More defined benefit news – Page 112
-
NewsWiden taper consultation to fix pensions tax system, experts say
A chorus of pension experts is urging the government to extend the ambit of its consultation on the workings of the tapered annual allowance to include the private sector along with other anomalies and injustices.
-
News
HSBC scheme agrees £7bn longevity swap package
On the go: Trustees of the HSBC Bank UK Pension Scheme have agreed the second-largest longevity swap in UK history, insuring £7bn of the scheme's liabilities against living too long.
-
News
FTSE 350 deficit up to £51bn as political and financial turmoil ahead
On the go: FTSE 350 companies saw their pension deficit grow in July, from £48bn at the end of June to £51bn by the end of July, a £3bn increase. Funding levels were unchanged over the month at 94 per cent, according to Mercer.
-
News
British American Tobacco strikes £3.4bn buy-in deal
On the go: British American Tobacco's UK pension scheme has agreed a buy-in covering both pensioners and deferred members, the third largest struck to date.
-
News
Record 336,000 retirees access their pensions
On the go: More retirees than ever are withdrawing money from their pension pots as the popularity of freedom and choice continues unabated.
-
News
Select committee presses govt on superfund commitment
On the go: The Work and Pensions Committee has voiced its concerns about the government allowing the creation of defined benefit superfunds in the absence of a dedicated regulatory regime.
-
News
The Pension SuperFund announces second deal
On the go: The Pension SuperFund has announced its second deal, having submitted its first transaction to the Pensions Regulator for clearance earlier this year.
-
NewsShell MND elections reignite debate over selection panels
The Shell Contributory Pension Fund announced elections for member-nominated trustees last month, with campaigners calling on members to seize the opportunity and appoint climate risk-conscious representatives.
-
News
DB governance not up to scratch, finds XPS
On the go: Only 22 per cent of pension schemes have a defined plan of action if their funding level falls, according to a recent XPS Pensions governance survey, which found huge variations in standards of scheme management across the sector.
-
News
390,000 people have transferred out of DB schemes since 2016
On the go: More than a third of a million people have transferred out of defined benefit pension schemes since 2016-17, according to data from the Pensions Regulator.
-
News
Proposed merger to swell UK pension fund behemoth by almost £500m
On the go: Plans for the UK’s second-largest local authority pension fund to swallow a local transport workers pension fund were announced on Tuesday, in a move aiming to protect member savings.
-
NewsMPS surplus share uplift would not be 'transformational', say trustees
Former miners campaigning for the government's 50/50 split of their pension fund’s surplus to be renegotiated have been told by their own trustees the impact of such a change could be underwhelming.
-
NewsCritics rebuke Hancock's 'narrow' NHS pension consultation
The British Medical Association poured cold water on the government’s NHS pension consultation on Monday, criticising its proposal of '50:50' accrual as too narrow and calling for the annual and tapered allowance to be scrapped altogether.
-
News
3 in 4 companies happy to extend AE to self-employed and low-paid
On the go: Three quarters of businesses back the extension of auto-enrolment to include the self-employed and those earning less than £10,000 a year, but have a limited appetite for mandatory contribution increases, according to new research.
-
News
ECPA: Covenant assessments must consider climate change
On the go: The Employer Covenant Practitioners Association has emphasised the need to consider potential implications of climate change on sponsors’ businesses as part of defined benefit covenant assessments.
-
News
Schemes urged to start work on progressing GMP equalisation
On the go: The GMP Equalisation Working Group has urged schemes to start work on progressing guaranteed minimum pensions equalisation and rectification.
-
NewsArcadia CVAs challenged by US property group
Arcadia has received applications challenging two of its seven company voluntary arrangements, raising questions over the future of its pension schemes.
-
News
PIC de-risking reaches £6bn in H1 with £40bn in pipeline
On the go: The Pension Insurance Corporation has completed nine de-risking transactions totalling £6bn in the first half of 2018, a record for the company with a pipeline of new business of more than £40bn.
-
News
Supreme Court denies BT right to appeal in £2bn indexation battle
On the go: The Supreme Court has denied BT the opportunity to appeal against the Court of Appeal’s ruling preventing the company from downgrading the inflation protection given to some of its defined benefit members.
-
News
APPT delays start of professional trustee accreditation system
On the go: The start of the new process for accrediting professional trustees has been delayed. Originally set to start in the summer of 2019, arrangements are now expected to be finalised later this year.