All scheme funding articles – Page 21
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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.
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OpinionCold call from a pensioner
Editorial: An elderly gentleman called me a few days ago at work. He was looking for someone who could help him access his pension pot.
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News
Carillion directors called to joint inquiry
The Work and Pensions Committee and the Business, Energy and Industrial Strategy Committee are starting a joint inquiry into the collapse of Carillion, which has left thousands of employees and pension scheme members in limbo.
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NewsMay's promise to protect pensions lacks concrete solutions
Theresa May has pledged to stop executives who try to “line their own pockets” by putting pension schemes at risk, but questions over resourcing and legislative issues remain.
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News
May promises to stop pensions being put at risk
Theresa May has promised to stop executives from putting pensions at risk.
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FeaturesUnilever forks out £600m to tackle £1.2bn DB deficit
Unilever has contributed £600m to its scheme, after an actuarial valuation revealed a £1.2bn deficit. Meanwhile, the trustees have taken steps to ensure they can act quickly should there be a significant corporate event.
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News
Companies reduce scheme deficits by £8bn
The combined pension deficit of FTSE 350 companies improved by £8bn over 2017, while assets went up more than £44bn to £781bn, a pensions consultancy said.
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OpinionAn MoU can ensure effective covenant monitoring
Aon Hewitt’s Aidan O’Mahony explains how a memorandum of understanding agreement can lead to more effective covenant monitoring.
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NewsFunding levels up as FTSE 100 companies cut back DB
The UK’s blue chip companies have cut back their defined benefit servicing costs by around 15 per cent over 2017, analysis by JLT Employee Benefits has found, while funding levels continue their painstaking recovery.
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Features
CPI, admin and Mums: Top 5 DB and derisking stories from 2017
Year in review: Funding and liability management took centre stage during 2017, as the debate over defined benefit pension scheme sustainability and member protection ramped up.
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FeaturesBAE actuarial switch sidesteps funding slump
BAE Systems has ditched gilts-based valuations for its UK defined benefit schemes after gaining regulatory approval, freezing its deficit at 2014 levels and sparking controversy in the pensions industry.
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OpinionHow the PPF manages risk
The Pension Protection Fund’s Hans den Boer explains the pensions lifeboat’s approach to risk.
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Features
De La Rue cuts pension increases to ease funding pressures
Trustees of the De La Rue defined benefit pension scheme have agreed to cut inflation-proofing on member benefits, wiping an estimated £70m off the security specialist’s accounting deficit.
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NewsSony zooms in on buy-in saving with medical data
The UK scheme of Japanese electronics giant Sony agreed a buy-in in May this year, covering its highest liabilities, with medical underwriting carried out after the deal.
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NewsEconomic gloom overshadows quiet Budget for pensions
Autumn Budget 2017: With chancellor Philip Hammond omitting pensions almost entirely from his speech, it was, as Barnett Waddingham senior consultant Malcolm McLean put it, a “steady as you go Budget”.
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News
Progress towards long-term objectives tops list of DB concerns
Concerns over long-term objectives, managing funding constraints and keeping up with change rank at the top of concerns held at defined benefit schemes, followed by the task of balancing stakeholder interests, new research has found.
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OpinionWhat charities can do to address DB affordability
When it comes to addressing the affordability of charity defined benefit pension funds, Ruth Bamforth at Walker Morris recommends a proactive and open approach.
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OpinionRate rises are not the solution for DB woes
From the blog: After its meeting on September 14, the Monetary Policy Committee issued its strongest guidance yet that it expects to raise interest rates from their historic 10-year low.
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OpinionBillions to go backwards – now how do we move forwards?
Pensions Expert 20th Anniversary: The Association of Consulting Actuaries’ Bob Scott looks at how the past 20 years have transformed pensions and what the future might have in store.
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OpinionWhat to look out for with sectionalisation
There are a number of reasons trustees and employers may want to sectionalise their schemes, but it is not always plain sailing, according to Laura McLaughlin and Thibault Jeakings at law firm CMS.