On the go: The trustees of the Old British Steel Pension Scheme are considering a buyout for its 31,000 members, due to a better-than-expected funding position achieve while in the assessment period at the Pension Protection Fund.
Music charity leaves Teachers’ scheme to offer benefits symphony
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May 20, 2020
A hike in employer pension contributions has prompted a Birmingham-based charity to leave the Teachers’ Pension Scheme, using the savings from that decision to extend its benefits offering.
PPF creates panel to support trustees with stressed sponsors
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May 18, 2020
On the go: The Pension Protection Fund has established a new panel to support trustees where the scheme’s employer is in stressed or distressed circumstances.
DWP steps in at Lloyds’ GMP past transfers hearing
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May 18, 2020
Government lawyers have dealt a blow to trustees hoping not to have to apply guaranteed minimum pension equalisation to past transfers, branding the argument from Lloyds Banking Group in a high-profile court case “misconceived”.
HMRC admits errors in GMP final data cuts
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May 14, 2020
HM Revenue & Customs has admitted that the data it has asked defined benefit schemes to use for the calculation of members’ guaranteed minimum pensions is outdated, which is expected to delay the project even further and increase costs for pension funds.
Adapting to lockdown: lessons for the future?
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May 13, 2020
With the pensions industry quickly adapting to the Covid-19 lockdown and so far delivering its objectives, are any of its learnings here to stay?
One in five sponsors considering deficit holidays
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May 13, 2020
On the go: Almost a fifth of UK defined benefit scheme sponsors have requested or are considering a deficit repayment contribution holiday, according to research from Isio.
DB deficits fall £7bn in April as equity markets recover
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May 13, 2020
On the go: The aggregate deficit of the 5,422 defined benefit schemes in the Pension Protection Fund 7800 Index fell by £7.4bn in April.
Third of fiduciary managers disappoint in 2019
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May 11, 2020
On the go: New research has revealed the stark differences between best-in-class and stragglers in the fiduciary management market.
BT estimates £500m drop in pension assets value due to Covid-19
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May 8, 2020
On the go: BT has estimated that its defined benefit pension scheme’s unquoted assets portfolio has lost £500m due to the negative impact of the Covid-19 pandemic.