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Latest DB news
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.
European insurance giant acquires Pension Insurance Corporation in £5.7bn deal
Pension Insurance Corporation, the specialist bulk annuity provider, has been acquired by European insurance giant Athora in a deal worth an estimated £5.7bn.
Call for levy reform as pension schemes hit with ‘surprise’ £15m PPF bill [updated]
Pensions UK is calling for urgent government action after DB pension schemes were unexpectedly billed for an administration levy connected to the PPF, with the largest schemes facing bills of hundreds of thousands of pounds.
PLSA rebrands to Pensions UK as part of fresh five-year strategy
The pensions industry’s trade body has rebranded itself as Pensions UK following a detailed review of its strategy, and set out a plan to expand its reach and influence over the next five years.
New mortality model signals first rise in pensioner life expectancy since pandemic
The latest update to the Continuous Mortality Investigation model has shown an increase in reported life expectancies for retirees for the first time in several years.
Bus company scheme exits PPF assessment with buy-in
Insurance company Just Group has helped a pension scheme exit the Pension Protection Fund’s assessment period through a £5m buy-in.
Features and analysis
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.
How LDI managers are getting ready for the rest of 2024
Following recent warnings about a potential return of deflation, the onus is on LDI managers to ensure their portfolios are prepared.
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
How LDI managers are getting ready for the rest of 2024
More defined benefit news
Three quarters of trustees are open to using surplus release power
The government intends to make changes to the Pensions Act 1995 to allow trustees to change defined benefit pension scheme rules to facilitate surplus release.
Relief for DB schemes as government pledges action on section 37 issues
The DWP has said the government will legislate to address the issues posed by the Virgin Media-NTL case and allow for retrospective actuarial approval to be given to historic amendments.
‘Game changer’: Pension Schemes Bill laid before parliament
The government will today introduce the much-anticipated Pension Schemes Bill to parliament, setting the stage for a wide-ranging and ambitious overhaul of workplace pensions in the UK.
Trustees urged to consider all endgame options as rule changes loom
The Pensions Regulator has set out new guidance around endgame options - but has acknowledged that more will be needed as the government brings in new rules.
Comment & opinion
The Friday Takeaway: We’ve got bills, they’re multiplying
SPP: How the government’s proposed DB surplus release rules will work
The Friday Takeaway: Mulling over the road to reform
Railpen chief: Lessons from six months in pensions – and where we go next
Virgin Media v NTL Pension Trustees: where are we now?