All Charities articles – Page 2
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Features
Testing times for charity DB pension schemes
At the beginning of last year, the Royal Society for the Protection of Birds closed its defined benefit pension fund and replaced it with a new defined contribution scheme.
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News
More than half of charity DB schemes are now closed to accrual
Charities are catching up with private sector employers as the number of defined benefit schemes closed to accrual jumped to 58 per cent at February 2018 from 43 per cent a year earlier, according to consultancy Hymans Robertson.
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OpinionWhat charities can do to address DB affordability
Where possible, charities have taken the obvious steps to address their defined benefit pension fund issues, such as closing their schemes to future accrual.
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News
Scottish charities face insolvency as exit debt bites
Community admission bodies in the Scottish Local Government Pension Scheme are in the middle of a debt crisis, accountants have said, but ceasing accrual or exiting the LGPS risks triggering unmanageable cessation debt and driving admitted bodies into insolvency.
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FeaturesCAF exits multi-employer scheme to set up own fund
The Charities Aid Foundation has withdrawn from a multi-employer defined benefit pension plan and established a new DB scheme, removing its exposure to other employers’ pension liabilities.
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Features
Salvation Army derisks as charities struggle with pension deficits
The Salvation Army has recently reduced risk in its UK defined benefit multi-employer scheme, having made efforts to tackle its pension deficit, but pension obligations are proving increasingly problematic for many charities.
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OpinionCharities feel the weight of auto-enrolment and wage hikes
Chancellor George Osborne’s recent announcement that the government wants to bring the living wage to £9 by 2020 will have had many charity finance directors scratching their heads, wondering where the extra income is going to come from.
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News
Charity puts centre up for sale to cover LGPS costs
The Multiple Sclerosis Society is to sell a support centre to meet the cost of its local government pension scheme membership, the latest charity to sell assets to cover defined benefit costs.
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NewsNational Trust DB scheme closes to future accrual after deficit jump
Conservation charity the National Trust is closing its defined benefit scheme to future accrual following a large increase in the deficit, but the union is considering further action to reopen negotiations.
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Features
RSPB scheme migrates to contingent assets to underpin 17-year recovery plan
The bird protection charity RSPB has set up a £56.4m contingent asset agreement with its pension scheme as part of a wider effort to reduce the funding deficit.
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Features
The Pensions Trust to open doors to private sector DB as employers outsource
The Pensions Trust plans to start accepting private sector employers into the scheme from late October, hoping to attract the growing number of small and medium-sized companies outsourcing the management of defined benefit schemes.
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Features
Unite mulls launching CDC scheme as unions back risk sharing
Unite is considering establishing a collective defined contribution scheme, as union groups voice their support for defined ambition benefit structures that share risk between employees.
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News
Trade body calls for review of charity pension rules
News analysis: The Charity Finance Group has called for a review to the regulations surrounding multi-employer pension schemes, claiming they can threaten charities’ ability to raise donations.
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News
Charities await guidance to reduce liability squeeze
Not-for-profit employers that belong to multi-employer schemes are waiting for further guidance on dealing with debt risk that could trigger insolvency.
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Opinion
Are smaller charities heading for a fall over AE implementation?
Concerns over the charity sector’s ability to implement auto-enrolment have been raised in a report that makes explicit the disparity between the sector’s overconfidence to carry out the reform and its ability to actually do so.
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