All Defined benefit articles – Page 127
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News
DB members transferring face adviser shortage as regulations bite
On the go: Nearly seven out of 10 advisers are wary of advising on defined benefit transfers, according to Aegon Research.
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News
600 Group completes £201m buyout with PIC
On the go: Yorkshire-based engineering firm 600 Group has finalised the buyout of its UK pension scheme liabilities with Pension Insurance Corporation.
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News
MoJ underpays pension payments to 25 judges
On the go: The Ministry of Justice has short-changed 25 members of the Judicial Pensions Scheme who have been underpaid in their pensions. The underpayments totalled £53,917.
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News
Stagecoach announces next wave of legal action against DfT
On the go: Stagecoach started the second wave of its legal action against the Department for Transport on Friday, claiming it was illegally excluded from three rail franchise contests in April over pensions liabilities.
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News
Plumbers’ scheme set to close to future accrual
On the go: The multi-employer defined benefit scheme for the plumbing industry will close to future accrual from June 30, despite an apparently healthy funding level.
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NewsCambridge academics threaten to ‘greylist’ Trinity College if it leaves USS
Two-hundred-and-fifty Cambridge academics have signed an open letter condemning a proposal from Trinity College to withdraw from the Universities Superannuation Scheme and to set up its own private pensions scheme.
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News
Marks & Spencer adds £1.4bn in new buy-ins
On the go: Marks & Spencer's UK defined benefit scheme has entered a £1.4bn buy-in with the Pension Insurance Corporation and Phoenix Life, bringing its total insured portfolio up to two thirds of its pensioner population.
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News
TPR expresses 'grave concerns' over USS funding proposal
On the go: In a leaked email to Universities Superannuation Scheme, The Pensions Regulator has expressed “grave concerns” over an option for finalising its 2018 valuation that could delay funding pressures into the future.
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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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Features
Wesbroom: Actuaries must now stand up to public scrutiny
Kevin Wesbroom has his work cut out bringing his CV up to date.
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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
Return to equities not a sign of volatility ending, consultants say
Data crunch: UK pension fund allocations to equities ticked upwards in the first quarter of 2019, according to data collected by Pensions Expert’s sister title MandateWire, as managers sought to capitalise on falling prices in late 2018.
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News
Light at end of tunnel in Barnet admin fiasco
Long-running issues with poor-quality data at the London Borough of Barnet Pension Fund, administered by Capita, are at last showing some signs of improvement.
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Features
Phoenix moves to simplify own scheme's benefits with PIE
Nearly two fifths of eligible pensioners in a scheme sponsored by Phoenix Group have accepted a pension increase exchange offer, which has shaved about £20m from the bulk annuity insurer's defined benefit liabilities.
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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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News
Ministers mulling 50/50 solution for NHS scheme
On the go: The chancellor and health secretary are reportedly considering introducing greater flexibility to the NHS pension scheme, in a bid to stave off a wave of early retirements without changing tax rules.
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News
TPR to issue two consultations on plans for a clearer DB funding framework
On the go: The Pensions Regulator has announced its intention to launch two consultations – the first to be published this summer – as part of the watchdog’s plans to make the funding standard for defined benefit schemes clearer.
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News
Members ‘blissfully’ unaware of pension minefield ahead
On the go: Pension scheme members nearing retirement are ill-prepared for the problems they face when accessing their pensions, ranging from paying too much tax, to running out of money before the end of their days, or even losing their life savings to scams, according to a new survey of trustees.
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News
Employers and unions rail against latest USS proposals
On the go: Academics and employers have expressed their disappointment at the latest Universities Superannuation Scheme proposals in the long-running pensions dispute which saw universities brought to a standstill last year.
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News
70,000 DB members exercise freedoms each year, research shows
On the go: Some 70,000 members could be leaving defined benefit schemes each year, according to research by XPS Pensions.