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Latest DB news
From £160bn to £11bn: Government reins in surplus release estimate
Data highlighted by the Society of Pension Professionals shows that the government’s central estimate for capital released from DB surpluses is less than 10% of the £160bn it cited at the launch of the Pension Schemes Bill.
Updated sole trustee code launched as TPR eyes increased oversight
The Association of Professional Pension Trustees has updated its code for sole trusteeship to include additional guidance on due diligence and measures providers should take to manage conflicts of interest.
TPT names trustee board for run-on superfund
The new superfund will be chaired by Aretas Trustees’ Nadeem Ladha, TPT has announced, along with professional trustees from Law Debenture, Bestrustees, and Capital Cranfield.
Box Clever members transferred to ITV Pension Scheme to end decade-long saga
Box Clever members have been receiving benefits level with PPF compensation since 2014, but will now see these restored in full and back payments made after members were transferred to the ITV scheme on 1 October.
Bulk annuities latest: Just, Canada Life and L&G announce deals
This week’s announcements include buy-ins for a transport and logistics company, Ford’s motor racing arm, and the producer of Irn-Bru.
Box Clever members transferred to ITV Pension Scheme to end decade-long saga
Box Clever members have been receiving benefits level with PPF compensation since 2014, but will now see these restored in full and back payments made after members were transferred to the ITV scheme on 1 October.
Bulk annuities latest: Just, Canada Life and L&G announce deals
This week’s announcements include buy-ins for a transport and logistics company, Ford’s motor racing arm, and the producer of Irn-Bru.
Aptia seeks to expand service offering with Atkin Pensions acquisition
Administration provider Aptia has also hired Stuart Heatley from Capita to lead a new unit that will provide bundled consultancy and actuarial services.
Logistics firm agrees buy-in for TPT master trust section
Seabourne Holdings has secured a buy-in with Just Group, insuring a section of the TPT DB Master Trust after five years of outsourced scheme management.
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
MPs to hear evidence from members, trustees, and TPR on pre-97 indexation
Campaigners, trustees, pension professionals and the Pensions Regulator will all give evidence to the Work and Pensions Committee in relation to discretionary increases and pre-97 indexation.
Addressing legacy data issues ‘has power to transform the pensions industry’
Pensions UK Annual Conference: Data quality was once seen as an administrative afterthought but is now a strategic priority fundamental to every aspect of scheme management, delegates heard.
Pensions UK Annual Conference - live blog coverage from Manchester
Live coverage from Manchester of the trade body’s first conference since its summer rebrand as Pensions UK.
Pensions industry confident of sector’s resilience in face of major reforms
More than three quarters of pensions industry professionals expect the sector to successfully navigate the significant reforms proposed over the next few years, according to new research from trade body Pensions UK.
‘More flexibilities’ for trustees to consider in DB Funding Code
Three-quarters of respondents quizzed during a recent webinar hosted by LCP said they believed there was more for trustees to consider, including aspects of covenant, surplus, and investment strategy.
Actuarial watchdog to develop technical guidance after Virgin Media rulings
The guidance will help actuaries who are asked to sign off on legacy pension scheme amendments retrospectively – an issue that has been plaguing certain private sector DB pension schemes since a 2023 court ruling.
L&G announces new leadership for institutional retirement business
Gareth Mee will take over as chief executive of Legal & General’s institutional arm, which includes its bulk annuity services, in December this year.
TPT plots superfund launch to support schemes targeting run-on
The planned superfund would be the second to hit the market after Clara Pensions, and the first not explicitly targeting an insurance endgame.
Comment & opinion
Superfunds stepping into the spotlight through Pension Schemes Bill
Why pensions administration is having a ‘Cinderella moment’
SPP: Is tail risk starting to wag the dog?
The Friday Takeaway: A gathering storm?
Irritation or anxiety? The financial impact of member data errors