All scheme funding articles – Page 29
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Features
How schemes could use secondary debt market after Kaupthing ruling
Legal experts have said a High Court ruling allowing schemes to sell section 75 debts – triggered when an employer leaves a pension scheme – could reduce running costs by speeding up the exit of sponsoring employers.
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Opinion
Cash flow certainty versus closer ties to employer’s fortunes: how to evaluate SLPs
Matthew Ambler from law firm Gordons addresses the drawbacks of using Scottish liability partnerships as part of scheme funding deals.
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Opinion
Where is innovation coming from in fiduciary management?
Barnett Waddingham’s Simon Cohen, Buck Consultants’ Brian McCauley, Goldman Sachs Asset Management’s Carolyn Tavares, Russell Investments’ Shamindra Perera, Sackers’ Stuart O’Brien, and Towers Watson’s Pieter Steyn compare experiences of innovation within the fiduciary management arena, in the final part of this discussion.
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News
Selex grows surplus to £72m but future costs rise
The £530m Selex Pension Scheme has further grown its funding surplus, but its pensions head is unfazed about overfunding as the interest rate environment has pushed up future service costs.
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Opinion
A good problem to have? Dealing with scheme surpluses
Talking head: The NAPF’s Helen Forrest talks about how the organisation’s better-funded members are dealing with the prospect of scheme surpluses.
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Opinion
Regulator: Kodak, UK Coal, and how we work with schemes
Talking head: The Pensions Regulator’s interim chief executive Stephen Soper sets out how it works with employers and schemes on funding, and discusses some high profile recent cases.
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Features
Caterpillar scheme delays derisking over stock volatility concerns
Caterpillar Pension Plan has postponed a decision to cut its equity exposure to increase its liability-driven investment allocation as a result of concerns over stock market volatility.
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News
Union mulls counter proposals to rival USS reforms
The UK's largest trade union for academics is debating whether to submit counter reform proposals for the Universities Superannuation Scheme, as negotiations continue over the future of one of the UK's biggest remaining final salary pension schemes.
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Opinion
Five key charts from the PPF's Purple Book
Flying in the face of almost everything else pensions-related this year, the latest annual edition of the Pension Protection Fund's Purple Book revealed few if any big shocks.
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Features
RSPB scheme migrates to contingent assets to underpin 17-year recovery plan
The bird protection charity RSPB has set up a £56.4m contingent asset agreement with its pension scheme as part of a wider effort to reduce the funding deficit.
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News
Channel 4 looks to shut off DB accrual to quell deficit increase
Channel 4 plans to close its defined benefit pension scheme after its deficit more than tripled, having paused its consultation to give members a chance to understand the personal impact of the changes.
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Features
USS revamps covenant assessment model in face of funding challenge
The Universities Superannuation Scheme has opted for a more thorough covenant assessment due to changes in higher education funding and an expected increase in its deficit from this year’s triennial valuation.
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News
Risk management key trustee challenge as complexity criticised
An industry survey has shown understanding risk is the biggest challenge for defined benefit pension scheme trustees, sparking debate over whether trustees need more sophistication, or whether scheme choices need simplifying.
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Features
Diageo tips into matching assets after hitting trigger
Diageo Pension Scheme has switched 5 per cent of its assets from its growth to its matching portfolio after hitting a derisking trigger, tipping its investment balance towards holdings that track liabilities.
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NewsRegulator nets £184m from Lehmans as cases treble
The Pensions Regulator’s unprecedented £184m settlement for the members of the Lehman Brothers pension scheme is its biggest trophy in a growing anti-avoidance campaign, with the number of investigations trebling since last year.
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News
IASB proposal could hit sponsor-scheme funding strategies
A proposed change to pensions accounting guidance around surpluses could lead to trustees having to renegotiate their financing arrangements with employers and shifting towards non-cash vehicles.
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News
Interest rate uncertainty a concern for employer covenants
Interest rate rises could have a negative effect on covenant strength as some companies are forced to refinance at higher rates, advisers have said, and trustees should keep a watching brief to mitigate any resultant impact on their sponsors' ability to pay scheme contributions.
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FeaturesRBS reviews recovery plan as interest rates hurt funding level
The Royal Bank of Scotland has extended its pension fund recovery plan and increased contributions following a slip in the funding level.
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Opinion
Employer growth emphasis will separate the wheat from the chaff
In the latest Informed Comment, BDO Pensions Advisory’s Richard Farr analyses schemes’ employer covenant conundrum, arguing the new employer growth objective has harmed the security of members’ benefits.
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Opinion
Last DB schemes standing: A snapshot of FTSE 100 benefits
Consultancy LCP yesterday released its Accounting for Pensions 2014 report giving an insight into the pension arrangements of some of the country's biggest companies. The report at times paints a bleak picture for defined benefit schemes.