All Surplus articles – Page 9
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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
The Pension Protection Fund’s surplus has the power to significantly alter the fortunes of the UK’s defined benefit members and employers, writes Society of Pension Professionals president Paul McGlone, but deciding when, how and to whom to distribute it will prove an intriguing challenge.
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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.
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News
Rentokil sets up escrow as funding level tips into surplus
The Rentokil Initial Pension Scheme has set up an escrow account to prevent employer contributions becoming trapped in the scheme, after its funding level reached surplus.
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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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OpinionEditorial: Over-filling your boots
There are a few areas of scheme management where trustees and the employer are in natural tension, and one of these is the matter of surpluses.
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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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Features
Xerox to protect repayment power amid legal uncertainty
Xerox Final Salary Pension Scheme is planning a resolution allowing it to continue to make repayments to its sponsor, but legal experts are split on whether such a move is necessary or will even be effective.
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News
Invensys terminates reservoir trust as surplus grows
Invensys Pension Scheme has exceeded full funding on a technical provisions basis and has taken the unusual step of terminating a reservoir trust that was set up to provide funding security after the employer was purchased.