More defined benefit news – Page 131
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News
Life expectancy falls by a year in some regions
Life expectancy growth in England is slowing, with some regions experiencing a drop of one year, according to research by Public Health England.
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NewsNotts expands local property investment
The £4.9bn Nottinghamshire County Council Pension Fund has increased its commitment to local property investment. The fund has added £10m to its local property fund and has expanded the geographical area where it will invest.
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NewsSouthampton uni's DB closure proposal poorly timed, experts say
The University of Southampton is consulting on the closure of its defined benefit scheme for non-academic staff, a move experts have said is not well timed given current scrutiny of senior pay packages at universities.
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GKN trustees say hostile takeover must respect pension obligations
Trustees of GKN’s pension schemes have stressed that any potential buyer of the company, which rejected an unsolicited takeover approach from Melrose Industries last week, should be aware of the scheme’s recent funding positions.
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DB closure at Southampton University would hit lowest paid staff, say unions
Unions have warned that proposed pension changes at the University of Southampton will cause low-paid staff to lose thousands of pounds in retirement.
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NewsCarillion collapse leaves scheme facing PPF
Contractor Carillion has entered into compulsory liquidation, with its 28,000 defined benefit pension scheme members set to transfer into the Pension Protection Fund, at a potential cost to the lifeboat of more than £587m.
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Field probes administrator on Palmer & Harvey pension situation
The select committee has written to the administrators of collapsed wholesaler Palmer & Harvey, with a series of questions about the company’s finances and operations, and the position that leaves the pension fund in.
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NewsCarillion collapse sparks calls for better DB rules
The collapse of Carillion and impending transfer of some of its defined benefit members into the Pension Protection Fund has raised questions about the suitability of existing pensions laws.
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News
Chappell found guilty for failing to provide information to regulator
Former BHS owner Dominic Chappell has been convicted of failing to provide information that the Pensions Regulator had asked him to supply as part of its investigation into the sale and subsequent collapse of the retailer.
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Select committee set to publish responses on British Steel transfers
The Work and Pensions Committee is to release responses it has received from the FCA, advisory business Active Wealth and 'introducer' company Celtic Wealth.
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News
Third wave of strike action called at Fujitsu
IT giant Fujitsu is set to dismiss a union representative who has previously spoken out against changes made to the company's pension provision, sparking a third wave of strike action by employees.
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News
Two North East councils to establish LGPS shared admin service
South Tyneside Council and Northumberland County Council have been working together to establish a shared administration service for the Local Government Pension Scheme, resulting in savings for both.
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News
Pension transfer values rise once more
Year-on-year pension transfer values have grown for the third year in a row, according to research by not-for-profit fintech company Origo.
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NewsBBC expands trustee board
The BBC pension scheme has changed the structure of its board, appointing two independent members. The scheme is now recruiting a third independent trustee. The changes take the total number of trustees to 11 from previously nine.
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News
DB deficits rise by £16bn in December
The latest Pension Protection Fund 7800 Index indicates a jump in the aggregate defined benefit deficit to £103.8bn at the end of December 2017, from a deficit of £87.6bn at the end of November 2017.
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NewsProspect members agree to BT pension deal
BT managers represented by union Prospect have voted in favour of a new pensions deal that will boost pay and aim to incentivise members of its defined benefit BT Pension Scheme to join the defined contribution BT Retirement Saving Scheme.
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News
Welsh pension pool appoints investment adviser and operator
The Wales Pension Partnership has appointed Russell Investments for investment management and investment advisory services and Link Asset Services as an operator to establish and run a collective investment vehicle.
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Prospect members vote in favour of new BT pension deal
BT staff represented by union Prospect have agreed to a new pensions deal that will boost pay and aim to incentivise members of its defined benefit BT Pension Scheme to join the defined contribution BT Retirement Saving Scheme.
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News
Companies reduce scheme deficits by £8bn
The combined pension deficit of FTSE 350 companies improved by £8bn over 2017, while assets went up more than £44bn to £781bn, a pensions consultancy said.
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News
Bulk annuity transfers to pass £15bn in 2018
2018 will be the first year in which buyouts and buy-ins for UK defined benefit schemes exceed £15bn, consultancy LCP has predicted, with improved funding levels and keen insurer pricing helping to establish a “new normal” in the bulk annuity market.