All Defined benefit articles – Page 135
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OpinionIncreased self-service will boost data quality and raise admin standards
Data cleansing sounds like a wonderful, positive experience, about renewal and putting to right the mistakes of the past. It is, however, far more prosaic – and yet powerful – than that.
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NewsBritish Coal scheme taps into UK infrastructure
The British Coal Staff Superannuation Scheme has introduced a new allocation to UK infrastructure and increased its exposure to private debt, as part of its focus on assets that provide diversification, good return prospects and high cash yields.
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News
600 Group completes buy-in ahead of scheme wind-up
UK engineering company 600 Group has derisked its 2,800-member defined benefit pension scheme with a $270m (£210m) buy-in policy from the Pension Insurance Corporation before moving to full buyout next year.
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News
Field and PPF express concerns over Johnston Press deal
On the go: Chair of the Work and Pensions Committee Frank Field has written to the Pensions Regulator about its engagement with Johnston Press on its pension scheme, which has now entered a Pension Protection Fund assessment period. The PPF has also raised concerns over the deal.
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OpinionIndustry must innovate to build on pension comms progress
Analysis: The government used this year’s Autumn Budget to commit £5m to getting the pensions dashboard off the ground.
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News
ACA and Royal London call for radical simplification of DB rights
Consumers and employers could reap substantial benefits if the complex patchwork of defined benefit pension rights could be radically simplified, according to a recent policy paper.
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News
GMP ruling could see £50bn of buy-ins restructured
On the go: Insurers are set to be deluged with a flood of requests to restructure buy-in contracts as a result of the High Court decision in the Lloyds Banking case, which held that guaranteed minimum pensions must be equal for men and women.
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FeaturesShell launches online hub to meet member demand
Royal Dutch Shell has introduced a new financial education hub for employees, as members of the company’s pension fund show appetite for online communications.
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NewsNo-deal Brexit a possibility as McVey and others quit
Esther McVey has resigned as secretary of state for work and pensions amid a raft of cabinet resignations, raising speculation about the impact of a no-deal Brexit on the pensions sector.
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News
DB health improves but covenant strength ignored
Defined benefit pension schemes are not paying enough attention to the likelihood of their employer going bust when setting investment strategy, according to a new study assessing funding levels in the context of sponsor health.
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PodcastsPodcast: What can we learn from the Barnardo's outcome?
Podcast: Earlier this month, the Supreme Court ruled that Barnardo’s cannot change the inflation protection it provides to members of its defined benefit scheme from the retail price index to the consumer price index. So, what does the result mean for other DB pension funds and their sponsors? Matthew de Ferrars, pensions partner at law firm Pinsent Masons, and Faye Jarvis, pensions partner at law firm Hogan Lovells, discuss what trustees can learn from the recent Barnardo’s outcome.
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News
UK employees set to work until they drop
On the go: The number of “early retirees” is at a 23-year low, according to latest employment figures from the Office for National Statistics, signalling that despite vestiges of ageism the older worker is in the ascendant.
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News
Poor scheme data threatens to undermine GMP equalisation
More than 60 per cent of pension schemes are not expected to have sufficient data to carry out equalisation of guaranteed minimum pensions, recent research has shown.
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News
Half of today’s over-40s are retirement savvy
On the go: Encouragingly, half of the over-40s in the UK have sufficient basic knowledge of the factors that may influence their later-life income to avoid the worst retirement pitfalls. However, one in 14 people are at high risk of making poor financial choices.
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News
UK pension scheme deficit triples over October to £107.7bn
On the go: The aggregate deficit of the UK’s 5,588 pension schemes in the PPF 7800 Index has nearly tripled over October to £107.7bn at the month’s end, from a deficit of £38.7bn at the end of September 2018.
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News
More unions eye CDC as possible negotiation outcome
What is good enough for postal workers is, it would appear, not good enough for academics.
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NewsBaptist scheme pulls DGF for global infrastructure
Trustees of the defined benefit Baptist Pension Scheme have allocated to global infrastructure and dropped a struggling diversified growth fund manager.
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News
How far away is the pensions dashboard from becoming a reality?
A complete and up-and-running pensions dashboard could be years away, according to experts, as implementation and credibility concerns come to the fore.
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News
FOS receives just 300 pensions transfer complaints
On the go: Since the introduction of the pension freedoms in 2015, the Financial Ombudsman Service has received fewer than 15,000 complaints involving pensions. Of this figure, just 1,700 have been about pension freedoms and around 300 of these complaints were about defined benefit transfers.