All Defined benefit articles – Page 134
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News
DB schemes move into surplus
On the go: UK defined benefit pension schemes have moved into surplus after the Pension Protection Fund made changes to the way the PPF 7800 Index is calculated.
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News
CMA ups pressure on trustees and advisers to seek best deal
New requirements on trustees to shop around for fiduciary management and challenge their advisers will generate better value for members, experts have said in response to measures set out by the Competition and Markets Authority.
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News
UK pension deficit could increase by £219bn in a hard Brexit
On the go: A no-deal Brexit could see the aggregate buyout deficit of UK pension funds rise by as much as £219bn (37 per cent), according to Cardano.
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News
PPF confirms 2019/20 levy at £500m
On the go: The Pension Protection Fund has confirmed that the levy it expects to collect for the 2019/20 year is £500m, down from the £550m estimated for 2018/19.
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News
PIC reinsures £1.2bn of longevity risk with SCOR
On the go: The Pension Insurance Corporation has finalised a £1.2bn longevity reinsurance contract with independent global reinsurance company SCOR.
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OpinionTop tips for a successful approach to the bulk annuity market
From the blog: 2018 is set to be a record breaking year in the bulk annuity risk transfer market.
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News
Tower Hamlets completes £700m equity protection strategy
On the go: The London Borough of Tower Hamlets Pension Fund has undertaken a £700m equity protection strategy with Schroders.
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News
Government fires ‘starting gun’ on superfund deals
A government consultation published last week will allow the UK’s commercial defined benefit consolidators to press ahead with their first deals, it has been claimed, although some experts say questions remain over how the businesses can be prudently regulated.
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News
Field calls for swift action from TPR on Johnston pre-pack
On the go: Chair of the Work and Pensions Committee, Frank Field MP, has written to the Pensions Regulator with serious concerns about the possible 'dumping' of pension liabilities using a pre-pack deal.
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OpinionPre-pack administrations are not the bogeyman they seem
To some, the phrase ‘pre-pack administration’ can evoke a sense of loss and injustice, evidenced by criticism in the press, particularly where the sale is to the current owners or management. To others, it can provide an opportunity to rescue a business and save jobs.
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News
DWP expects superfunds to have 99% probability of success
On the go: The Department for Work and Pensions has outlined its thinking on the regulation of commercial defined benefit consolidation vehicles in a consultation, removing a major hurdle to scheme sign-up.
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OpinionSouthern Water case: How TPR ensures schemes are treated fairly
For some time, we have made clear there is an important balance to be struck by employers and trustees between dividend payments and deficit repair contributions.
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NewsBT section must stick to RPI, Court of Appeal says
BT has lost an appeal seeking to allow it to downgrade the inflation protection given to some of its defined benefit members.
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NewsRentokil announces £1.5bn buyout with PIC
Business services group Rentokil Initial has passed its £1.5bn of defined benefit liabilities to the Pension Insurance Corporation in a full buyout, adding to a record-breaking year for bulk annuity transactions.
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News
Southern Water agrees higher DRCs after regulator investigation
Utility company Southern Water has agreed to pay significantly higher deficit repair contributions under a shorter recovery period, following an investigation by the Pensions Regulator.
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NewsXerox MNT constituency opened up for all members
The Xerox Pension Scheme has broadened its employed member constituency for member-nominated trustees to include all members, due to the dwindling number of members who are employed by Xerox.
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News
Govt and scheme decision-makers told to tread with caution on CDC
Collective defined contribution schemes could produce a higher and more certain retirement income than individual DC schemes, but there are also many potential issues to consider, including intergenerational unfairness and governance problems, the Pensions Policy Institute has highlighted.
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NewsOnly one in 100 members wants paper comms, finds BAA scheme
The BAA Pension Scheme’s digital push on communications has led to virtually the entire membership opting to switch to electronic information.
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Features
Could co-sourcing be the answer to rising pensions admin woes?
Analysis: Uncertainty is an overused word in the pensions landscape, yet it is particularly appropriate when we speak of administration, which is teetering on the brink of crisis.
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OpinionTime to press ahead on CDCs
Guy Opperman, minister for pensions and financial inclusion, discusses the government’s recently published consultation on collective defined contribution pension schemes, and what it means for both employers and employees.