The AIB Group UK Pension Scheme has entered into a £250m insurance contract to hedge the investment risk associated with a portion of its liabilities, becoming the first defined benefit plan to undertake an alternative derisking solution.
DB deficit increases over January
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February 12, 2020
On the go: The aggregate deficit of the 5,422 defined benefit schemes in the Pension Protection Fund 7800 Index rose by £63.8bn in January.
ESG amendments to give govt ‘unprecedented new powers’
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February 12, 2020
The Pensions and Lifetime Savings Association has warned that government bodies will have “unprecedented new powers” to interfere in pension scheme investment strategies if an amendment to the pension schemes bill is passed.
TPR promises more regulatory action on ESG
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February 11, 2020
On the go: The Pensions Regulator has promised more action on pension schemes’ environmental, social and governance practices, rejecting accusations that it is a laggard in this area among UK regulators.
Webb urges experts to lobby Lords for pension schemes bill changes
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February 11, 2020
On the go: Former pensions minister Sir Steve Webb has urged pension specialists to lobby the House of Lords for changes in the pensions schemes bill, warning that it will pass through the House of Commons unchanged.
TPR to test trustees’ knowledge in bid to improve governance
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February 10, 2020
The Pensions Regulator plans to conduct checks on trustees’ knowledge to assure governance standards in the industry, and has promised to consider appropriate action where they fall below expectations.
Pension schemes make limited allowances for RPI changes
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February 7, 2020
On the go: Large pension schemes are not expecting a great impact from proposed changes to the retail price index, with limited allowances included in their sponsors’ 2019 accounts, according to Willis Towers Watson.
Industry questions regulators misalignment on chair statements
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February 6, 2020
Analysis: Industry experts have questioned why regulators have taken different approaches when it comes to the disclosure of funds costs and charges in chair statements.
High Court rules against pension indexation change
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February 6, 2020
On the go: An IT company has seen the High Court dismiss a request to change the indexation used to uprate benefits in its final salary scheme to the consumer price index.
TPR carries out auto-enrolment checks on large employers
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February 5, 2020
On the go: The Pensions Regulator is carrying out compliance spot checks on some of the UK’s largest employers, who were among the first required to comply with auto-enrolment in 2012.
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