All scheme funding articles – Page 8
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NewsGovt presses ahead on public sector schemes cost-control reform
The government has announced its intention to push ahead with reform of the cost-control mechanism used in public sector pensions, despite criticism from some in the industry.
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NewsFTSE 100 DB surplus not immune to funding code and inflation shocks
On the go: FTSE 100 defined benefit schemes' positions grew again in Q3, with the post-pandemic recovery leaving their combined IAS19 surplus at £50bn. But LCP has warned that inflation, coupled with stricter rules under the new defined benefit funding code, could still do damage.
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NewsPPF levy to fall by £105m in 2022-23
On the go: The Pension Protection Fund has announced that it expects to collect £415m from its levy payers in 2022-23, a reduction of £105m from the previous year.
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NewsStrike ballot set for October in ongoing USS row
On the go: The University and College Union has announced it will ballot staff over strike action in October following a breakdown in negotiations over the Universities Superannuation Scheme’s controversial 2020 valuation.
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NewsBulk annuity deals’ strong momentum to carry on into 2022
On the go: Around £25bn worth of bulk annuity transactions is expected by the end of the year, recovering from a slow start and creating momentum expected to carry over to trades in 2022, according to Aon’s latest risk settlement market update.
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NewsInflation jump poses ‘a real challenge’ for pension schemes
The surge in inflation in August – the highest since records began in 1997 – could prove “a real challenge” for pension schemes, experts have warned, especially if it proves not to be a transitory phenomenon.
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OpinionThe last great risk facing defined benefit pension schemes
Insight Investment head of solution design Jos Vermeulen argues that longevity swaps are an appealing solution for schemes, but further standardisation is required to make these transactions more popular and cost-effective.
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NewsMorrisons schemes granted additional security in takeover bid
On the go: An agreement has been reached between a private equity manager and the trustees of Morrisons’ defined benefit schemes to grant additional security, as the attempted takeover of the supermarket chain progresses.
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NewsDB schemes’ surplus increases £20.8bn in August
On the go: The aggregate surplus of the 5,318 defined benefit schemes in the Pension Protection Fund 7800 index increased by £20.8bn in August.
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NewsUSS pushes ahead with reform proposals despite strike threat
The Universities Superannuation Scheme trustee is to push ahead with a reform package agreed by USS employers, despite threats of strike action from the University and College Union.
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NewsPandemic impacts DB schemes’ deficit recovery periods
On the go: The deficit recovery periods of defined benefit schemes with valuations in 2020-21 was impacted by the pandemic-led crisis, with these schemes having a smaller reduction than expected, according to new analysis.
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NewsFTSE 350 DB schemes’ deficit rises £2bn in August
On the go: Defined benefit schemes sponsored by FTSE 350 companies saw their deficits rise to £87bn in August, an increase of £2bn from £85bn in July.
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NewsStrike action ‘inevitable’ after employers agree USS reforms
The University and College Union is to ballot its members over industrial action, branding strikes “inevitable” after employers agreed to press ahead with reforms of the Universities Superannuation Scheme.
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NewsOmbudsman facing 'significant queue of work' from Covid-19
On the go: The Pensions Ombudsman is expecting demand to increase by 10 per cent in light of Covid-19, but is already facing a “significant queue of work” caused by the pandemic, according to its 2021-24 corporate plan.
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NewsIsle of Man civil servants to choose between DB and DC
On the go: Civil servants on the Isle of Man are to be given a choice between an existing defined benefit scheme and a new defined contribution arrangement, the island’s government has announced.
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NewsActuaries propose changes to public sector pension increases
The Association of Consulting Actuaries is calling on the government to change the way it calculates pension increases for unfunded public sector schemes, proposing that these are based on economic growth rather than inflation, as this would be “fairer” for future generations of taxpayers.
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NewsHousing associations to suffer following SHPS valuation
On the go: Housing associations are facing average contribution rate increases of 17 per cent following the Social Housing Pension Scheme’s 2020 valuation, a full 50 per cent higher than expected under the current deficit repayment plan, LCP has said.
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NewsUltra pension scheme set for £100m acquisition windfall
On the go: A proposed £2.57bn cash acquisition by Cobham Ultra Acquisitions of Ultra Electronics Holdings will see the defence company’s defined benefit scheme receive an extra £100m in funding.
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NewsDaily Mail pension schemes to benefit from RMS sale
On the go: Daily Mail and General Trust pension schemes could stand to benefit from the £1.4bn sale of insurance risk business RMS to Moody’s that is part of a broader restructuring at DMGT.
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NewsChallenges of green regulation should not be underestimated
On the go: More than a quarter of defined benefit pension schemes are only aiming for minimum compliance with new rules and regulations around climate change, the challenge of which should not be underestimated, LCP has warned.