All liabilities articles – Page 12
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OpinionCounting the pension cost
From the blog: Many investors, like most people, do not really understand pensions. While there is now a lot of pension information in financial statements, unless you happen to be sitting next to an actuary it can be a bit of a blur.
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FeaturesNuffield Health scheme boosts security with ABF
Not-for-profit healthcare provider Nuffield Health has entered into an asset-backed funding arrangement for its £377.1m defined benefit pension fund, as schemes continue to secure benefits with tangible goods.
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OpinionWhat charities can do to address DB affordability
When it comes to addressing the affordability of charity defined benefit pension funds, Ruth Bamforth at Walker Morris recommends a proactive and open approach.
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FeaturesEDP valuation finds liability overstatement
The £7.8m Electronic Data Processing scheme has avoided a £420,000 addition to its liabilities, after a finalised actuarial valuation corrected an overstatement for certain deferred members.
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OpinionRate rises are not the solution for DB woes
From the blog: After its meeting on September 14, the Monetary Policy Committee issued its strongest guidance yet that it expects to raise interest rates from their historic 10-year low.
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Features
What can pension schemes learn from insurers?
Analysis: Prudent liability management features among the priorities of pension funds and insurers alike. Experts have previously called upon investors to think more like insurers, but differences in objectives, regulatory requirements and scale mean that total strategic convergence between schemes and insurers is unlikely.
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FeaturesScapa sticks to risk management strategy with Pie
Adhesive tape manufacturer Scapa has carried out a pension increase exchange exercise, in its latest move to manage the cost and risk of its legacy defined benefit scheme.
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Features
Deficits have dropped, but how should schemes react?
Analysis: While there has been a recent improvement in defined benefit pension fund deficits, market volatility, weak covenants and increasing longevity mean trustees should continue to keep a tight rein on risk and cost management.
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News
Employers urged to actively manage covenant
Employers and schemes must take a more active approach to managing their pension liabilities to improve covenant strength, experts say.
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News
Increased use of RAAs is 'inevitable', experts say
The Pensions Regulator has agreed a regulated apportionment arrangement with Hoover, as experts say the number of RAAs, as well as the amount of due diligence involved, is likely to increase.
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Features
IMI derisks with buy-in and Pie
Specialist engineering company IMI has completed a pension increase exchange exercise and a buy-in, as trustees become more comfortable with liability management measures.
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News
Government's s75 proposals are a 'missed opportunity'
Experts have welcomed the government’s recent consultation proposing a new deferred debt arrangement for employers in multi-employer pension schemes, but concerns over complexity of employer debt regulation remain.
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FeaturesLeonardo scheme ups hedge after Care switch
The Leonardo Electronics Pension Scheme has adapted its liability hedging strategy to reflect the career salary benefit changes implemented last year to reduce risk and costs.
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FeaturesMore pensioners to be offered Pie at Metal Box
The Metal Box Pension Scheme is planning to offer a pension increase exchange to more pensioner members this year, having offered one to some members in 2015.
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FeaturesBAE Systems' Airbus section ready for take-off
British defence giant BAE Systems has created a new scheme section for Airbus employees, to increase transparency while giving direct responsibility to the companies involved.
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OpinionWhat to bear in mind with asset-backed funding
Simon Daniel from Eversheds Sutherland weighs up the pros and cons of entering a Scottish limited partnership.
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OpinionHow should DB funding be measured?
Schemes should make the discount rate a function of the investment strategy rather than vice versa, says JP Morgan Asset Management’s Sorca Kelly-Scholte.
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NewsDairy Crest churns up a new investment strategy
The Dairy Crest Pension Fund has derisked while restructuring its investment portfolio by moving away from UK investment grade credit and ‘going global’, as schemes continue to reassess the purpose of their credit exposures.
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News
Trustees overlook strategic objectives due to deficit distraction
Deficits distract the majority of trustees from focusing on the ultimate goal of paying members’ pensions, recent research has found, but some experts highlighted the role of covenant strength and scheme size in deciding where the priority should be.
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OpinionWhich investments can cash flow negative schemes turn to?
Schemes paying out more than they receive could benefit from investing in assets where cash flow is secured by contract, argues Insight Investment’s Steve Aukett.