All scheme funding articles – Page 20
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OpinionNew regulator powers will only accelerate DB disappearance
From the blog: The government has floated well-intentioned reforms intended to strengthen the arm of regulators against dodgy bosses, but the proposed changes risk undermining trustees and making further scheme closures more likely.
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News
DB schemes inch closer to full PPF funding
On the go: Defined benefit schemes in the UK are nearing full funding on the Pension Protection Fund's section 179 basis, with an aggregate deficit of £62.8bn at the end of July.
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NewsFTSE 100 steps up derisking drive as deficits shrink
Defined benefit schemes of FTSE 100 employers continue to derisk investment portfolios at a rapid rate, despite mismatching of assets and liabilities generating attractive returns over the last year.
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FeaturesBT’s 'sleight of hand' bond gift slashes accounting deficit
BT’s defined benefit scheme has seen its accounting deficit drop by £1.8bn over the past quarter after investing in the bonds of its own sponsor, but some experts have questioned whether the move has any meaningful impact on member security.
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OpinionWhat the DWP's new DB funding code could mean for trustees
In March this year, the Department for Work and Pensions published its white paper on 'Protecting Defined Benefit Pension Schemes'.
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OpinionSchemes must be prepared for an interventionist regulator
Even before the publication of the Department for Work and Pensions’ recent consultation on developing “a stronger Pensions Regulator”, it was becoming increasingly apparent that the regulator means what it says with its new “clearer, quicker, tougher” mantra.
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News
Less than a third of trustees think TPR will monitor fairly
Just 31 per cent of trustees are confident the Pensions Regulator will police funding agreements fairly and effectively in future, according to a survey by consultancy Willis Towers Watson.
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NewsS&N scheme to review impact of pubs takeover
Trustees of the Scottish & Newcastle Pension Plan will be assessing the impact of a recent corporate acquisition made by the pension scheme’s parent company Heineken UK, as part of a full covenant review this year.
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Opinion
How can schemes assess employer covenant strength?
Darren Redmayne chuckles good-naturedly, at what must be the thousandth time a journalist has asked whether the FTSE 100’s recently revealed accounting surplus means their defined benefit pension problems have gone away.
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News
Select committees question regulator’s ambition on DB
On the go: The Pensions Regulator’s commitment to engaging proactively with poorly funded defined benefit schemes and their employers has been called into question by two parliamentary select committees, in a stinging letter that discusses the future of chief executive Lesley Titcomb.
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News
FTSE 100 schemes in surplus, but experts warn that risks remain
FTSE 100 pension schemes have reflected a year-end accounting surplus for the first time since the financial crash, according to consultancy LCP, but experts say trustees and sponsors should continue to be prudent in case of potential future market downturns.
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News
DB deficits slip back up
The UK's aggregate defined benefit deficit increased over March to £115.6bn from £72.1bn on a section 179 basis, according to Pension Protection Fund estimates.
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News
TPR fires warning shot over dividend to DRC balance
Defined benefit trustees and sponsoring employers should act sooner rather than later to secure members' pensions, the Pensions Regulator has said in its latest annual funding statement, and warned against prioritising dividends.
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OpinionDB white paper generates as many questions as answers
The Pensions Regulator wants to be clearer, quicker and tougher. The white paper has come back with a batch of proposed new powers that read, at first, more like fast and furious.
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OpinionSuperfund – shoot first
Editorial: The Department for Work and Pensions has kept its word with the publication of its highly anticipated white paper, even managing to deliver it ahead of its spring target.
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NewsFines for DB negligence leave industry split
Employers who wilfully or recklessly put their defined benefit pension schemes at risk are in the firing line of new punitive fines announced in a government policy statement released on Monday.
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News
New British Steel Pension Scheme meeting size and funding tests
Under the terms of the agreement between Tata Steel UK and the BSPS relating to the regulated apportionment arrangement, the New BSPS will only go ahead if certain conditions are met – including conditions related to size and funding level.
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News
DB deficits increase in February
Defined benefit deficits across schemes eligible for the Pension Protection Fund have increased to £72.1bn at the close of February 2018, from a deficit of £51bn at the end of January 2018.
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OpinionLearning the lessons of Carillion
The industry is once again watching with interest and some discomfort as Frank Field and the select committee conduct their inquiry on Carillion’s failure and the impact on its pension schemes.
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OpinionAvoid rear-view mirror driving
From the blog: A lot of schemes use funding level triggers as part of a derisking journey. Once a certain funding level is met then you derisk by disinvesting from growth assets to add to the matching assets. This reduces the level of risk of the investment strategy but also reduces the expected returns.