Axa is reviewing its UK defined benefit scheme after identifying it as “one of the biggest risks to the business”, citing higher national insurance costs from the abolition of contracting-out as one of the factors in its decision.
Uni picks cash balance for AE to limit longevity risk
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March 25, 2013
The University of Sheffield will offer a cash balance scheme to employees auto-enrolling from next month, in a conscious decision to steer away from defined contribution while managing its longevity risk.
Mastertrusts plan self-service to beat capacity crunch
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March 21, 2013
Some of the UK’s largest mastertrusts are hoping to free up resources during the peak of auto-enrolment next year by developing a “self-serve” proposition that will allow employers to set up their schemes online.
Budget 2013: What it means for pension schemes
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March 20, 2013
Today's Budget ruled out asset and liability smoothing, created an employer growth objective for the Pensions Regulator and brought forward the hit on defined benefit schemes of the lost contracting-out rebate.
SMEs search for 'standout' benefit beyond auto-enrolment
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March 19, 2013
Smaller employers are starting to think more creatively about the benefits they offer staff in response to fears that pensions may no longer be viewed as a "standout" benefit after auto-enrolment, according to consultants.
Regulator: UK Coal debt-for-equity swap ‘rare occurrence’
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March 15, 2013
The recent restructuring at UK Coal, which saw its pension schemes take a three-quarter stake in its property division, is unlikely to set a precedent for future cases, according to the Pensions Regulator’s executive director for defined benefit regulation.
BHP reassures members over possible asset sale
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March 14, 2013
Resource company BHP Billiton’s pension scheme has told members the possible sale of UK assets by its sponsoring employer will have no impact on the level of their benefits, after plans to explore the option were revealed.
British Steel backs defensive strategy to close deficit
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March 12, 2013
British Steel Pension Scheme has told members that its defensive investment strategy will help close its £1.5bn funding gap, after an annual update revealed its funding level had dropped by six percentage points in a year.
BBC: Financial management plan 'commonsense'
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March 8, 2013
The BBC Pension Scheme is to introduce a financial management plan bringing together information and advice on investment, covenant and actuarial activities, its director of pensions investments told the National Association of Pension Funds' 2013 investment conference yesterday.
Edinburgh University uses payslips and roadshows to launch auto-enrolment
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March 4, 2013
One of the UK’s leading universities has taken innovative steps to inform employees about auto-enrolment, including writing messages on payslips and conducting roadshows as part of a “concerted campaign” to engage staff.