More defined benefit news – Page 6
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News‘Majority’ of schemes have professional trustees, research shows
More than half of defined benefit (DB) pension schemes have a professional trustee on their boards, according to a survey by Aon.
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NewsTrustees ‘must be wary of cyber risks’ after BBC breach
Law firm Burges Salmon has urged pension scheme trustee boards to put cybersecurity high on their agendas following recent data breaches.
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NewsDC contributions exceed DB payments for first time
The biggest listed companies in the UK paid more into their defined contribution (DC) schemes in 2023 than into defined benefit (DB) schemes, new research has found.
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NewsInnovation Interviews: How Clara brought a new consolidation model to market
Clara Pensions won the DB Innovation Award at last month’s Investment Innovation Summit. CFO Richard Zugic speaks to Pensions Expert about the company’s progress and its pipeline.
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NewsIsio launches illiquid asset disposal tool
Consultancy group Isio has launched an investment tool to help pension schemes sell illiquid assets.
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NewsBulk annuities update: Arqiva completes £204m buy-in with PIC
Telecoms company Arqiva has secured a full scheme buy-in with Pension Insurance Corporation (PIC) covering deferred and retired members.
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NewsUSS replaces Capita with Procentia as tech provider
The UK’s largest pension scheme has appointed a new technology platform to cater for its 528,000 members.
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NewsBulk annuities update: ICI strikes £900m deal with L&G
The ICI Pension Fund has secured a £900m buy-in with Legal & General (L&G), the latest in a series of transactions. The latest deal covers more than 7,000 pensioners.
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NewsImprove communication to boost trust, survey says
The pensions industry needs to focus on improving communications with savers and scheme members in order to build trust in the system, according to Trafalgar House.
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NewsAviva and Scottish Widows join dashboard operators group
The UK’s largest insurer, Aviva, is among the three new members of the Dashboard Operators Coalition, the industry group set up to work with government to deliver the pension dashboard programme.
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NewsDashboard costs rose by 23% in 2023, figures show
The estimated cost of the Pensions Dashboard Programme reached £289m in 2023, according to the National Audit Office (NAO), up from an initial estimate of £235m in 2020.
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NewsBulk annuities latest: Construction group seals sub-£5m buy-in with Aviva
A Preston-based construction group has completed a full scheme buy-in with Aviva, part of a plan to buy out and wind up the defined benefit (DB) scheme.
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News‘A fundamental point of fairness’: MPs call for action on discretionary increases
Major UK employers have been criticised by MPs for failing to ensure pension payments keep up with inflation.
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NewsAutomation ‘could save DB schemes £300m a year’
Automation could save defined benefit (DB) pension schemes tens of thousands of pounds a year, according to research by Spence & Partners.
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NewsBorder to Coast bags two awards at Investment Innovation Summit
Other winners of Innovation Awards include Scottish Widows, Clara Pensions, Penny and Cardano.
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NewsTPR: Time is running out to clean up your data
The Pension Regulator (TPR) has warned scheme administrators to make sure they deal with any data issues during the Pensions Administration Standards Association (PASA) conference in the City of London this week.
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NewsBulk annuity latest: Construction group seals £16m buy-in
Building company John Graham Construction has completed a £16m buy-in with Legal & General (L&G).
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NewsTPR Annual Funding Statement: Is your scheme’s strategy fit for purpose?
Endgame options, climate risk and sponsor covenant all feature prominently in TPR’s latest annual funding statement.
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NewsUse surplus to restore inflation protection, say trustees
The call comes as DB schemes are enjoying their largest aggregate surplus in years, and the government is seeking to provide more flexibility over accessing this money.
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NewsSPP urges care over PPF valuation changes
Proposed changes to valuation metrics for schemes in the Pension Protection Fund’s (PPF) assessment period could push smaller funds away from better options in the insurance market, according to the Society of Pension Professionals (SPP).