All deferred members articles – Page 2
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NewsDB scheme membership plummets 2.5m in 10 years
On the go: New data from the Pensions Regulator shows that defined benefit schemes continued to decline in 2020-21, a decrease that has gone almost unbroken since 2012.
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NewsHealthcare diagnostics scheme completes £130m full buy-in
On the go: The PerkinElmer (UK) Pension Scheme has completed a £130m full buy-in with Phoenix Group subsidiary Standard Life.
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NewsMembers on lower incomes to pay more in NHS pensions overhaul
The government has announced its intent to overhaul the way in which NHS Pension Scheme members pay contributions from April next year, following the implementation of the McCloud remedy.
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NewsMiracle Garden Care scheme agrees £49m full buyout
On the go: The Miracle Garden Care Pension Scheme has completed a £49m buyout deal with Just Group.
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NewsSelecta UK scheme agrees £250m full buy-in with Legal & General
On the go: The Selecta UK Pension Plan has completed a £250m full buy-in with Legal & General Assurance.
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NewsKeysight plan agrees buy-in, motor industry section reaches buyout
Risk Watch: A roundup up of the latest derisking transactions, including the Keysight Technologies plan’s £250m deal with Just Group and Ashwal Garage’s insurance transaction with Aviva.
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NewsSPP warns dashboards figures will need to be illustrative
The Society of Pension Professionals has warned that pensions dashboards will have to provide illustrative figures to defined benefit members, as it will not be possible to have accurate quotations due to the complexity of current benefit structures.
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NewsUSS pushes ahead with reform proposals despite strike threat
The Universities Superannuation Scheme trustee is to push ahead with a reform package agreed by USS employers, despite threats of strike action from the University and College Union.
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NewsIsle of Man civil servants to choose between DB and DC
On the go: Civil servants on the Isle of Man are to be given a choice between an existing defined benefit scheme and a new defined contribution arrangement, the island’s government has announced.
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NewsDWP loses court battle on PPF cap
The Department for Work and Pensions has seen its appeal on the Pension Protection Fund cap, previously considered discriminatory by the High Court, dismissed by the Court of Appeal, which means the pensions lifeboat will have to alter its benefits structure.
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NewsDWP’s move to DC universal charge structure could do ‘serious damage’
Industry commentators are worried about the Department for Work and Pensions’ proposal to introduce a universal annual management charge in defined contribution default funds, warning that the move is premature and could do “serious damage” to the pensions market.
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NewsYounger workers risk losing track of pension pots
On the go: Younger workers unaware of their pension arrangements face losing track of their pension pots as the economy recovers from Covid-19.
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NewsLGPS assets drop 5% in 2020 as contribution income rises
Local Government Pension Scheme assets fell by 4.9 per cent in 2020 to £276bn, but funds saw increases in membership and contribution income, according to the most recent annual report from the LGPS Advisory Board.
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NewsBarnet Pension Fund back on track following change in administrators
Barnet Council’s pension fund has largely recovered from an era of errors under Capita, with its new administrators overseeing significant improvements in the handling of member data.
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Shepherd Foods completes £3m buyout with Aviva
On the go: The Shepherd Foods (London) Limited defined benefit pension scheme has completed a £3m buyout with Aviva Group.
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Pandemic dampens DC membership growth in 2020
On the go: The increase in defined contribution members slowed to 11 per cent in 2020 as a result of the pandemic, compared with 17 per cent in the previous year, according to data from the Pensions Regulator.
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Industry bodies launch small pots working group
On the go: The small pension pots working group had its first meeting on Wednesday, with a team of experts appointed to propose solutions to the current issues caused to auto-enrolment savers and schemes.
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Quarter of schemes don’t have adequate cyber crime breach plan
On the go: A quarter of trustees have confessed their scheme does not have an adequate cyber crime breach plan, despite considering cyber crime as a top risk, according to a new report from Crowe.
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DB schemes to see £1tn of liabilities insured by 2031
On the go: Defined benefit schemes are expected to see £1tn of risk insured by buy-ins, buyouts and longevity swaps by the end of 2031, according to new analysis.
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Half of schemes planning to move members into master trusts
On the go: The trend of transferring members of defined contribution schemes to master trusts is expected to continue in 2021, with 50 per cent of employers or trustees planning such moves, or at least signpost these schemes as a retirement option for their members.
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