All PwC articles – Page 3
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Features
Is it time to return to equities?
Analysis: Investors are the most overweight in equities relative to government bonds since August 2014. Might pension schemes share in this bullish outlook on equities?
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Features
Do UK DB schemes have a covenant problem?
Analysis: Sponsor covenant and failed defined benefit promises are in the headlines again with the collapse of outsourcing giant Carillion. Could the liquidation be indicative of a wider national inability to pay pensions, and how should trustees react to a deterioration in their covenant?
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News
Covenant risk is dominating the DB agenda
Defined benefit trustees are becoming increasingly concerned about the strength of their employer covenants, a new survey has revealed, as Brexit uncertainty feeds into broader concerns about the future of sponsors.
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OpinionCounting the pension cost
From the blog: Many investors, like most people, do not really understand pensions. While there is now a lot of pension information in financial statements, unless you happen to be sitting next to an actuary it can be a bit of a blur.
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Opinion
Are the days of the lay trustee numbered?
Pensions Expert 20th Anniversary: For all that is made of the asymmetry of knowledge in the trust-based pension system, anecdotes abound of times when lay trustees have proved their worth.
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News
Trustee pay falls as workload ramps up
The average pension scheme trustee is being asked to dedicate more working days than ever to the running of a scheme, and is being paid less to do so, a survey released on Thursday has suggested.
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News
Wealthy male pensioners buck national longevity trends
Rapidly rising life expectancy among older men will maintain high deficits for UK defined benefit schemes, according to a new report, despite flatlining mortality rates for other demographics.
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News
Scheme support levels at lowest since financial crisis
Affordability of FTSE 350 defined benefit pension promises has retreated to levels not seen since the global financial crisis, a new report has found, putting pressure on trustees of mature schemes.
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OpinionGood funding levels require good cash flow management
Shajahan Alam from Axa Investment Managers explains why what’s good news for your funding level often means you have to manage cash flow more carefully.
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News
Regulator zeroes in on dividends
The Pensions Regulator has targeted employers who pay large dividends while underfunding defined benefit pension schemes in its latest annual funding statement, increasing the pressure on trustees to secure as much funding as possible.
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NewsNortel inches closer to PPF-plus as £5bn lockbox opened
The Nortel Networks UK Pension Plan is set to receive more than £1bn in assets from its insolvent sponsor Nortel in the coming months, after US and Canadian courts agreed to open a $7bn (£5.4bn) escrow ‘lockbox’.
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News
Lawyer survey highlights lack of clearance sought from regulator
Just 21 per cent of pensions and restructuring lawyers normally suggest that clients go through the Pensions Regulator’s clearing process, reflecting a similar decrease in clearance applications submitted.
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NewsPLSA ‘superfunds’ solution gets lukewarm reception
The Pensions and Lifetime Savings Association is calling on the government to facilitate consolidation while creating a regulatory framework for the creation of superfunds, but the proposal has seen a muted response.
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News
'Greenest of green papers' explores DB sustainability options but lacks urgency
A wide-ranging government green paper is exploring a number of possible changes to improve the sustainability of defined benefit schemes, but although experts welcomed the variety of issues discussed, some noted a lack of urgency.
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Features
Brexit, pooling and transparency: Top investment stories from 2016
Year in review: Investment fees and the impact of Brexit on schemes’ portfolios stood out among the most salient subjects for pension schemes in 2016, while the ongoing low-yield environment prompted funds to seek higher returns and cut back on costs.
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Opinion
Can global DB experience help the UK out of crisis?
UK pensions, we are often told, are in crisis. Sustained downward pressure on yields have widened scheme deficits over the year, with the prospect of higher inflation just another concern to add to trustees’ agendas.
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News
Is it time to stop worrying about deficits?
Rising yields mean UK pension deficits are finally shrinking again, according to several industry monitoring systems, but is the defined benefit sector spending too much time concentrating on shortfalls?
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News
Select committee inquiry: What should change to safeguard DB?
As the deadline for submitting views on defined benefit to the Work and Pensions Committee has passed, experts say there is a need for greater flexibility, potential benefit reductions and increased powers for the Pensions Regulator.
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News
Schemes urged to revisit risk as deficits soar
Defined benefit pension deficits have escalated since last month, but despite the challenging environment and gloomy outlook, some experts say schemes should stay calm and consider re-evaluating their risk portfolios.
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News
50-50 take up remains low, but tax changes could spur interest
Take up of a 50-50 option for members of local government pension scheme funds – which allows halving overall contributions – remains low but could rise with changes to pension tax next year.