All Defined benefit articles – Page 97
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News
TPR warns trustees ‘can’t duck’ from climate change
On the go: As new reporting requirements on environmental, social and governance considerations come into force, the Pensions Regulator has warned trustees to build capacity in this area as climate change is a fundamental consideration for schemes.
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LGPS wades into Israel-Palestine row with UN blacklist engagements
At least two Local Government Pension Scheme funds are undertaking engagements with companies linked to contested Israeli settlements, Pensions Expert can reveal.
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Aon warns USS consultation could confuse employers
Aon has warned that the consultation document presented by the trustee of the Universities Superannuation Scheme will be of only limited use to employers, and may leave some unable to make vital decisions.
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Over-50s alter retirement plans in response to Covid-19
On the go: One in eight older workers have changed their retirement plans due to the coronavirus, according to the Institute for Fiscal Studies, which warned that a third are now in a worse financial situation than they were in before.
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Should ‘too-big-to-fail’ schemes be nationalised?
Analysis: The current pandemic-led economic crisis, coupled with the fact that some of the biggest defined benefit schemes are sponsored by quasi-governmental institutions, has led to suggestions that the UK government should nationalise these pension funds.
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PPF sets levy at £520m for 2021-22
On the go: The Pension Protection Fund has set its levy at £520m for 2021-22, which is £100m lower than the previous year.
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OpinionPrivate sector consolidators can learn from LGPS pooling
The Pensions Regulator has given the green light for the establishment of the first private superfunds, but the consolidation of multiple pension schemes is not a simple task. Local Pensions Partnership chief executive Chris Rule explores some lessons of pooling.
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TPR investigates DRC holiday abuse
On the go: The Pensions Regulator is investigating a number of companies’ pension schemes for allegedly taking advantage of a relaxation in the deficit repayment contribution rules due to the pandemic.
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OpinionNot-for-profit sector schemes should consider more specialist approach
Buck’s Vishal Makkar on how the not-for-profit sector’s idiosyncrasies demand a specialist approach to pension funding and investment.
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Cheshire in the vanguard on TCFD carbon revelations
The Cheshire Pension Fund is one of the first UK pension funds to report on the carbon footprint of its £6.1bn investment portfolio, estimating that its stock portfolio’s carbon intensity is a third less than the benchmark.
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Smiths Group completes £142m buy-in with Aviva
On the go: Smiths Group, an industrial technology company, has completed a £142m buy-in transaction with Aviva for the TI Group Pension Scheme.
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PodcastsPodcast: Arguments for DC consolidation stronger than for DB
Podcast: The pace of defined contribution consolidation could accelerate on the other side of the coronavirus pandemic, but mergers are a less obvious boon for define benefit, say Squire Patton Boggs partner Kirsty Bartlett and Hadassah Shulman, senior associate at Taylor Wessing.
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Border to Coast appoints multi-asset credit managers
On the go: Border to Coast Pensions Partnership has appointed four specialist managers for its multi-asset credit fund, which will have assets worth £2.7bn.
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Govt consults on auto-enrolment tests for DB and hybrid schemes
On the go: The Department for Work and Pensions is questioning whether the current alternative tests used by defined benefit and hybrid schemes for auto-enrolment suitability are fit for purpose.
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Scheme members wait on up to £25,000 from GMP equalisation
On the go: Some defined benefit scheme members could still be waiting on payments of up to £25,000 resulting from guaranteed minimum pension equalisation, according to research by XPS Pensions.
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Eviction ‘holiday’ poses threat to schemes’ property investments
The government’s extension of a measure designed to provide relief to struggling tenants could adversely affect pension scheme property investments, especially where the scheme acts as a landlord, experts have warned.
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Redundancies cause threefold rise in member requests at BA
Redundancies at British Airways coupled with members’ concerns about the security of their pensions have significantly increased the workload of its administration team, which has prompted the schemes to set up a communication plan to deal with the issue.
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Barclays Bank coughs up £750m in unusual DRC move
In an unusual arrangement, Barclays Bank UK Retirement Fund’s deficit recovery plan remains on track through a self-investment, as the scheme subscribed to a £750m bond issued by an entity of the banking group.
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DB pension scheme at centre of bidding war for G4S
On the go: A private equity firm, which saw its £3bn takeover proposal rejected by G4S, has complained that it is not being granted access to the security services company’s defined benefit scheme trustees.
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OpinionTrustees need to up their game to protect member journey
Trustees should up their game when it comes to contingency planning and member communications, as 90 per cent of schemes that have entered assessment at the pensions lifeboat fund could be better prepared, writes Helen Beckinsale, panel service manager at the Pension Protection Fund.