All inflation articles – Page 7
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News£450bn of inflation-linked liabilities remains unmatched
On the go: Some £450bn of inflation-linked liabilities belonging to defined benefit schemes remains unmatched due to a shortage of long-dated gilts, according to analysis by Alpha Real Capital.
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NewsAltmann calls on peers to block triple lock scrap
On the go: The government’s plan to suspend the triple lock could be blocked in the Lords on Tuesday amid concerns that pensioners will struggle against rising living costs.
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OpinionIs real estate a good inflation hedge for pension schemes?
With inflation hikes presenting an added risk to defined benefit schemes, some assets in the real estate market can provide a protection to the surge in prices, writes Paul Stewart, head of European research and strategy at Barings Real Estate.
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NewsBudget: Govt not expecting tax relief take-up and millions for McCloud
Pensions Expert’s roundup of the key figures from the Autumn Budget: the government assumes most people will not claim their net pay tax relief top-up, £10m has been set aside to help administer increasingly complex McCloud tax arrangements, and the Goodwin remedy could end up costing £3bn. However, savings have been made from the double lock and state pension overpayment revisions.
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NewsInflation and Covid uncertainty temper PPF performance
Inflation is one of a number of concerns for the Pension Protection Fund, with post-Covid uncertainty tempering reaction to an otherwise positive set of results released in its annual report published on Monday.
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NewsState pension to rise by 3.1% in April as inflation dips slightly
On the go: The UK state pension is set to increase by 3.1 per cent in 2022-23, in line with September’s inflation figure.
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NewsFTSE 100 DB surplus not immune to funding code and inflation shocks
On the go: FTSE 100 defined benefit schemes' positions grew again in Q3, with the post-pandemic recovery leaving their combined IAS19 surplus at £50bn. But LCP has warned that inflation, coupled with stricter rules under the new defined benefit funding code, could still do damage.
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PodcastsPodcast: No way to avoid the indexation ‘rules lottery’ as inflation bites
Podcast: High inflation will spur more schemes to look to switch from the retail price index to the consumer price index, but there is still no way around the “rules lottery”. Eversheds Sutherland partner Stuart Earle and Aon partner Lynda Whitney discuss inflation, the botched attempt to raise the normal minimum pension age, and a new value for money framework.
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NewsRoyal Mail CDC scheme closer to reality as consultation launches
Royal Mail has launched a consultation on its new collective defined contribution scheme, detailing the structure of the new pension fund, which the postal company is aiming to launch in 2022.
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NewsDB schemes faced with £46bn in extra liabilities as inflation spikes
On the go: Defined benefit schemes were hit by a £46bn spike in liabilities in September due to the fall in net interest rates, following the biggest hike in consumer prices since 1997 in August, according to analysis from XPS Pensions Group.
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NewsInflation jump poses ‘a real challenge’ for pension schemes
The surge in inflation in August – the highest since records began in 1997 – could prove “a real challenge” for pension schemes, experts have warned, especially if it proves not to be a transitory phenomenon.
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NewsTriple lock suspension unpopular but fair, says industry
On the go: By suspending the wages element of the pensions triple lock the government has remained fair to both pensioners and taxpayers, although the former is likely to be disappointed, industry experts have said.
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NewsDB schemes exposed to £200bn in losses due to inflation-linked returns
On the go: Defined benefit schemes are exposed to £200bn in losses from inflation strategies as index-linked gilts reach record high prices, new research has shown.
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NewsState pension: Triple lock earnings link suspended for 1 year
On the go: The government has suspended the wages element of the pensions triple lock to avoid a disproportionate rise in the state pension following the pandemic.
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NewsFTSE 350 DB schemes’ deficit rises £2bn in August
On the go: Defined benefit schemes sponsored by FTSE 350 companies saw their deficits rise to £87bn in August, an increase of £2bn from £85bn in July.
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NewsEY fined £3.5m for Stagecoach pension audit failings
EY has been fined £3.5m and given a “severe reprimand” by the Financial Reporting Council, in part for failing to meet requirements when auditing Stagecoach’s defined benefit scheme obligations.
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NewsSavers can have flexibility while staying in DB schemes, says LCP
On the go: Defined benefit members do not need to transfer out of their schemes to be able to gain more flexibility, as this can be achieved through a pensions increase exchange or a bridging pensions option, a new report from LCP claims.
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NewsActuaries propose changes to public sector pension increases
The Association of Consulting Actuaries is calling on the government to change the way it calculates pension increases for unfunded public sector schemes, proposing that these are based on economic growth rather than inflation, as this would be “fairer” for future generations of taxpayers.
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NewsState pension ‘too low’ to scrap earnings link
On the go: With the state pension still below the 1979 level relative to earnings, it would be unwise for the chancellor to drop the triple lock earnings link, Baroness Ros Altmann has warned.
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NewsGenerations divided over triple lock reform
On the go: There is a large generational divide when it comes to keeping the triple lock in its current form, with the over-fifties more keen for it to stay than younger people.