All scheme funding articles – Page 19
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News
UK schemes deficit falls to £6.4bn
On the go: The aggregate deficit of the 5,450 UK defined benefit schemes in the PPF 7800 Index fell to £6.4bn at the end of April 2019 from £43.9bn at the end of March 2019.
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News
TPR to issue two consultations on plans for a clearer DB funding framework
On the go: The Pensions Regulator has announced its intention to launch two consultations – the first to be published this summer – as part of the watchdog’s plans to make the funding standard for defined benefit schemes clearer.
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FeaturesAkzoNobel valuation results in £550m Q1 funding call
Paint manufacturing giant AkzoNobel has contributed €639m (£548.8m) into its pension schemes in the first quarter of 2019 alone, after a triennial valuation increased the company’s funding obligations beyond its previous projections.
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News
STV agrees new £127m DB funding package
On the go: Scottish broadcaster STV has agreed to pay off its £127m defined benefit pension deficit over 12 years, including additional contributions if its cash flow improves, after completing triennial valuations of its schemes.
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NewsSelect committee turns focus to Railways Pension Scheme deficit
The Work and Pensions Committee has written to the Pensions Regulator over what it called the “staggering, parlous state” of the £25.5bn Railways Pension Scheme.
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Features
John Laing divests asset-backed funding from former sponsor
The John Laing Pension Fund has sold its remaining stake in infrastructure company John Laing Environmental Assets Group, a holding initially contributed to the scheme as part of a contingent funding plan in 2015.
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NewsEmployers and academics rail against new USS contribution rate
Employers and workers alike have expressed concern over proposed contribution hikes to Britain’s biggest private sector pension scheme, the £63bn Universities Superannuation Scheme.
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News
DB schemes creep back towards full PPF funding
On the go: The 5,450 defined benefit schemes in the UK are inching back towards surplus on the Pension Protection Fund's measure, with an aggregate deficit of just £8.6bn.
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News
FTSE350 pension deficit rises to £45bn
On the go: The total deficit of FTSE350 companies’ defined benefit pension schemes increased to £45bn from £41bn at the end of February. The move was caused by an increase in liabilities to £811bn from £806bn, partially offset by asset values increasing to £766bn from £765bn, according to Mercer figures released this week.
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News
Regulator turns focus to DB sponsors’ long-term plans
Trustees and sponsors of defined benefit pension schemes will have to recognise a long-term funding target for their plans, under guidance set out on Tuesday by the Pensions Regulator.
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News
UK pension deficit falls by £80bn to £210bn
On the go: January saw a significant in improvement in the funding level of the UK’s 5,450 defined benefit pension schemes.
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OpinionTPR: 2019 must see member security improve
The Pensions Regulator’s Fiona Frobisher reminds us of the regulatory developments scheduled to improve pensions in 2019, and ramps up the pressure on poorly run small schemes to consider the emerging regulated consolidation market.
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OpinionWhat to consider when agreeing a recovery plan in 2019
Matt Harrison, managing director at covenant specialists Lincoln Pensions, explains how recovery plans have been agreed in practice and how this may change due to an evolving regulatory landscape.
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FeaturesHighland scheme mulls insurance policy for ill health retirement costs
The Highland Council Pension Fund is considering the option of taking out an insurance policy to protect the scheme against substantial ill-health retirement costs.
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News
DB funding slips lower over December
On the go: Surplus in the UK's defined benefit pension schemes evaporated over December, according to a funding measure used by the Pension Protection Fund.
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News
Whitbread derisks pension scheme with £380m one-off payment
On the go: The leisure group Whitbread has agreed with the trustee of its defined benefit pension scheme, the Whitbread Group Pension Fund, to make a one-off contribution to the pension fund of up to £380m.
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News
UK DB deficit shows modest improvement over 2018
On the go: The aggregate accounting deficit of all UK private sector defined benefit pension schemes has shown a modest improvement over the year, according to JLT Employee Benefits, falling to £107bn at December 31 2018 from £119bn a year earlier.
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OpinionPPF remains well-equipped to meet DB financial challenges
Despite recent large claims, the Pension Protection Fund remains robust and well-equipped to meet the challenges that exist within the defined benefit pension scheme universe it protects, says Andy McKinnon, the lifeboat’s chief financial officer.
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News
DB schemes move into surplus
On the go: UK defined benefit pension schemes have moved into surplus after the Pension Protection Fund made changes to the way the PPF 7800 Index is calculated.
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FeaturesShell launches online hub to meet member demand
Royal Dutch Shell has introduced a new financial education hub for employees, as members of the company’s pension fund show appetite for online communications.