All scheme funding articles – Page 10
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NewsSmart Pension platform raises £165m in funding
On the go: Smart, the platform provider behind master trust Smart Pension, has raised £165m in a funding round, with the goal to expand its business in different territories.
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NewsHundreds of DB sponsors to face hike in contributions
On the go: Around 300 sponsors of defined benefit schemes will have to increase their deficit recovery contributions by at least 25 per cent, according to analysis from LCP.
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NewsFTSE 350 DB schemes back on track after Covid-19 blow
On the go: The majority of defined benefit schemes from FTSE 350 companies are back on track in terms of their funding goals, after being hit in 2020 by the economic crisis caused by Covid-19, according to research from Barnett Waddingham.
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NewsGovt to reform discount rate and cost-control mechanism
The government has proposed aligning the discount rate review periods with the valuation cycles of public service pension schemes, and is taking forward reforms to the cost-cap mechanism first proposed by the government actuary.
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NewsChurch of Scotland schemes appoint XPS as joint adviser
On the go: The £507.5m Church of Scotland pension schemes, comprising the scheme for ministers and overseas missionaries, the scheme for staff and the scheme for ministry development staff, have appointed XPS Pensions Group as their actuarial and investment adviser.
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NewsBespoke funding route could save charities 65% in cash contributions
On the go: Charities could cut their defined benefit cash contributions by between 35 and 65 per cent if they opt for the bespoke option over the fast-track route in the new DB funding code, according to analysis by Hymans Robertson.
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NewsGovernment actuary proposes cost control mechanism reform
Martin Clarke, the government actuary, has proposed changing the cost-control mechanism used in the reformed public service pension schemes in a bid to tackle the “perverse outcome” of the 2016 valuation.
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NewsUniversities back alternative proposals to reform USS
Employers representing 95 per cent of the Universities Superannuation Scheme membership have backed measures proposed by Universities UK, including enhanced employer covenant provision, in a bid to end the impasse over the scheme’s 2020 valuation.
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NewsDover Harbour scheme appoints fiduciary manager
On the go: The £221m Dover Harbour Board Pension and Life Assurance Scheme has appointed River & Mercantile to handle its assets via a fiduciary management mandate following a search conducted in September last year.
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NewsTreasury slammed for McCloud errors, but members will foot the bill
The Public Accounts Committee has issued a scathing report highlighting HM Treasury’s failure to predict the numerous problems stemming from 2011-15 public sector reforms, warning its mistakes will take “generations” to resolve.
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NewsDB schemes overestimating endgame timeline goals
On the go: Almost half of defined benefit schemes are expecting to reach endgame in five to 10 years, which could be a cautious forecast as trustees’ risk missing strategic opportunities, according to Aon.
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NewsUK DB scheme surplus increases £41bn in May
On the go: The aggregate surplus of 5,318 defined benefit schemes eligible for the Pension Protection Fund increased by £40.9bn in May.
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NewsUCU mulls industrial action as USS sponsors reject benefits modelling
The University and College Union has said it is to decide “in the coming days” whether to press ahead with industrial action after its newly released ‘benefits modeller’, aiming to show how much members stand to lose under controversial proposals by the Universities Superannuation Scheme, was dismissed by employer representatives.
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NewsWyeth Group scheme secures £190m buy-in with Aviva
On the go: The circa £446.9m Wyeth Group Pension and Life Assurance Scheme, which includes both defined benefit and defined contribution sections, has completed a £190m annuity buy-in transaction with Aviva.
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NewsTPR looks to clarify new contribution notice tests
On the go: The Pensions Regulator has called for the pensions industry to give its views on the application of new contribution notice tests stemming from the Pension Schemes Act.
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NewsTPR urges trustees to remain vigilant of sponsor activity
The Pensions Regulator has used its latest annual funding statement to call for trustees to remain vigilant of weakening employer covenants and corporate activity, while laying out guidance on how to approach scheme valuations under the current challenging conditions brought by the pandemic.
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NewsFTSE 100 scheme funding stays flat despite £200bn contributions
On the go: FTSE 100 companies have seen the funding position of their defined benefit schemes remain broadly unchanged since the financial crisis, despite sponsor contributions of more than £200bn, a report by LCP has shown.
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NewsRussell Group universities propose USS compromise
Russell Group has backed the Universities Superannuation Scheme trustee’s suggested “lower-cost, more flexible” alternative to the existing scheme structure.
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NewsScams, dashboards, superfunds feature in TPR’s three-year plan
The Pensions Regulator has published its latest three-year plan, an agenda encompassing everything from pensions security, tackling scams, dashboards, superfunds, and coping with the changing nature of defined contribution pension provision.
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NewsMcCloud funding impact ‘minimal’ but MHCLG needs to step up
On the go: The funding impact of the deferred choice underpin on the Local Government Pension Scheme is expected to be minimal, but the government needs to provide much more information to put minds at ease, according to speakers at the Pensions and Lifetime Savings Association’s Local Authority Conference.