All Defined benefit articles – Page 117
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News
Electricity Supply scheme completes £805m pensioner buy-in
On the go: The Electricity North West Group of the Electricity Supply Pension Scheme has completed a £805m pensioner buy-in with Scottish Widows.
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USS warns of ‘complex’ issues in response to JEP report
On the go: The Universities Superannuation Scheme has welcomed reform proposals put forward by an independent panel, but has warned that the issues are “complex” and may take some time to resolve.
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News
Part-time judges win court case
On the go: Four judges have seen the Supreme Court rule in favour of their appeal to reclaim a pension, in a case that could cost the government £1bn.
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OpinionAll eyes on European Court’s Bauer ruling
A key European Court ruling in Bauer is to be released on December 19. If it goes in favour of members, it could be the biggest shock to the UK pensions system since the Barber case in 1990.
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OpinionRisks and opportunities coming from RPI reform
On September 4 2019, it was confirmed that the UK Statistics Authority intends to reform the retail price index inflation measure so that it essentially becomes a variant of the consumer price index including housing costs, called CPIH, from 2030 at the latest.
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News
PPF includes levy adjustment for GMP equalisation
The Pension Protection Fund will allow companies moving from a profit to a loss – due to the impact of guaranteed minimum pensions equalisation – to request an adjustment in their levy calculations.
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News
ESAB Group scheme completes £255m buy-in
On the go: The ESAB Group Limited Pension & Life Assurance Scheme has completed a £255m buy-in with Rothesay Life.
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News
Top civil servants with pensions worth more than £1m
On the go: The UK’s permanent secretaries – 23 individuals who head up government departments – had an average defined benefit pension worth £1.1m in 2018-19, according to new research from the TaxPayers’ Alliance.
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News
Accounting rules change could see charities leave multi-employer DB
On the go: Charities participating in multi-employer defined benefit schemes will have to disclose their individual liabilities, which could lead to these organisations opting to leave and setting up their own final salary plan, an expert warned.
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News
USS expert panel calls for dual discount rate in 2020 valuation
The Universities Superannuation Scheme Joint Expert Panel, set up to review the valuation of the scheme, is calling for a “dual discount rate approach” to the 2020 valuation, aimed at distinguishing between past and future accrual.
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News
Elections 2019: Pension reforms expected after Tory majority
Sweeping pension system reforms are expected following the Conservative Party’s comprehensive victory in Thursday’s general election, with more powers coming for the regulator, a tax review for the higher and lower paid, and experts calling for more work on retirement adequacy.
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News
Calls for next government to revive multi-employer schemes bill
On the go: The boss of a small Scottish plumbing company hit with a £1.2m pensions bill is calling for the next government to revive a 2018 proposal, which would end the current issues affecting sponsors of the Plumbing and Mechanical Services Industry Pension Scheme.
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FeaturesHow trustees can better navigate the DB endgame
How trustees can betternavigate the DB endgame Talking Point: Experts at a recent PensionsExpert event discuss what DB 'endgame'options are available to pension schemes asthey mature and their funding levels improveEnterkeywords.sh_embed {position: relative;height: auto;width:100%;z-index: 0;overflow: hidden;background-color: #222;color: white;font-family: 'Lato', 'Helvetica Neue', Helvetica, Arial, sans-serif;}.sh_embed * {-webkit-box-sizing: border-box;-moz-box-sizing: border-box;box-sizing: border-box;}.sh_embed .sh-embed-bg ...
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News
Third of schemes facilitating financial advice to members
On the go: One-third (34 per cent) of defined benefit scheme trustees are facilitating financial advice for their members as they approach retirement, new research found.
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News
Ombudsman sides with Shell on climate change dispute
The Pensions Ombudsman has sided with the Shell Contributory Pension Fund in the legal challenge regarding the disclosure of climate change information, which has prompted environmental lawyers ClientEarth to request the body to review its internal procedures.
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News
DB schemes move to formal long-term planning as regulation bites
On the go: Defined benefit pension funds are increasingly focusing on a long-term, formalised endgame or funding target, according to research by PwC.
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News
Govt guarantees doctors’ emergency pension payments
On the go: The government will guarantee that senior clinicians’ pension tax bills will be paid even if the employer ceases to exist, the secretary of state for Health and Social Care announced.
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News
USS urged to consider expert report in next valuation
UK universities and staff have called for the UK’s biggest pension fund to ensure its 2020 valuation process fully considers a forthcoming report from an independent panel of experts.
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News
Bulk annuity market to reach £540bn in next decade
On the go: The bulk annuity market is expected to quadruple in the next decade compared with the current one, which saw £135bn paid to insurers, according to estimates from Mercer.
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News
Schemes’ endgame decisions could be hit by IFA shortage
Pension schemes using enhanced transfer value exercises as a way to reach an endgame solution could soon see their journey delayed, as new rules coming into the advice sector are reducing the defined benefit transfer market.