to remain vigilant of sponsor activity
The Pensions Regulator has used its latest annual funding statement to call for trustees to remain vigilant of weakening employer covenants and corporate activity, while laying out guidance on how to approach scheme valuations under the current challenging conditions brought by the pandemic.
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OpinionThe winding road to a straight answer
Stephen Lowe, group communications director at Just Group, would like to get some straight answers to the Work and Pensions Committee’s inquiry on why guidance is still not the norm when savers make use of pension freedoms.
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NewsWR Swann pension scheme appoints fiduciary manager
On the go: The £40m defined benefit scheme for WR Swann, part of Swann-Morton, a Sheffield-based manufacturer of surgical equipment, has appointed Aon as its fiduciary manager.
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NewsFiduciary managers survive Covid scare with strategies intact
On the go: Most fiduciary managers had positive returns in 2020 without needing to change their investment strategies in light of the Covid-19 pandemic, analysis from XPS has shown.
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NewsOmbudsman gives providers a month to update transfer processes
The Pensions Ombudsman expects pension providers to update their transfer processes, due diligence checks and member communications within one month of the new scams regulatory guidance being issued.
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NewsFTSE 100 scheme funding stays flat despite £200bn contributions
On the go: FTSE 100 companies have seen the funding position of their defined benefit schemes remain broadly unchanged since the financial crisis, despite sponsor contributions of more than £200bn, a report by LCP has shown.
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OpinionThe defined benefit trustee cost challenge
Isio director Iain McLellan details how defined benefit scheme trustees should spend their increasingly constricted budgets to ensure good governance, and why sponsors should invest in their own scheme’s trustee board.