All Defined benefit articles – Page 13
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NewsP&O announces £440m scheme buy-in
The trustee of the P&O Pension Scheme has today announced that it has agreed a £440 million buy-in with Rothesay, securing the remaining benefits of 5,300 scheme members.
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NewsGovernment dodges PAC demands claiming they are 'policy matters'
The government has rejected recommendations made by Parliament’s Public Accounts Committee (PAC) that it should review the indexation of the Pension Protection Fund (PPF) and initiate an independent review of AEAT members’ complaints.
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NewsPASA releases new guidance on DB data accuracy
The Pensions Administration Standards Association (PASA) has today (14 August 2023) launched new guidance on data accuracy for defined benefit (DB) schemes.
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NewsThe next step towards a superfund regime
The Pensions Regulator (TPR) has published revised superfund guidance following government plans to legislate the consolidation schemes.
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NewsWhy defined benefits schemes are looking beyond insurers to secure member benefits
Insurance buyouts were not the de-risking option of choice among half of the defined benefit schemes polled by a pensions consultant.
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Swap and bond rate dip increases average pension scheme buyout timeframe
The average time for a UK defined benefit pension scheme to make itself buyout ready rose from 5.1 to to 5.2 years between June and July 2023, according to Barnett Waddingham.
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NewsPPF 7800 Index: Inflation 'dip' and equity rally helps to boost pension surplus by £9.1bn
The aggregate surplus of the 5,131 schemes in the Pension Protection Fund 7800 Index increased to £446bn at the end of July 2023, compared to £437bn the previous month.
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NewsFour fifths of defined benefit scheme trustees expect BPA deal within five years
Four fifths of defined benefit pension scheme trustees expect to approach an insurer about de-risking within five years with 86 per cent of trustees anticipate their scheme approaching an insurer for a bulk purchase annuity (BPA) transaction within the next five years.
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NewsPension savers 'lose over £600 a year' by not shopping around for an annuity
A healthy 75-year-old buying an annuity with a £50,000 pension could expect about £4,720 income each year for the rest of their life from the most competitive provider compared to £4,070 from the least competitive.
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OpinionDB CETVs: Spectre of mini budget and gilt crisis weighs on transfer requests
The three month period ending June 2023 was the third lowest quarter for transfer value activity, only beating two previous sector impacted by extraordinary market volatility - the second quarter of 2020 - the first pandemic lockdown - and the fourth quarter of 2022 after the 'mini-budget' fiasco, according to Barnett Waddingham.
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NewsWhat does High Court ruling mean for the BBC and other DB pension schemes?
The High Court has quashed an attempt by the BBC to limit the costs of its future DB obligations, we look at what the ruling means.
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NewsPension schemes urged to get on board with ABI/PLSA #pensionattention campaign
The Pensions and Lifetime Savings Association (PLSA) and the Association of British Insurers (ABI) will team up again this September to call on the public to pay their pension some attention.
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NewsConsumer duty: Stricter regulation needed for members caught up in record insurance buyout activity
The introduction of the Financial Conduct Authority (FCA)’s new consumer duty will be particularly welcome to trustees of defined benefit (DB) pension schemes who are entering into bulk annuity insurance transactions.
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NewsK3, Just and Cartwright complete £7m buy-in with undisclosed food manufacturer
K3 Advisory, an independent bulk annuity and consolidator advisory business, and actuary and consultant Cartwright, have announced the successful completion of a £7m buy-in for the pension scheme of a company in the food manufacturing sector.
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NewsCanada Life completes first ever deferred member buy-in
An undisclosed pension scheme has insured the remaining benefits of its defined benefit pension scheme with Canada Life in a transaction worth £58m, following a competitive tender process run by Hymans Robertson.
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NewsPensions industry: Week in brief
LGPS staff are concerned about resources, according to an PLSA survey: while Broadstone predicts a bumper second half of the year for buyouts: questions over the FCA's consumer duty and a £200m property deal between SLIP and PIC, here's the news you may have missed this week.
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Standard Life completes £1.2bn buy-in with Mitchells & Butlers pension plan
Standard Life has completed a £1.2bn bulk purchase annuity transaction covering the 20,200-member strong Mitchells & Butlers pension plan.
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NewsPensions Management Institute elects new president
The Pensions Management Institute (PMI) has elected Robert Wakefield as president following it 47th Annual General Meeting (AGM).
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NewsDelays cause consumers to wait 'far too long' for pension transfers
Consumers are waiting on average almost one month (29 days) for companies to transfer their pension funds to a new provider, according to new data released this morning by retirement adviser My Pension Expert.
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NewsUSS: Private market allocation helps it shrug off rising inflation and market volatility
Universities Superannuation Scheme (USS), one of the last defined benefit schemes open to new members, said market volatility, rising inflation and the war in Ukraine had made investment challenging in the year ending 31 March 2023.