All scheme funding articles – Page 16
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News
Bulk annuity volumes hit £12.6bn in H1 2020
On the go: Total buy-in and buyout volumes reached £12.6bn in the first half of this year, the second-highest value on record, according to analysis published by LCP.
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News
Rail sector pension plan staring down £15bn black hole
On the go: The largest pension scheme serving the UK’s rail sector is standing on the event horizon of a £15bn black hole created by changes to its funding rules, the Financial Times has reported.
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News
DB schemes over-reliant on ‘historically improbable’ returns
On the go: Underfunded defined benefit schemes in the UK will require “once-in-a-century” equity performance if they are to avoid carrying their funding gaps well into the 2030s, according to a new report from Willis Towers Watson.
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News
Employers exiting LGPS to get new powers
On the go: Local Government Pension Scheme administering authorities and employers are to be given a host of new powers, as well as flexibility on exit payments, the government has announced.
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News
DB pension deficit falls £59bn in August
On the go: The aggregate deficit of the 5,422 defined benefit schemes in the Pension Protection Fund 7800 Index fell by £59bn in August.
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News
USS announces ‘challenging’ valuation consultation
The Universities Superannuation Scheme has launched a consultation with employers over its 2020 valuation, which at worst could present a £17.9bn deficit. But it faces a fight with the University and College Union, which said it had no confidence in the “needlessly cautious” approach taken by the USS.
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News
DB schemes with ‘clean bill of health’ before pandemic
Data crunch: High levels of hedging, integrated approaches to risk management, long-term targets and clearly defined journey plans all made for sepia-tinted tranche 14 valuations.
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PodcastsPodcast: DB schemes could be ‘doomed to failure’ by new funding code
Podcast: Defined benefit schemes could be “doomed to failure by measures that are designed to help them”, says Baroness Ros Altmann of the proposed new funding code. She is joined by SEI’s client strategy director Alistair Jones to discuss that issue, as well as the challenges faced by master trusts, and the increasingly bizarre McCloud remedy that, though intended to tackle age discrimination, has been accused of age discrimination.
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News
Master trusts to face cost challenges in years ahead
The fallout from the Covid-19 pandemic is only the latest in a long line of structural challenges the master trust industry must face in coming years, according to a new report from the Pensions Policy Institute.
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News
Industry unmoved by regulator’s DB funding arguments
The introduction of a twin-track approach to regulating defined benefit scheme funding could stifle the creativity needed to navigate the current financial crisis, experts have warned.
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PodcastsPodcast: TPR to make changes to DB funding ‘fast-track’
Podcast: The Pensions Regulator will make changes to the fast-track approach proposed in its defined benefit funding consultation due to the impact of Covid-19, revealed its executive director of regulatory policy, analysis and advice David Fairs.
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OpinionHow much has DB regulation cost?
Iain Clacher and Con Keating investigate the cost, including lost tax on businesses’ profits, of ever-increasing contributions to defined benefit pension schemes.
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Features
Sunny DB analysis masks trouble ahead
Data crunch: Detailed analysis of triennial valuations with due dates up to December 2019 confirm the gradual improvement in the security of defined benefits in the UK, but experts warn that care is needed to keep schemes on track this year.
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News
DB scheme accounting deficits jump £13bn in a month
On the go: The accounting deficits and liability values of the defined benefit schemes of the UK’s 350 largest listed companies rose by £13bn last month alone, according to research by Mercer.
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News
Threat of action by TPR settles sponsor dispute
On the go: The Pensions Regulator has settled a case in which a pension scheme was placed at risk by an organisational restructure, with the threat of action being sufficient to force an agreement.
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News
TPS employer contributions could reach 30% in 2023
A funding crisis in the pension scheme for teachers could lead to further contribution increases and yet more private schools leaving the scheme, as Covid-19 and the McCloud judgment take their toll.
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Features
New managing partner for Arc Pensions Law
Boutique law firm Arc Pensions Law has a new managing partner, Rosalind Connor, who succeeds Chris Mullen, its co-founder.
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PodcastsPodcast: Schemes cannot eliminate chance of cyber breach
Podcast: Pension schemes hold an extraordinary amount of personal data. Though trustees have done much since the passage of the General Data Protection Regulation to improve data security, it is impossible to remove the risk of breaches entirely. So says ITM director Maurice Titley, joined this week by Aon partner Lynda Whitney to discuss cyber security, McCloud, and Covid-19’s impact on recovery plans.
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News
New DB funding code could imperil sponsors and members
Some of the proposals in the Pensions Regulator’s consultation on a new defined benefit funding code could lead to worse outcomes for scheme sponsors, members and the Pension Protection Fund, according to a new report by LCP.
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News
Market volatility leads to attractive returns in low-risk credit
On the go: Pension schemes should consider adopting high-quality, low-duration credit strategies such as asset-backed securities as an alternative to traditional bond allocations when looking to derisk their portfolios, according to a new report from Aon.