More defined benefit news – Page 157
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NewsEmployers consider RPI/CPI switch as gap widens
Consultants have reported more employers trying to overcome the difficulties of switching from using the retail price index to the consumer price index to reduce scheme liabilities as the gap between the two measures widens.
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NUJ to appeal ombudsman ruling over BBC pensionable pay cap
The National Union of Journalists will appeal the pensions ombudsman’s determination that the BBC's pensionable pay cap did not breach its obligations, as more employers look to such tools to derisk schemes.
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Scheme valuation process 'broken', consultants say
Industry figures have called the triennial valuation process poorly suited to help schemes assess their needs, with technological advances allowing trustees to instantly assess their scheme’s funding level.
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Civil service schemes centralise admin to boost engagement
The civil service pension schemes are moving the administration of their active, deferred and pensioner members to a single system to reduce costs and increase member engagement.
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Charities await guidance to reduce liability squeeze
Not-for-profit employers that belong to multi-employer schemes are waiting for further guidance on dealing with debt risk that could trigger insolvency.
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Lloyds derisks to stabilise scheme funding
One of Lloyds Bank's defined benefit pension funds has increased its allocation to bonds in an effort to boost stability, as European regulation puts pressure on bank sponsors to reduce volatility.
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Data analytics use on the rise to inform investment decisions
Four in five institutional investors have increased the use of data analytics in the past three years to inform investment and risk-management decisions, and to meet tougher regulatory requirements.
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Bulk annuity growth could tackle competition gap
New analysis: More insurers are expected to join the bulk annuities market to meet growing demand from pension funds, after concerns were raised over competition in the sector.
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United Utilities ups interest rate hedge after hitting trigger
United Utilities has increased interest rate hedging in its defined benefit schemes in order to reduce risk, working towards its target of full protection against interest and inflation rate fluctuations.
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Employers open to risk of reporting errors on contingent assets
News analysis: Employers have been told to approach the use of certain contingent asset funding deals with caution, after the Financial Reporting Council said solvency improvements could be cause for investigation.
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Thales commits £1.6bn to scheme after funding drop
Thales UK pension scheme has enhanced its recovery plan following a deterioration of its funding position due to low interest rates.
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IBM portal gets 5,000 sign-ups as scheme goes paperless
More than 5,200 active employee members have signed up to IBM Pensions Trust’s online pensions management portal since it was launched in the middle of last year.
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Infrastructure top of agenda despite hurdles
Data analysis: Defined benefit and defined contribution schemes are once again circling infrastructure investments, but a lack of underlying assets and suitable funds – especially for DC investors – is holding back inflows.
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BA uses triggers to grab derisking opportunities
British Airways’ New Airways Pension Scheme has implemented a liability-hedging framework aiming to capture outperformance, as schemes take a more opportunistic approach to derisking.
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WMPF portal drives 19% increase in web engagement
West Midlands Pension Fund has seen a substantial increase in traffic to its website following the launch of an online portal providing scheme information to members and employers.
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Scheme confidence drives LDI take-up
News analysis: Three-quarters of UK defined benefit pension schemes are using or planning to use liability-driven investment strategies, as increasing delegation is encouraging more complicated approaches.
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NewsImproved funding levels set off derisking triggers
Four in 10 schemes hit derisking triggers in the year to September as funding levels recovered and institutional investors looked to take risk off the table.
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Schemes face series of admin hurdles in 2014
2014 preview: Pensions liberation, data and tax are among the major administrative challenges schemes will face next year, industry experts have cautioned.
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Investors on the hunt for asset performance
2014 preview: Next year will provide defined benefit schemes more derisking opportunities, while defined contribution schemes may need to diversify further during their growth phase, investment experts have predicted.
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How the DB code of practice may affect your scheme
News analysis: Schemes should take a more integrated approach to investment, funding and covenant in their risk management, according to the Pensions Regulator’s consultation on its defined benefit code of practice.