More defined benefit news – Page 2
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NewsHow trustee boards are tackling the fallout from the Virgin-NTL case
The ICAEW reports three different approaches being taken by trustee boards when reviewing past scheme amendments in relation to last year’s Virgin-NTL ruling.
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NewsUSS rules out bid for healthcare property developer Assura
The £77.9bn pension scheme has opted not to pursue a bid for healthcare property investor Assura that it had previously submitted with KKR.
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News
Bulk annuities latest: Utmost to overhaul IT infrastructure
Plus, buy-in deals sealed by Standard Life and Legal & General worth a combined £620m.
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NewsUK pension market growth slowest among largest peers
New research shows a drop in UK pension assets as a proportion of the largest pension markets in the world.
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NewsDWP to consider changes to PPF levy [updated]
The next Pension Protection Fund (PPF) levy bill could be smaller or even zero, after the Department for Work and Pensions (DWP) agreed to consider changes to the levy rules.
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NewsGovernment to announce DB surplus extraction rules in the spring
The government has confirmed plans to relax rules around defined benefit (DB) pension scheme surpluses, paving the way for excess funds to be paid out to members or employers.
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NewsChancellor expected to loosen rules on DB surpluses [updated]
Chancellor Rachel Reeves is expected to unveil new plans to free up defined benefit (DB) pension scheme surpluses in a speech this week.
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News2024 was record year for bulk annuities, data shows
Preliminary data on bulk annuity transactions shows that approximately £52bn worth of deals were completed last year – a new record.
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NewsDB pension schemes finish 2024 with £226bn surplus
Defined benefit (DB) pension schemes’ aggregate surplus position declined in December as volatility hit equity and bond markets.
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NewsPRA warns of ‘systemic risk’ building up in bulk annuity market
The Prudential Regulatory Authority (PRA) has warned of “systemic risk” within the bulk annuity market as insurers compete for defined benefit (DB) pension schemes’ business.
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NewsUtmost hires former Rothesay CFO to lead bulk annuity market push
Utmost Life and Pensions, one of the newest entrants to the UK bulk annuity market, has appointed former Rothesay Life chief financial officer Andrew Stoker as chief executive.
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NewsLCP forecasts more new entrants to bulk annuity market in 2025
This year will bring a new defined benefit (DB) consolidator and another entrant to the bulk annuity market, according to consultancy group LCP.
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NewsGovernment to review British Coal surplus arrangements
The trustees of the £8.6bn British Coal Staff Superannuation Scheme (BCSSS) are in discussions with government officials regarding the use of a £2.3bn reserve fund.
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NewsAirways Pension Scheme insures £340m of longevity risk
The £5.2bn Airways Pension Scheme has completed a longevity reinsurance transaction with insurers MetLife and Zurich.
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NewsOutlook 2025: The pensions industry’s wishlist for the new year
Pensions Expert spoke to six major industry groups to find out what they want to see happen in 2025, from the Pensions Review and the Pension Schemes Bill to trustee powers and improvements to member outcomes.
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NewsWates Pension Fund transfers to consolidator Clara
Defined benefit (DB) pension scheme consolidator Clara-Pensions has completed its third transaction, taking on the £210m Wates Pension Fund.
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NewsPensions industry supports delay to PPF decision on 2025-26 levy
The Pension Protection Fund (PPF) has delayed the final decision on its 2025-26 industry levy until the end of January as it lobbies for the ability to reduce payments to zero.
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NewsPPF reports £219bn total surplus across DB pension universe
The funding position of private sector defined benefit pension schemes continues to improve, according to the Pension Protection Fund’s (PPF) latest edition of the Purple Book.
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NewsBulk annuities latest: Rothesay insures Avimo Pension Scheme for £50m
Specialist insurer Rothesay has completed a £50m buy-in of the Avimo Pension Scheme, covering more than 600 scheme members.
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NewsSuperfunds trump insurers for schemes exiting PPF assessment
Consolidators such as Clara Pensions could be a more popular future path for defined benefit (DB) pension schemes seeking to exit the Pension Protection Fund’s assessment process, according to a survey.