More defined benefit news – Page 3
-
NewsPPF consults on zero levy as industry awaits Pension Schemes Bill
The lifeboat fund has set out plans to charge a zero levy for the 2026-27 financial year, with fallback options if the Pension Schemes Bill has not passed into law in time to facilitate the zero charge.
-
NewsBulk annuities: Wolseley taps £600m buy-in with Aviva
Plus: Troubled pub group Stonegate insures two pension schemes with Utmost, while Transport Friendly Society strikes a deal with Just Group for £3.3m buy-in.
-
NewsPMI launches partnership initiative to boost training and development
Three administration providers have signed up as founding members of the PMI’s Development Partnerships programme, after a regulatory report flagged recruitment and retention issues in the sector.
-
NewsFrom £160bn to £11bn: Government reins in surplus release estimate
Data highlighted by the Society of Pension Professionals shows that the government’s central estimate for capital released from DB surpluses is less than 10% of the £160bn it cited at the launch of the Pension Schemes Bill.
-
NewsUpdated sole trustee code launched as TPR eyes increased oversight
The Association of Professional Pension Trustees has updated its code for sole trusteeship to include additional guidance on due diligence and measures providers should take to manage conflicts of interest.
-
NewsTPT names trustee board for run-on superfund
The new superfund will be chaired by Aretas Trustees’ Nadeem Ladha, TPT has announced, along with professional trustees from Law Debenture, Bestrustees, and Capital Cranfield.
-
NewsBox Clever members transferred to ITV Pension Scheme to end decade-long saga
Box Clever members have been receiving benefits level with PPF compensation since 2014, but will now see these restored in full and back payments made after members were transferred to the ITV scheme on 1 October.
-
NewsBulk annuities latest: Just, Canada Life and L&G announce deals
This week’s announcements include buy-ins for a transport and logistics company, Ford’s motor racing arm, and the producer of Irn-Bru.
-
NewsAptia seeks to expand service offering with Atkin Pensions acquisition
Administration provider Aptia has also hired Stuart Heatley from Capita to lead a new unit that will provide bundled consultancy and actuarial services.
-
NewsLogistics firm agrees buy-in for TPT master trust section
Seabourne Holdings has secured a buy-in with Just Group, insuring a section of the TPT DB Master Trust after five years of outsourced scheme management.
-
NewsBulk annuities latest: Royal London completes £16m buy-in
Plus, Aviva and M&G complete buy-in transactions for unnamed pension schemes sponsored by US parent companies, with combined premiums totalling more than £220m.
-
NewsMyCSP staff union announces three more weeks of strike action
The Public and Commercial Services union plans a further escalation in its dispute with MyCSP, the outgoing administrator of the Civil Service Pension Scheme, with members preparing to strike from 7 to 28 November.
-
NewsFord drives biggest buy-in of 2025 with £4.6bn L&G deal
The transaction covers around 35,000 members of two Ford defined benefit schemes, and is the second largest deal L&G has ever completed.
-
NewsBoost member-nominated trustees through Pension Schemes Bill, MPs told
Representatives of retired former Hewlett-Packard, BP, and American Express workers appeared before the Work and Pensions Committee this week to put the case forward for changes to the bill related to the indexation of DB pensions.
-
NewsMPs to hear evidence from members, trustees, and TPR on pre-97 indexation
Campaigners, trustees, pension professionals and the Pensions Regulator will all give evidence to the Work and Pensions Committee in relation to discretionary increases and pre-97 indexation.
-
NewsAddressing legacy data issues ‘has power to transform the pensions industry’
Pensions UK Annual Conference: Data quality was once seen as an administrative afterthought but is now a strategic priority fundamental to every aspect of scheme management, delegates heard.
-
NewsPensions UK Annual Conference - live blog coverage from Manchester
Live coverage from Manchester of the trade body’s first conference since its summer rebrand as Pensions UK.
-
NewsPensions industry confident of sector’s resilience in face of major reforms
More than three quarters of pensions industry professionals expect the sector to successfully navigate the significant reforms proposed over the next few years, according to new research from trade body Pensions UK.
-
News‘More flexibilities’ for trustees to consider in DB Funding Code
Three-quarters of respondents quizzed during a recent webinar hosted by LCP said they believed there was more for trustees to consider, including aspects of covenant, surplus, and investment strategy.
-
NewsActuarial watchdog to develop technical guidance after Virgin Media rulings
The guidance will help actuaries who are asked to sign off on legacy pension scheme amendments retrospectively – an issue that has been plaguing certain private sector DB pension schemes since a 2023 court ruling.