All scheme funding articles
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NewsThe pension fund that put its own sponsor into administration
Pensions Expert uncovers the unusual case of Biwater, recently wound up by the court at the request of the trustees of its defined benefit pension scheme in order to access PPF protection for members.
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OpinionCovenant comes of age: A journey from crisis to confidence
The importance of the employer covenant has helped shape UK pensions regulation, writes Arabella Slinger of the Society of Pension Professionals. The Pension Schemes Bill shows there is no sign of its importance reducing.
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NewsFall in deficit repair payments 'marks boost for DB sponsors'
The quarterly total of deficit reduction contributions into defined benefit schemes fell below £1bn in the second quarter of 2024, for the first time in several years.
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NewsCentrica reduces DB scheme contributions as deficit narrows
Centrica will pay around £30m a year less into its defined benefit pension schemes as a result of a significant reduction in the overall deficit.
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NewsChancellor expected to loosen rules on DB surpluses [updated]
Long-awaited changes to defined benefit scheme surplus rules will be announced this week.
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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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FeaturesOutlook 2025: New insurers set to make waves in busy DB market
From an evolving bulk annuity market to debates over the use of pension scheme surpluses, next year looks set to be as busy as ever for the defined benefit sector, writes Alex Janiaud.
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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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NewsDon’t ignore covenant risk, says SPP
The Society of Pension Professionals has published a new “myth-busting” paper around covenant risks in light of the new DB Funding Code.
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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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NewsMore funding surplus disputes ahead
BP Pensioner Group has begun a legal process against senior members of BP management and directors of the BP Pension Fund Trustee, following concerns around the value of members' pensions.
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NewsRethinking the DB endgame
DB schemes could be missing a trick by completing insurance transactions, according to new research
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OpinionIndustry voice: Govt must back DB schemes to benefit from investment capabilities
AMNT’s Janice Turner argues that the government needs to look long-term
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NewsCharities sector sees funding level improvement
The combined reserves of the largest 40 charities in England & Wales that sponsor defined benefit (DB) pension schemes rose to £49bn in 2022 from £40bn in 2021, according to analysis published in a report by Hymans Roberson.
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NewsHigh Court supports trustee’s petition to wind up Biwater scheme sponsors
The High Court has supported the decision by the trustee of the Biwater Retirement and Security Scheme to petition to wind up the scheme’s sponsoring employers.
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NewsDerisking well funded DB schemes may be an opportunity missed
Employers should adopt a more ambitious approach to managing well-funded defined benefit (DB) schemes and see them as an opportunity, according to pensions experts.
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NewsNew DB funding code could cost employers up to £34bn
The Pensions Regulator estimates that the defined benefit funding code could have a cost for employers of up to £34bn, which has prompted consultancy LCP to call on the government to give more time to sponsors to adjust to the new regime.
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NewsNew British Steel scheme secures third buy-in
On the go: The British Steel Pension Scheme has signed a £2bn buy-in with Legal & General, bringing the total liabilities insured to around 60 per cent.
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NewsRegulator dismisses delaying DB funding code due to LDI crisis
The Pensions Regulator has denied a request from MPs to delay the launch of its defined benefit funding code consultation due to the recent market turmoil, justifying that the document already includes a section about systemic risk.
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NewsBank of England raises interest rates to 3.5%
On the go: The Bank of England has raised interest rates by 0.5 percentage points.