All scheme funding articles – Page 22
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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.
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NewsQinetiq shields funding level with boost to LDI
The Qinetiq Pension Scheme has seen a £605m boost to its liability-driven investments and has begun discussions over its long-term future as it nears full funding.
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News
Pensions Institute: Relax DB promises to tackle PPF drift
Stressed schemes and employers should be allowed to reduce pension increases and gain easier access to Pension Protection Fund-plus benefit-restructuring methods in order to minimise “PPF drift”, a new academic paper has said.
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News
Scheme support levels at lowest since financial crisis
Affordability of FTSE 350 defined benefit pension promises has retreated to levels not seen since the global financial crisis, a new report has found, putting pressure on trustees of mature schemes.
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News
Increased use of RAAs is 'inevitable', experts say
The Pensions Regulator has agreed a regulated apportionment arrangement with Hoover, as experts say the number of RAAs, as well as the amount of due diligence involved, is likely to increase.
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Features
IMI derisks with buy-in and Pie
Specialist engineering company IMI has completed a pension increase exchange exercise and a buy-in, as trustees become more comfortable with liability management measures.
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News
Regulator zeroes in on dividends
The Pensions Regulator has targeted employers who pay large dividends while underfunding defined benefit pension schemes in its latest annual funding statement, increasing the pressure on trustees to secure as much funding as possible.
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Features
Dyfed 97% funded but private schemes lag behind
The Dyfed Pension Fund is approaching solvency as an investment review is set to largely stick with the scheme’s equity-heavy asset allocation, making for a sharp contrast to the situation at many private sector schemes.
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OpinionHow has DB changed in 20 years?
From the blog: April 2017 saw the 20 anniversary of the introduction of scheme actuaries. I don’t expect there were many parties in celebration, but it made me think about how scheme actuaries, and defined benefit pensions, have changed over 20 years and what might happen next.
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FeaturesPost Office surplus raises union affordability complaints
The Post Office section of the Royal Mail Pension Plan remains in surplus, its latest funding update shows, just weeks after it was closed to future accrual amid union consternation.
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FeaturesLeonardo scheme ups hedge after Care switch
The Leonardo Electronics Pension Scheme has adapted its liability hedging strategy to reflect the career salary benefit changes implemented last year to reduce risk and costs.
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Opinion
Does ‘gilts plus’ lead to inappropriate investment strategies?
Should valuation assumptions be a function of the investment strategy? What does the regulator say about the gilts-plus approach? Paul McGlone from Aon Hewitt, David Weeks from the Association of Member Nominated Trustees, Jonathan Reynolds from Capital Cranfield, Leslie Scrine from the M&G Group Pension Scheme, Andrew Cheeseman from Pan Trustees and Andrew Young from the Pensions Regulator discuss scheme valuation methods.
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NewsArcadia agrees shorter recovery plans as Green feels pressure
Arcadia Group has agreed to increase its scheduled contributions to its two pension schemes, a sign that public pressure and 'naming and shaming' may be having some impact.
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OpinionRaising debt to fund pensions - what to bear in mind
From the blog: FTSE engineering company GKN might consider issuing bonds of up to £250m in order to help finance its UK pension deficit, it has recently been reported in the Times.
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FeaturesCentrica drills for returns with high-yield allocation
The Centrica Combined Common Investment Fund, which manages holdings for the energy giant’s pension schemes, has trimmed its exposure to corporate bonds, reweighting its portfolio towards high-yield debt.