All deficit articles – Page 20
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News
Johnston Press DB recovery to net 25% of sold sponsor assets
Johnston Press Pension Plan has agreed a revised recovery plan with its sponsor, entitling it to a chunk of the proceeds from the sale of company assets, to help plug its rising deficit.
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News
Electrocomponents reboots recovery plan to quell DB deficit
An electronics company pension scheme has agreed a new recovery plan and increased member contributions as its deficit more than doubled in an 18-month period, in part due to longevity risks.
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News
John Laing tackles deficit with £100m alternative financing plan
Infrastructure heavyweight John Laing contributed £100m in cash and equity interests to its pension scheme, as part of a deficit recovery schedule that was revised before floating the company in February.
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NewsTata Steel DB closure flags need for 'holistic' approach to risks
Tata Steel's plan to close its defined benefit scheme to future accrual faces industrial action, leading some experts to call on trustees to give greater consideration to the sponsor covenant.
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News
Deficit quadruples for Johnson Service scheme
Johnson Service Group has seen its defined benefit scheme deficit more than quadruple after a reduction to the discount rate and the closure of the scheme to future accrual.
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News
Energy group sells ships to buoy funding
UK energy major BG Group is using the $460m (£299m) sale of two liquid natural gas carrier ships to quell a rising deficit, the latest development in a 15-year funding deal.
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News
PPF index highlights DB funding trough, expected to normalise
The Pension Protection Fund’s latest 7800 Index figures showed further deteriorating funding deficits among defined benefit schemes, but industry commentators expressed caution against knee-jerk reactions to the slide.
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Opinion
Six ways to rethink your derisking plan in a volatile world
Around 40 years ago we experienced the 1970s oil shock, with rising oil prices, rising inflation and rising interest rates.
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News
How BT structured deal to recover £7bn deficit
The BT Pension Scheme has agreed a revised plan to conquer its £7bn deficit, a deal that experts say will give the scheme particular reliance on the company.
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Opinion
Draghi has unleashed the force: what will it mean for schemes?
The unleashing of €60bn (£45bn) a month of quantitative easing by the European Central Bank last week could mark trouble ahead for UK pension schemes, as greater demand for gilts pushes yields ever lower and liabilities higher.
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News
LPFA: £500m GMPF tie-up not limited to infra
The chief of the London Pensions Fund Authority has said the £500m tie-up with the Greater Manchester Pension Fund, announced las week, will consider “infrastructure in a broad definition”.
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Opinion
How the DB code's employer growth objective affects scheme funding
The Pensions Regulator last summer published a revised version of Code of Practice 3 for funding defined benefit pension schemes.
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News
Volunteering charity makes £2.9m deficit payment after property sale
London-based charity Community Service Volunteers has reported using the sale of property assets to reduce the risk posed by its pension deficit, as defined benefit schemes reach their lowest aggregate funding level in 18 months.
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Opinion
Lafarge, Channel 4 and Lloyds feature in the top five derisking stories of 2014
Many schemes worked hard this year to make a dent in their pension fund deficit as liabilities soared, employing methods ranging from simple payment increases to complex recovery plans.
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News
Union mulls counter proposals to rival USS reforms
The UK's largest trade union for academics is debating whether to submit counter reform proposals for the Universities Superannuation Scheme, as negotiations continue over the future of one of the UK's biggest remaining final salary pension schemes.
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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
BAE sees four in 10 agree to give up pension increases
BAE Systems Pension Scheme has experienced a 38 per cent take-up of a pension increase exchange offered to pensioner members, in an exercise to reduce its inflation risk.
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News
Channel 4 looks to shut off DB accrual to quell deficit increase
Channel 4 plans to close its defined benefit pension scheme after its deficit more than tripled, having paused its consultation to give members a chance to understand the personal impact of the changes.
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Features
USS revamps covenant assessment model in face of funding challenge
The Universities Superannuation Scheme has opted for a more thorough covenant assessment due to changes in higher education funding and an expected increase in its deficit from this year’s triennial valuation.
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NewsRegulator nets £184m from Lehmans as cases treble
The Pensions Regulator’s unprecedented £184m settlement for the members of the Lehman Brothers pension scheme is its biggest trophy in a growing anti-avoidance campaign, with the number of investigations trebling since last year.