More defined benefit news – Page 5
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NewsBritish Steel redress hit by falling annuity prices
Redress paid to victims of the British Steel pension scandal has reached £106m, according to the Financial Conduct Authority (FCA).
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NewsCompetitive insurance market ‘great’ for trustees, says Standard Life
Recent entries into the bulk annuity market are helping drive innovation to the benefit of defined benefit (DB) scheme trustees, according to Standard Life.
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NewsLGPS eyes upgrade to cost transparency system
The Local Government Pension Scheme (LGPS) is exploring a potential upgrade to its investment cost monitoring system that could include the use of machine learning tools.
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NewsBus company consolidates DB scheme into TPT
TPT Retirement Solutions has consolidated the £50m defined benefit (DB) pension scheme of Reading Buses into its master trust.
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NewsTrustees warned against complacency as surpluses remain
The aggregate funding level of private sector defined benefit (DB) schemes remained close to 150% at the end of the second quarter, according to data from the Pension Protection Fund (PPF).
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NewsBrookfield and Utmost to enter bulk annuity market
North American financial services giant Brookfield is set to become the latest insurance provider in the bulk annuity market.
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NewsElection 2024: The pensions industry reacts
Pensions Expert rounds up views from the industry as Sir Keir Starmer’s Labour Party prepares to take power following the general election.
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NewsPLSA calls for government focus on DC decumulation, Funding Code
The new Labour government needs to fast-track the implementation of the Defined Benefit (DB) Funding Code as one of its first priorities for the pensions sector, according to the Pensions and Lifetime Savings Association (PLSA).
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NewsPMI launches innovation initiative as part of strategic overhaul
The Pensions Management Institute (PMI) has established a Global Innovation Centre to enhance its work on innovative and collaborative solutions for the UK pensions sector.
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NewsUniversities urged to tackle DB pension costs
Universities should act to control the running costs of their defined benefit (DB) pension schemes, according to a new report from Spence & Partners.
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NewsBulk annuity latest: £33m buy-in for recycling firm
European Metal Recycling has secured a £33m buy-in with Aviva, covering deferred and pensioner members.
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NewsInnovation Interviews: How Cardano embraces AI
Felix Mantz, director at Cardano Advisory, gives Pensions Expert a tour of how his company is using cutting-edge technology to enhance its services to trustees.
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NewsTPT allocates £800m to new alternatives funds
TPT Investment Management has launched two alternative investment funds with combined assets of over £800m.
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NewsCourt rules members should not lose out on DB amendments
A judge has ruled that members of a defined benefit (DB) scheme that lost out when it moved to a career average benefit structure can be reimbursed, while those who benefitted can keep their amended pensions.
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NewsProfessional trustee firms on hiring spree as demand surges
The number of professional trustee appointments has surged by 11% over the past 12 months, with firms intensively recruiting to meet the current demand and future growth expectations.
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NewsTrustees urge focus on pension adequacy after election
With Labour forecast to win as many as two-thirds of the available seats at the general election next month, trustees have called for the new government to focus on retirement income adequacy.
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NewsBulk annuity update: L&G targets £65bn in new business by 2028
Legal & General (L&G) expects to write up to £65bn worth of bulk annuity business by 2028, according to a business update.
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NewsLabour to mandate net-zero transition plans
Financial services organisations, including pension schemes, will be required to set out net zero transition strategies under plan put forward by the Labour Party.
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NewsManifesto pledge could end Mineworkers’ surplus sharing
The Labour Party has promised to end the surplus sharing arrangement with the Mineworkers’ Pension Scheme that has led to more than £4bn being taken out of the scheme.
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NewsMercer to buy Cardano, NOW Pensions in major acquisition
Mercer has announced that it will purchase consultancy group Cardano including its £4bn master trust NOW Pensions.