Weir Group established a Scottish Limited Partnership with the trustee of its main defined benefit scheme last year, allowing the group to reduce its deficit recovery payments while adding to the security of members’ benefits.
GKN continues derisking with £53m buy-in
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April 4, 2016
Global engineering group GKN signed off a second pensioner buy-in during 2015, insuring an additional £47m of pensioner liabilities, as part of a broad strategy to manage asset and liability risk as the group’s UK schemes mature.
Johnston Press longevity study cuts deficit by £53m
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April 4, 2016
Regional publishing group Johnston Press has cut its IAS 19 deficit by £63m in the past year, with close to 85 per cent arising from changes to the mortality assumptions.
4imprint hits home straight with buy-in conversions
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March 28, 2016
Trustees of 4imprint’s defined benefit pension scheme have reached agreement to convert two previous buy-in arrangements to a buyout, as the US-focused company looks to tackle its UK legacy obligations.
Northern Ireland Assembly latest to join public sector pensions reform push
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March 28, 2016
Members of the Northern Ireland Assembly will be subject to significant changes to their pensions from May 5, in line with cost-saving efforts across the UK public sector.
RBS decision to pass on £18m NI costs to members 'unsurprising'
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March 21, 2016
Members of the Royal Bank of Scotland’s defined benefit pension scheme will foot the bill for the £18m rise in the bank’s national insurance contributions at the end of contracting-out, raising the question of whether this practice could become the norm.
What a move to CPIH could mean for UK pension schemes
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March 21, 2016
Analysis: Momentum is gathering behind a move to CPIH as the preferred government measure, but what would such a shift mean for pension fund benefits and liabilities?
Long-term saving solution continues to elude pensions industry
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March 18, 2016
Missed by many amid the Budget’s pomp and circumstance, the summary of responses to the government consultation – ‘Strengthening the incentive to save’ – contains a resounding call for stability but no clear solution to the nation’s savings crisis.
FAMR recommendations seek to shore up guidance gap
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March 14, 2016
HM Treasury and the Financial Conduct Authority have released a raft of recommendations in the bodies’ review of the financial advice market, but industry commentators have said “tighter and more ambitious timescales” are required to make the pensions dashboard a reality.
Barclays scheme probes impact of ringfencing
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March 14, 2016
Barclays is assessing which of its entities will participate in the bank’s UK Retirement Fund from 2026, when ringfencing regulations become fully effective, as schemes across the sector face up to complex covenant questions.