On the go: Changes to mortality assumptions have played their part in pushing the net public sector pension liability up by 15.6 per cent between the 2018-19 and 2019-20 periods, reaching almost £2.2tn.
Bedfordshire pools academy liabilities in bid to cut volatility
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June 5, 2022
The £2.76bn Bedfordshire Pension Fund’s committee has agreed to create a pool for its academies’ pension liabilities, in a bid to reduce the volatility caused by members entering and exiting the scheme.
Providers urge earlier introduction of Pension Wise ‘nudge’
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June 1, 2022
On the go: The Financial Conduct Authority’s new rules guiding customers to use Pension Wise before drawing down their pension, which came into force on June 1, have been criticised as “poorly timed and mismanaged” by one provider.
USS plans funding review as deficit drops to £1.6bn
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May 31, 2022
The £88.8bn Universities Superannuation Scheme has teased the possibility of increasing benefits and cutting contributions, after its latest review revealed a markedly improved funding position.
CHC scheme trustees warn CMA of ‘seriously detrimental’ sale
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May 30, 2022
The trustees of the £181.2mn CHC Scotia Pension Scheme have told the Competition and Markets Authority that its recent intervention risks being “seriously detrimental to the interests of the scheme and its members”.
TPR predicts improvements in funding levels
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May 27, 2022
Pension schemes with recent valuation dates are expected to achieve improved funding levels, the Pensions Regulator has predicted, while many schemes in deficit should be able to maintain or reduce deficit repair contributions.
New SPP president targets DC outcomes
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May 27, 2022
The Society of Pension Professionals’ new president, Steve Hitchiner, has demanded greater focus on outcomes for defined contribution scheme members.
Water Companies scheme trustee stands firm over surplus transfer
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May 19, 2022
David Sankey, chair of the £710mn Water Companies Pension Scheme, has assured MPs that the trustee has fulfilled its duties with respect to the planned transfer of the Bristol Water section’s surplus to its sponsor.
Brookfield to safeguard HomeServe DB pensions in £4bn deal
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May 19, 2022
On the go: Canadian asset manager Brookfield has said that it will retain repair business HomeServe’s current defined benefit pensions arrangements, following the announced agreement of a £4bn takeover of the company.
Capita Pensions Solutions narrows 2020 losses with restatement
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May 18, 2022
On the go: Capita Pensions Solutions has cut its 2020 pre-tax losses by £200,000 after revenues and costs from a 2017 contract were retrospectively recognised in its income statement.