All deficit articles – Page 13
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News
Fate of Arcadia on a knife edge
On the go: A crucial vote takes place today on a rescue package for Sir Philip Green’s beleaguered Arcadia Group.
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News
DB deficit grows during May
On the go: UK defined benefit funding levels dropped by four percentage points on aggregate at the end of May, according to the latest update from the Pension Protection Fund.
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Features
UK charities feel strain of DB scheme funding
Data crunch: UK charities are feeling the strain of defined benefit funding – with the average FRS102 pension deficit equalling almost a fifth of unrestricted assets across the 40 largest charities by income in England and Wales.
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News
FTSE 100 pensions schemes face £100bn hit
On the go: Impending accounting standards changes could hit FTSE 100 pension schemes by up to £100bn with more than a quarter being hit to the tune of £1bn, according to consultancy LCP.
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News
UK schemes deficit falls to £6.4bn
On the go: The aggregate deficit of the 5,450 UK defined benefit schemes in the PPF 7800 Index fell to £6.4bn at the end of April 2019 from £43.9bn at the end of March 2019.
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NewsField blasts lack of support for plumbers faced with huge DB debts
The Work and Pensions Committee has warned the government that “much more needs to be done” to support small plumbing businesses being faced with potentially crippling debts to the industry’s multi-employer defined benefit scheme.
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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.
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News
STV agrees new £127m DB funding package
On the go: Scottish broadcaster STV has agreed to pay off its £127m defined benefit pension deficit over 12 years, including additional contributions if its cash flow improves, after completing triennial valuations of its schemes.
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NewsSelect committee turns focus to Railways Pension Scheme deficit
The Work and Pensions Committee has written to the Pensions Regulator over what it called the “staggering, parlous state” of the £25.5bn Railways Pension Scheme.
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News
FTSE 350 pension deficit reaches 18-month high
On the go: The UK’s 350 largest listed companies have seen the deficit of their defined benefit pension schemes reach an 18-month high, increasing from £45bn at the end of February to £55bn by the end of March, according to Mercer.
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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.
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News
Employers reject call for contingency contributions from USS
On the go: At least two employers, including the University of Oxford and the University of Sheffield, have rejected the call for contingent contributions in a consultation from Britain’s largest private sector pension scheme, the Universities Superannuation Scheme.
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NewsGMB members accept revised pension offer from Historic Royal Palaces
Staff working for Historic Royal Palaces have accepted a revised offer on pension provision, ending months of dispute between the independent charity and the GMB trade union over the closure of their defined benefit scheme.
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News
Field condemns TPR failure to act on Johnston Press pension
On the go: The chair of the Work and Pensions Select Committee has condemned The Pensions Regulator’s finding that restructured publisher Johnston Press did not use a ‘pre-pack’ insolvency to avoid its pension obligations.
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News
DB schemes creep back towards full PPF funding
On the go: The 5,450 defined benefit schemes in the UK are inching back towards surplus on the Pension Protection Fund's measure, with an aggregate deficit of just £8.6bn.
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News
FTSE350 pension deficit rises to £45bn
On the go: The total deficit of FTSE350 companies’ defined benefit pension schemes increased to £45bn from £41bn at the end of February. The move was caused by an increase in liabilities to £811bn from £806bn, partially offset by asset values increasing to £766bn from £765bn, according to Mercer figures released this week.
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News
Regulator turns focus to DB sponsors’ long-term plans
Trustees and sponsors of defined benefit pension schemes will have to recognise a long-term funding target for their plans, under guidance set out on Tuesday by the Pensions Regulator.
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News
UK pension schemes’ deficit falls to £23.1bn
On the go: UK pension schemes have beaten the January blues, with their total deficit down by £8.8bn, according to recent Pension Protection Fund figures.
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News
UK pension deficit falls by £80bn to £210bn
On the go: January saw a significant in improvement in the funding level of the UK’s 5,450 defined benefit pension schemes.
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OpinionThe unseen funding target
In the acclaimed novel, The City and The City, by China Miéville, residents of Besźel and Ul Qoma spend their lives “unseeing” half of the city around them. They avoid walking into people and cars that they consciously don’t see, but in their mind half of the city does not exist.