All deficit articles – Page 4
-
NewsPPF 7800 surplus jumps £25bn in September
On the go: The latest update of the PPF 7800 Index shows the aggregate surplus of the 5,318 defined benefit schemes measured jumped by more than £25bn to £108.8bn at the end of September, up from £83.2bn at the end of August.
-
NewsBT Pension Scheme deficit falls on back of recovery plan
On the go: The BT Pension Scheme deficit is expected to have improved by roughly £3.4bn over the year to June 2021 to around £4.6bn, due to sponsor contributions and strong returns on growth assets.
-
NewsUSS sponsor claims members will be ‘priced out’ without reform
On the go: Universities UK, the group representing 340 Universities Superannuation Scheme employers, has warned that USS members will be priced out of the scheme if the union’s threats of strike action derail reform proposals.
-
NewsSTV Group reaches agreement on DB schemes’ valuations and funding
On the go: Glasgow-based media company STV Group has reached an agreement with the trustees of its two defined benefit schemes over its December 2020 funding valuations and recovery plans.
-
NewsFTSE 100 DB surplus not immune to funding code and inflation shocks
On the go: FTSE 100 defined benefit schemes' positions grew again in Q3, with the post-pandemic recovery leaving their combined IAS19 surplus at £50bn. But LCP has warned that inflation, coupled with stricter rules under the new defined benefit funding code, could still do damage.
-
NewsReal Good Food uses sale proceeds to wipe DB deficit
On the go: Liverpool-based cake decoration specialist Real Good Food has used the proceeds from the sale of its snack bar business to “eliminate” its defined benefit scheme deficit.
-
NewsONS data shows drop in deficit payments as life expectancy flatlines
On the go: New data from the Office for National Statistics has revealed a significant drop in defined benefit scheme deficit repayment contributions, while the impact of the pandemic can now be seen in nationwide life expectancy data.
-
NewsStrike ballot set for October in ongoing USS row
On the go: The University and College Union has announced it will ballot staff over strike action in October following a breakdown in negotiations over the Universities Superannuation Scheme’s controversial 2020 valuation.
-
NewsNational Grid scheme appoints outsourced investment manager
On the go: The circa £12bn National Grid UK Pension Scheme has appointed Russell Investments as its outsourced investment manager.
-
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.
-
NewsPandemic impacts DB schemes’ deficit recovery periods
On the go: The deficit recovery periods of defined benefit schemes with valuations in 2020-21 was impacted by the pandemic-led crisis, with these schemes having a smaller reduction than expected, according to new analysis.
-
NewsFTSE 350 DB schemes’ deficit rises £2bn in August
On the go: Defined benefit schemes sponsored by FTSE 350 companies saw their deficits rise to £87bn in August, an increase of £2bn from £85bn in July.
-
NewsDraft CDC regulations hampered by poor definitions, industry warns
The government’s consultation into draft regulations governing collective defined contribution schemes requires more work on definitions if these pension funds are to be properly implemented, with the Pensions and Lifetime Savings Association warning it could create a “back door” for unscrupulous employers.
-
NewsStrike action ‘inevitable’ after employers agree USS reforms
The University and College Union is to ballot its members over industrial action, branding strikes “inevitable” after employers agreed to press ahead with reforms of the Universities Superannuation Scheme.
-
NewsFTSE 350 DB schemes time to buyout could drop by 35% due to Covid
On the go: FTSE 350 defined benefit schemes could be reaching their endgame quicker than expected due to the effects of the pandemic on life expectancy, new research has shown.
-
NewsHousing associations to suffer following SHPS valuation
On the go: Housing associations are facing average contribution rate increases of 17 per cent following the Social Housing Pension Scheme’s 2020 valuation, a full 50 per cent higher than expected under the current deficit repayment plan, LCP has said.
-
NewsUltra pension scheme set for £100m acquisition windfall
On the go: A proposed £2.57bn cash acquisition by Cobham Ultra Acquisitions of Ultra Electronics Holdings will see the defence company’s defined benefit scheme receive an extra £100m in funding.
-
NewsTPR threats enough to secure fair treatment for hybrid scheme
On the go: The Pensions Regulator’s issuance of a warning notice against a scheme sponsor has been sufficient to restore parity between it and other creditors.
-
NewsDaily Mail pension schemes to benefit from RMS sale
On the go: Daily Mail and General Trust pension schemes could stand to benefit from the £1.4bn sale of insurance risk business RMS to Moody’s that is part of a broader restructuring at DMGT.
-
NewsPPF 7800 Index falls but surplus remains
On the go: The aggregate surplus of the 5,318 defined benefit pension schemes potentially eligible to join the Pension Protection Fund is estimated to have decreased to £62.4bn at the end of July, from a surplus of £99bn at the end of June, the latest figures from the lifeboat fund show.