All scheme funding articles – Page 21
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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
Where possible, charities have taken the obvious steps to address their defined benefit pension fund issues, such as closing their schemes to future accrual.
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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.
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OpinionHow contingent assets can benefit schemes
Anthea Whitton, partner at law firm Eversheds Sutherland, explains how contingent assets can benefit sponsoring employers and scheme trustees.
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FeaturesCYBG scheme closure highlights industry's 10-year funding headache
Banking group CYBG has closed its defined benefit pension scheme to future accrual, wiping £131m from its liabilities and avoiding increased contributions amid worsening market conditions.
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FeaturesGKN scheme closures and debt issuance to combat £1bn deficit
Engineering firm GKN has closed its UK defined benefit pension schemes to future accrual, and plans to use proceeds from a debt issuance to plug a £1bn deficit on its UK post-retirement obligations.
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OpinionThe PPF’s funding strategy: Flight path to self-sufficiency
The Pension Protection Fund’s Hans den Boer says why the PPF cannot be complacent despite its healthy funding position.