More defined benefit news – Page 160
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NewsRoyal British Legion to expand Pie after £1m saving
The Royal British Legion is working on a pension increase exchange offer for members coming up to retirement, after an exercise with the scheme’s pensioners last year knocked £1m off its deficit.
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Small schemes offered off-the-peg buyouts to speed up derisking
Small schemes will be offered standarised buyouts to decrease the time and cost associated with bespoke bulk annuity purchases, a model that has gained popularity in the buy-in market.
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How accounting changes hit your balance sheet
News analysis: New accounting principles have increased sponsors' focus on the expense of operating a defined benefit scheme and the risk it poses to future cash flows, as companies prepare interim reports under the new regime.
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Derbyshire reduces auto-enrolment comms burden
Derbyshire County Council has taken steps to reduce its auto-enrolment communication costs, from record-cleansing to communicating through employers, as local authority schemes look to manage the cost of the reform.
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NewsGilt investment reaches post-crisis peak at £22bn
Schemes have ramped up their investment in gilts and index-linked gilts over the past couple of years in an attempt to shore up their pension promises, data from the Office for National Statistics have shown.
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NewsWind-up: avoiding union and member backlash
Winding up defined benefit schemes or changing members’ benefits has become a working reality for some management teams, as employers decide to cut costs and offload risks in a tough environment for scheme funding.
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Lothian to reduce 'suboptimal' market cap exposure
The Lothian Pension Fund is to reduce its reliance on market capitalisation-based equity indices and increase investment in global portfolios, in order to boost performance and reduce volatility for members.
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SPC: Pot-follows-member a 'breeding ground' for fraud
The government’s pot-follows-member proposals threaten to “overstretch” the industry and expose members to greater risk of pension liberation fraud, if introduced at the peak of auto-enrolment in 2014, the Society of Pension Consultants has warned.
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Three out of four schemes to mitigate volatility
The use of volatility-reducing strategies has increased as schemes look to dampen the impact of current market conditions on portfolios, according to investment data.
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Wandsworth eyes collective investment lead
Wandsworth Council Pension Fund has set its sights on leading a London-wide collective investment vehicle to drive down costs, rather than a forced merger, pensions committee documents have revealed.
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Schemes turn to 'esoteric' ABFs to fill deficits
Schemes are being forced to be more creative in finding assets to back funding, industry experts have said, following deals using brands, intellectual property and whiskey.
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EMD losing its sparkle as schemes value EM equities
The recent lag in emerging market equity performance compared with developed markets is luring pension funds to an asset class they see as cheap compared to its debt counterpart.
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NewsPIPA 2013: The winners
The full list of the winners of the 14th annual Pension and Investment Provider Awards, held last night at the Sheraton Park Lane Hotel.
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Hackney: equities better than bonds over long term
Equities are more attractive in the long term than bonds, according to the London Borough of Hackney Pension Fund, which is even modelling the impact of a 100 per cent equity allocation on the scheme’s investments.
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NewsBA communicates with members on growth objective
The Pensions Regulator’s new objective to support employer growth has filtered through to members of the British Airways pension schemes, where trustees have met with the airline and regulator as part of the valuation process.
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Council funds clash over merger plans
Norfolk Pension Fund has rejected Local Government Pension Scheme merger proposals, saying they could harm fund services and trustee stewardship – but the London Pensions Fund Authority and unions have backed the move.
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Schemes grab chance to fireproof against inflation
Nearly half of pension fund trustees have incorporated longevity or swap contracts to tackle inflation risk, an upcoming survey will show, having benefited from favourable pricing last year to boost protection.
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How the 2013 funding statement affects your scheme
NEWS ANALYSIS: The Pensions Regulator’s 2013 annual funding statement has set out the flexibilities open to schemes in the tough economic climate, but pension professionals have said those carrying out valuations this year could find the process challenging.
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NewsHavering to fund 'stalled' local property projects
The London Borough of Havering Pension Fund is planning to invest in delayed local property projects including residential housing, as more council funds increase their exposure to property to match liabilities and boost community investment.
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NewsLocal authority schemes choose multi-asset to limit volatility
Local authority funds have ramped up their interest in multi-asset strategies as they try to manage the impact of volatility on their investments, according to new investment data.