All Covenant articles – Page 8
-
News
One in five schemes considering superfunds
On the go: The Pensions Regulator’s interim guidance for consolidators has sparked a surge of interest by pension schemes, with one in five considering superfunds as an option for their endgame, according to a survey by Willis Towers Watson.
-
News
No-deal Brexit could deny thousands lifeboat protection
As Covid-19 continues to wreak its devastation on the corporate landscape, dozens of pension schemes could fall into the Pension Protection Fund. However, a no-deal Brexit could scupper that option for up to one-fifth of distressed employers with an EU connection.
-
News
Sponsors facing perfect storm as furlough nears its end
Pension schemes and their sponsors face a potential perfect storm of costs as the furlough scheme reaches its endgame, with sponsors in some sectors of the economy facing acute pressure as government support dries up.
-
News
PPF creates panel to support trustees with stressed sponsors
On the go: The Pension Protection Fund has established a new panel to support trustees where the scheme’s employer is in stressed or distressed circumstances.
-
News
BT Openreach sell-off leaves key questions for trustees
On the go: Trustees of BT’s colossal £50bn defined benefit pension scheme faced a number of important questions after rumours emerged that the telecoms giant was looking to sell its most profitable division.
-
News
One in five sponsors considering deficit holidays
On the go: Almost a fifth of UK defined benefit scheme sponsors have requested or are considering a deficit repayment contribution holiday, according to research from Isio.
-
News
Multibillion pension sponsors among vulnerable to demand shock
Sponsors of some of the UK’s largest defined benefit pension schemes are among those exposed to a potentially unsustainable level of debt if their cash flows dry up, new analysis has suggested.
-
FeaturesCounting the cost of coronavirus
Counting the costof coronavirus Coronavirus and the market volatility that has greeted it has dealt a triple blow to defined benefit schemes - damaging asset values, causing wild swings in liabilities, and weakening sponsor covenant. Pensions Expert looks at which sectors will be worst hit, and what trustees can do ...
-
News
BoE’s return to QE adds to DB woes
On the go: The Bank of England has cut its base rate to a historic low of 0.1 per cent, while announcing plans to increase its balance sheet of bonds by £200bn.
-
News
Four-fifths of FTSE 350 schemes eligible for consolidation
On the go: More than four-fifths (84 per cent) of FTSE 350 companies’ defined benefit schemes are eligible to join a commercial consolidator, new research showed.
-
OpinionSeven features that define DB pension schemes
Data crunch: The UK private sector defined benefit universe comprises approximately 5,500 schemes with a combined £1.8tn in total assets. The result is a landscape that is uncommonly diverse, although seven key parameters help define scheme characteristics and behaviour.
-
News
ECPA: Covenant assessments must consider climate change
On the go: The Employer Covenant Practitioners Association has emphasised the need to consider potential implications of climate change on sponsors’ businesses as part of defined benefit covenant assessments.
-
FeaturesUS industrial giant completes sectionalised merger of UK schemes
US conglomerate Honeywell has gone ahead with proposals to merge three of its UK defined benefit schemes on a sectionalised basis, in a bid to lower costs and streamline governance.
-
FeaturesAkzoNobel valuation results in £550m Q1 funding call
Paint manufacturing giant AkzoNobel has contributed €639m (£548.8m) into its pension schemes in the first quarter of 2019 alone, after a triennial valuation increased the company’s funding obligations beyond its previous projections.
-
Features
Private debt inflows continue as storm clouds gather
Data crunch: Patrick Marshall is worried about the prospects for the private debt sector. The direct lending veteran and head of private debt at Hermes Investment Management says the possibility of markets coming back down to earth could leave some of his peers, and by extension the reputation of the industry, facing serious damage.
-
OpinionOnly 1% reach insurance, what about everyone else?
Clara Pensions chief executive officer Adam Saron hits out at “disingenuous” arguments being made in opposition to commercial consolidation, and makes the case for a superfund regulatory environment that avoids the strictures of Solvency II.
-
OpinionRisk management should not just focus on assets
Data Crunch: As defined benefit pension schemes have matured they have become increasingly risk-aware. This awareness of risk is not just limited to those schemes’ asset portfolios, but also their liabilities and sponsor covenants.
-
NewsEmployers and academics rail against new USS contribution rate
Employers and workers alike have expressed concern over proposed contribution hikes to Britain’s biggest private sector pension scheme, the £63bn Universities Superannuation Scheme.
-
OpinionDB recklessness offence could catch worst employers
Just what is wilful or reckless behaviour in relation to a pension scheme? That is the test at the heart of a new crime proposed in the Conservative party's 2017 election manifesto and confirmed in a government response last month.
-
News
Covenant risk tops trustees’ list of concerns
On the go: Employer covenant risk is defined benefit pension schemes’ greatest worry, according to a poll of 42 trustees and their advisers by professional trustee company PTL.