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Latest DB news
TPR: DB schemes must embrace opportunities of Pension Schemes Bill
Speaking at the Pensions Expert DB Strategic Summit this week, TPR’s David Walmsley urged delegates to embrace the opportunities of reforms currently being developed, including through the Pension Schemes Bill.
Handful of providers dominate professional trustee market, data shows
LCP’s annual survey of professional trustees shows a maturing sector with growth slowing amid regulatory scrutiny.
Bell pledges to scrap PPF admin levy through Pension Schemes Bill
Pensions minister Torsten Bell has pledged to abolish the Pension Protection Fund’s administration levy after an industry campaign against the charge.
Majority of DB schemes ‘need covenant work’ before surplus can be released
Covenant experts say pension fund trustee boards must ensure their sponsor covenant information reflects their surplus position and is appropriate to support any future surplus release decisions.
Trustees to shoulder more responsibility for admin improvements, TPR says
The regulator has published a report based on 12 months of engagement with leading administrators and set out areas of strength and challenges that need addressing.
Your Expertise Wanted: Private Assets in Focus
CACEIS, in association with Pensions Expert, is surveying pensions professionals in the DB space to find out about their experiences investing in private markets. Click here to participate in our short survey.
Majority of DB schemes ‘need covenant work’ before surplus can be released
Covenant experts say pension fund trustee boards must ensure their sponsor covenant information reflects their surplus position and is appropriate to support any future surplus release decisions.
Trustees to shoulder more responsibility for admin improvements, TPR says
The regulator has published a report based on 12 months of engagement with leading administrators and set out areas of strength and challenges that need addressing.
SPP pushes for bill amendment to scrap PPF admin levy
Liberal Democrat MPs Steve Darling and John Milne have tabled the amendment to the Pension Schemes Bill, aimed at ensuring the PPF can pay costs from its existing reserves rather than charging defined benefit pension schemes.
Bulk annuities latest: Royal London completes 10th buy-in of the year
Rounding up the latest activity in the bulk annuity market, including Rothesay’s double buy-in for a manufacturing company and two sub-£5m pension schemes insured by Just Group.
Latest bulk annuity deals
Features and analysis
Five Questions For… Morten Nilsson, Brightwell
Pensions Expert spoke to Brightwell chief executive Morten Nilsson about the government’s surplus release plans, and how he envisages sharing the BT Pension Scheme’s experiences with the wider market.
Pensions lawyers call on government to resolve s37 uncertainty
DB pension schemes have been left in legal limbo in relation to section 37 confirmations, with the High Court expected to take several months to produce its latest judgement.
Innovation needed to stop illiquid assets delaying bulk annuities
Consultancy giant Aon has written to insurers calling for more innovation on tackling illiquid assets held by pension schemes approaching the bulk annuity market.
Outlook 2025: New insurers set to make waves in busy DB market
From an evolving bulk annuity market to debates over the use of pension scheme surpluses, next year looks set to be as busy as ever for the defined benefit sector, writes Alex Janiaud.
Changing course: The case for reinvesting pension scheme surpluses
Ahead of chancellor Rachel Reeves’ Mansion House speech on Thursday, Pensions Expert explores changing attitudes towards defined benefit scheme surpluses and how they could be used to benefit members, employers and the wider economy.
Five Questions For… Morten Nilsson, Brightwell
Pensions lawyers call on government to resolve s37 uncertainty
Innovation needed to stop illiquid assets delaying bulk annuities
Outlook 2025: New insurers set to make waves in busy DB market
Changing course: The case for reinvesting pension scheme surpluses
More defined benefit news
Pre-Budget rumours spark record lump sum withdrawals, data shows
UK pension savers withdrew a record £10.4bn from their pensions using their tax-free cash allowance in the six months to the end of March, according to Financial Conduct Authority data.
Government seeks to mitigate Virgin Media issue with Pension Schemes Bill amendments
Trade bodies, including the representative groups for actuaries and pension lawyers, have been lobbying the Department for Work and Pensions for months in relation to the issue, which relates to the interpretation of section 37 of the Pension Schemes Act 1993.
Retailer escapes regulatory intervention with ‘proactive’ action on PPF-bound scheme
The owner of the Edinburgh Woollen Mill chain collaborated with trustees and the regulator to secure a £7m cash injection and lift the scheme out of the PPF’s assessment process.
Scotland’s public finance minister to give keynote speech at DB Strategic Summit
Ivan McKee will explore how the Scottish government is seeking to enhance its partnership with investors and make Scotland a more attractive place for investment.
Discretionary increases fall as inflation drops from 2022 peak
Fewer defined benefit pension schemes are offering discretionary increases, research shows, even as the consumer prices index is starting to creep higher.
SPP highlights pensions industry apprenticeships as A-level results land
As school students across England, Wales and Northern Ireland receive their A-level results, the Society of Pension Professionals has highlighted a range of apprenticeships offered across the retirement industry.
Brookfield to enter UK market through £2.4bn Just Group acquisition
North American insurance giant Brookfield will buy Just Group in a £2.4bn deal to establish itself in the UK bulk annuity market.
DB schemes ride out Q2 volatility to retain strong funding position
Ongoing tariff negotiations and the Autumn Budget are among the risks trustees must navigate over the coming months, as well as ongoing discussions around surplus release.
Comment & opinion
Raising professional trustee standards as TPR plans oversight
The Friday Takeaway: Pay your pensions administrator some attention!
Assessing covenant reliability in an increasingly unpredictable world
Covenant comes of age: A journey from crisis to confidence
Why you should attend the Pensions Expert DB Strategic Summit