All scheme funding articles – Page 2
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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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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.
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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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NewsDB schemes’ surplus falls by £7.6bn in November
On the go: The aggregate surplus of the 5,131 defined benefit schemes in the Pension Protection Fund 7800 Index fell by £7.6bn in November.
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NewsHalf of defined benefit schemes now closed to future accrual
Fifty per cent of defined benefit schemes are now closed to future accrual, according to new figures from the Pensions Regulator.
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NewsMorgan Advanced Materials makes £67mn advance contribution
On the go: Manufacturing company Morgan Advanced Materials has agreed to make an accelerated contribution of £67mn to its UK defined benefit pension schemes, as part of a deal that will see the trustees increase inflation and interest rate hedging levels.
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NewsPPF: Funding worsened for some schemes due to market turmoil
The Pension Protection Fund is expecting some schemes to have a deterioration in funding due to the forced selling of assets in response to market turmoil, despite the overall improvement in the defined benefit sector, its chief finance officer and chief actuary has said.
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NewsWebinar: Pension Protection Fund 2022 Purple Book
The Pension Protection Fund will be publishing its annual analysis of the defined benefit sector on December 1.
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NewsLGPS employer contributions could rise despite improved funding
The Local Government Pension Scheme Scheme Advisory Board has noted the possibility of employer contribution rates rising, despite the expectation that many local authority schemes will have improved their funding positions — or even moved into surplus — as of March 31 2022.
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NewsSainsbury’s sets up £500mn loan to DB scheme for LDI crisis
Sainsbury’s has set up a £500mn loan facility to ensure its defined benefit scheme has enough liquidity to face collateral calls on its liability-driven investments.
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NewsTPR: Improved funding steering DB sector towards buyout
Around nine in 10 defined benefit trustees and employers now have a long-term objective in place, with positioning for a buyout more common than reaching a position of low dependency.