All liabilities articles – Page 13
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OpinionPartial transfers would bring more choice into DB
From the blog: While many people have been rushing recently to cash in their final salary pensions, others are still torn between sticking with a guaranteed income and transferring all of their benefits.
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News
From RAAs to hedging: Top DB and derisking stories from 2016
Year in review: 2016 was the year the dam finally broke and defined benefit funding issues jumped into the mainstream news, with stories such as Tata Steel and BHS’s funding woes striking a chord.
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FeaturesReuters scheme simplifies strategy in liquidity search
As part of a push to simplify its asset allocation and achieve greater liquidity, Reuters Pension Fund is exiting its property investments, putting some of the proceeds into a new buy-and-maintain mandate and an existing diversified growth fund.
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News
'Unconflicted' MNTs have a place on trustee boards, experts say
Communicating complicated legislative changes, focusing on defined contribution governance and protecting members’ benefits are just a few of the challenges faced by trustee boards.
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NewsCBI requests reforms to ease DB burden on businesses
The Confederation of British Industry has called for a number of reforms to help tackle the problem of pension costs for companies, including access to illiquid assets and approaches to measuring deficits.
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News
TPR and PPF call for muscular regulation
Both the Pensions Regulator and the Pension Protection Fund have called for more wide-ranging, interventionist regulation of defined benefit schemes, evidence published by the Work and Pensions Committee has this week shown.
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FeaturesStrathclyde earmarks £750m for MAC and private debt
The Strathclyde Pension Fund has made large allocations to both private debt and multi-asset credit as it looks to take advantage of the growth in non-bank intermediaries.
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NewsQuestions surround Bernard Matthews sale as PPF prepares to step in
Turkey producer Bernard Matthews has gone into administration, with the pension scheme expected to enter the Pension Protection Fund assessment period, but questions remain as to why the scheme was allowed to fail.
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Features
PPF deficit figures presage hard times for funding and dividends
Analysis: Following the Pension Protection Fund’s news of yet another record deficit in defined benefit pensions, many schemes can expect to gear up for challenging funding negotiations, amid growing fears for company dividends.
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FeaturesCAF exits multi-employer scheme to set up own fund
The Charities Aid Foundation has withdrawn from a multi-employer defined benefit pension plan and established a new DB scheme, removing its exposure to other employers’ pension liabilities.
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Features
Phoenix Group opts for second helping of Pie
Phoenix Group’s PGL Pension Scheme has completed a pension increase exchange exercise, but despite only wiping £3m off liabilities, the company says the exercise met pre-implementation expectations.
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Opinion
Summer is passing, but the heat is rising...
Editorial: August is drawing to a close, and here at Pensions Expert we’re gearing up to return to our normal print schedule. We’ll be back in print from the September 5, and we won’t be short of things to write about.
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News
Hounslow commits £100m to multi-asset income
The London Borough of Hounslow Pension Fund has introduced a £100m allocation to multi-asset income in an effort to diversify as it moves towards being cash flow negative.
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NewsNational Milk Records cuts £6.2m with CPI switch
The National Milk Records pension fund has cut £6.2m from its deficit following a switch from the retail price index to the consumer price index as a means of calculating inflation-related adjustments to the fund.
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FeaturesPlumbing scheme plans to seek guidance from Scottish courts as government drags feet on s75
Plumbing Pensions’ prolonged consultation with a departing employer over its exit fee has brought to light fundamental problems with section 75 debt legislation as it currently stands for non-associated multi-employer schemes.
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Opinion
Don't mention the R-word: More over-65s postpone retirement
The number of people over the age of 65 in employment has increased by nearly 100,000 since the beginning of 2014, but this may not be a signal of an ageing workforce.
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News
Experts eye hedging and CPI as UK DB deficit up £170bn in weeks
UK defined benefit pension deficits grew by £170bn over seven weeks in the run-up to the EU referendum, jumping to £900bn as market volatility following the result put further strain on funding positions.
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OpinionHow to prepare for a switch in inflation hedging
The use of consumer price inflation as pension schemes’ marker for inflation has grown in recent times. Douglas Graham from asset manager Blackrock outlines what schemes should be doing.
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News
DB schemes’ negative cash flow matters, but is not a crisis
A survey by Hymans Robertson has found that 50 per cent of FTSE 350 defined benefit schemes are or soon will be cash flow negative, and that chief financial officers are more worried about forced disinvestment than trustees.
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OpinionHow to prepare for a 2016 valuation
Market conditions have changed since 2013, as lower gilt yields threaten schemes with valuations coming up. Trustees should engage with their employer as soon as possible to smooth the process, says Spence & Partner’s Helen Toner.