All scheme funding articles – Page 23
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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.
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NewsHow would Scottish independence impact schemes?
Scotland's first minister Nicola Sturgeon will seek a second referendum on Scottish independence, to be held by spring of 2019, triggering concerns about the challenges a Yes vote would pose to UK pensions.
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NewsTrustees must secure funding after GM sells Vauxhall to PSA
General Motors has announced the sale of Vauxhall to French car manufacturer PSA Group, but will retain responsibility for the company’s UK pension obligations, sparking concerns over the security of members' benefits.
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OpinionHow to protect your scheme when Article 50 is triggered
Schemes should not be afraid to consider bold changes to funding and investments in the face of the UK’s exit from the EU being triggered, says Mercer’s Darren Masters.
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FeaturesMPs’ scheme votes for secured loans over REITs
The Parliamentary Contributory Pension Fund has simplified its property portfolio and invested proceeds in a European loans mandate, with a view to generating income.
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News
'Greenest of green papers' explores DB sustainability options but lacks urgency
A wide-ranging government green paper is exploring a number of possible changes to improve the sustainability of defined benefit schemes, but although experts welcomed the variety of issues discussed, some noted a lack of urgency.
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NewsHenderson agrees recovery plan after funding fall
Investment manager Henderson Group has agreed a recovery plan with its trustees after its defined benefit scheme fell out of surplus at the latest triennial valuation.
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OpinionWhat to bear in mind with asset-backed funding
Simon Daniel from Eversheds Sutherland weighs up the pros and cons of entering a Scottish limited partnership.
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OpinionHow should DB funding be measured?
Schemes should make the discount rate a function of the investment strategy rather than vice versa, says JP Morgan Asset Management’s Sorca Kelly-Scholte.
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NewsJohn Lewis slashes deficit with CPI switch
Retailer John Lewis has agreed a new recovery plan with the trustees of its defined benefit scheme after a large reduction in the funding deficit, due in part to a change in inflation indexing.
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News
Pinpointing life expectancy could cut deficits by £25bn
Using more accurate assumptions on longevity could be the key to bringing down defined benefit pension scheme deficits, new research shows.
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News
Industry finds no easy answers in dividends v deficits debate
Most FTSE 100 companies could clear their pension deficits in less than two years by withholding dividends, new research says. Experts have called for more focus on the contrast between dividend payments and deficit repair contributions, though others say there is no one-size-fits-all solution.