All Defined benefit articles – Page 90
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PodcastsPodcast: Timms calls for pension transfer rules change
Podcast: The current law governing transfers is not fit for purpose and there are too many bodies involved in handling pension scams, according to Work and Pensions Committee chair Stephen Timms.
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News
First UK Bus hikes deficit payments to £33m after TPR intervention
On the go: Intervention by the Pensions Regulator has resulted in First UK Bus increasing deficit repair contributions to its defined benefit scheme from £18m to £33m a year.
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OpinionMaking your pension scheme investments count
While considering that pension schemes are not philanthropists, Impact Investing Institute chief executive Sarah Gordon believes pension funds should invest in businesses that deliver positive impact, as these are more likely to produce genuinely sustainable profit streams.
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News
Most savers unaware of schemes’ climate change endeavours
On the go: Three-fifths of workplace pension members do not know if their scheme is taking any action to combat climate change, according to a survey by the Pensions and Lifetime Savings Association.
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News
Schemes’ industry investments lag behind climate targets
On the go: Pension schemes with investments in heavy industry like steel, cement, aluminium and paper are likely to find them lagging behind the Paris agreement’s targets, with 86 per cent failing to align with a pathway to “2C or below by 2050”.
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News
Deutsche Bank Pension Scheme completes buy-in
On the go: The £4.5bn Deutsche Bank (UK) Pension Scheme has entered into a buy-in agreement with Legal & General Retirement Institutional.
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NewsOpinion split on Pension Schemes Act implications
A survey carried out as part of a webinar by law firm Sackers has laid bare a deep divide in the industry over powers afforded by the Pension Schemes Act.
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News
Schemes should not ‘mindlessly chase’ illiquidity premium
On the go: The chief investment officer of the £19bn Local Pensions Partnership has criticised asset managers promising unrealistic returns from illiquid assets, arguing that they no longer provide the same premium they once did.
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News
Industry calls on HMRC to help solve GMP tax issues
On the go: Although welcoming the new guidance from the Pensions Administration Standards Association on guaranteed minimum pensions equalisation tax issues, industry voices are calling for more collaboration from HM Revenue & Customs as several problems remain unsolved.
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News
Arcadia schemes could have enough assets to survive outside PPF
On the go: Arcadia pension scheme members could receive a greater portion of their savings after a string of property and infrastructure sales raised enough capital to bring them out of the Pension Protection Fund.
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News
Schemes still lagging in fight against cyber crime
On the go: Three in five schemes now have a cyber strategy and 75 per cent of trustees have some degree of training on cyber risks, according to Aon’s most recent cyber scorecard.
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News
TPR pledges guidance after royal assent for Pension Schemes Act
On the go: The Pensions Regulator welcomed the Pension Schemes Act receiving royal assent on Thursday, with chief executive Charles Counsell looking forward to the “strong package of measures” it provides and pledging guidance for how they will be used.
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NewsNormal minimum pension age set to increase to 57 in 2028
HM Treasury outlined plans on Thursday confirming the government’s intention to raise the normal minimum pension age from 55 to 57 in April 2028, while devising a “protection regime” that ensures some scheme members retain their current rights.
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News
DB schemes to see £1tn of liabilities insured by 2031
On the go: Defined benefit schemes are expected to see £1tn of risk insured by buy-ins, buyouts and longevity swaps by the end of 2031, according to new analysis.
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NewsBorder to Coast expands green infrastructure investment
Several pension funds, including the Local Government Pension Scheme pool Border to Coast, have provided the majority of the funding for a new €1.6bn (£1.4bn) renewable energy investment fund launched by the Macquarie Infrastructure and Real Assets.
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News
Mowlem scheme completes buyout and exits PPF
On the go: The Mowlem (1993) Pension Scheme has entered into a £150m buyout transaction with Legal & General Assurance Society, securing benefits outside of the Pension Protection Fund.
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News
USS extends Capita administration contract
On the go: Capita Pensions has been awarded a five-year contract extension by the Universities Superannuation Scheme to deliver pension system and administration support.
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News
DB deficits fall £21.4bn in January
On the go: The aggregate deficit of the 5,318 defined benefit schemes in the Pension Protection Fund 7800 Index fell by £21.4bn in January.
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NewsJudicial review could hold up public sector exit payment reform
The High Court is to hear challenges brought by a number of public sector unions to the £95,000 exit payment cap, after permission for a judicial review was granted late last year.
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News
RPI reform boosts inflation hedging
On the go: The announced reform of the retail price index, to match the consumer price index including housing costs, saw inflation hedging rise by six per cent quarter on quarter at the end of September 2020.