All Surplus articles – Page 7
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News
Field questions Thomas Cook trustee attempts to secure funding
On the go: Following the collapse of Thomas Cook, the chair of the Work and Pensions Committee Frank Field MP has probed the chair of the airline’s pension scheme trustee board on several issues.
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NewsMPS surplus share uplift would not be 'transformational', say trustees
Former miners campaigning for the government's 50/50 split of their pension fund’s surplus to be renegotiated have been told by their own trustees the impact of such a change could be underwhelming.
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News
DB deficit grows during May
On the go: UK defined benefit funding levels dropped by four percentage points on aggregate at the end of May, according to the latest update from the Pension Protection Fund.
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News
600 Group completes £201m buyout with PIC
On the go: Yorkshire-based engineering firm 600 Group has finalised the buyout of its UK pension scheme liabilities with Pension Insurance Corporation.
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News
Plumbers’ scheme set to close to future accrual
On the go: The multi-employer defined benefit scheme for the plumbing industry will close to future accrual from June 30, despite an apparently healthy funding level.
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News
Debenhams trustees see hope for schemes after sponsor refinancing
On the go: Trustees of the Debenhams pension schemes have welcomed the news that its sponsor has agreed a £200m refinancing of its debt, including packages to improve the security of member benefits.
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News
Regulator turns focus to DB sponsors’ long-term plans
Trustees and sponsors of defined benefit pension schemes will have to recognise a long-term funding target for their plans, under guidance set out on Tuesday by the Pensions Regulator.
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OpinionThe unseen funding target
Most defined benefit schemes are headed for buyout or self-sufficiency, but few acknowledge this aim in any formal way. Regulators look set to change this soon, writes Society of Pension Professionals president Paul McGlone.
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News
UK DB deficit shows modest improvement over 2018
On the go: The aggregate accounting deficit of all UK private sector defined benefit pension schemes has shown a modest improvement over the year, according to JLT Employee Benefits, falling to £107bn at December 31 2018 from £119bn a year earlier.
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News
CDC consultation aims to avoid Dutch pitfalls
Collective defined contribution schemes will be designed to minimise intergenerational unfairness, according to the Department for Work and Pensions, as it announced plans to legislate for the benefit structure in late 2019.
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OpinionSurplus poses opportunities and challenges for PPF
It was recently reported that the Pension Protection Fund is considering distributing some of its surplus.
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News
FTSE 100 schemes in surplus, but experts warn that risks remain
FTSE 100 pension schemes have reflected a year-end accounting surplus for the first time since the financial crash, according to consultancy LCP, but experts say trustees and sponsors should continue to be prudent in case of potential future market downturns.
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News
Further details emerge on consolidator safeguards
Investors in The Pension SuperFund will not begin to receive returns on their capital until its consolidated schemes have passed a 115 per cent funding target, its executives have told the Work and Pensions Committee.
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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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News
Hedged Aviva schemes survive rate cut
Pension schemes sponsored by insurance giant Aviva have reported a marked increase in their accounting surplus owing principally to falling interest rates, but experts warn of further pain for schemes which are not hedged against interest rate risk.
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Opinion
Uncomfortable truths? Pensions Institute takes aim at employers
From the blog: It appears another 'unacceptable face of capitalism' was revealed last week, with the Pensions Institute launching an indictment of employers who “milk and dump” their pension schemes.
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News
Johnston Press longevity study cuts deficit by £53m
Regional publishing group Johnston Press has cut its IAS 19 deficit by £63m in the past year, with close to 85 per cent arising from changes to the mortality assumptions.
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NewsSiemens issues resolution to prevent trapped surplus
Siemens, one of the world's largest electrical companies, is allowing its defined benefit scheme to make payments to the sponsoring employer, as schemes scramble to maintain their ability to prevent trapped surplus.
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NewsDebenhams splashes out more on recovery despite surplus
Debenhams pension scheme trustees have secured higher employer contributions as part of the recovery plan despite having reached an IAS 19 surplus earlier this year, demonstrating the discrepancies between two scheme funding calculation methodologies.
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News'Pointless' legislation risks trapped surpluses if schemes fail to act
Defined benefit scheme trustees must pass a resolution ahead of April 2016 if they wish to retain their current power to repay surpluses to their employer sponsors.