All Defined benefit articles – Page 142
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OpinionAre consolidation vehicles the future for DB schemes?
The potential advantages of pension scheme consolidation are now well understood by the market, and the concept itself was clearly endorsed in the government’s defined benefit white paper, published in March 2018.
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News
Warned scam victims must take responsibility, code says
The Pension Scams Industry Group has emphasised that scam victims must take responsibility for fraudulent defined benefit transfers where they have been previously warned by their providers.
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FeaturesNilgosc makes inroads into infrastructure funds
The Northern Ireland Local Government Officers’ Superannuation Committee has pledged millions in infrastructure investment in the past 12 months, and is now turning to review opportunities in absolute return bonds and multi-asset credit.
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News
Trustees warned to be vigilant before approving superfund deals
Trustees eyeing a transfer into one of the UK’s nascent superfunds must consider the viability of the acquiring consolidation vehicle before consenting to a ‘buyout-lite’ deal, the Pensions Regulator’s executive director of frontline regulation has warned.
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News
Less than a third of trustees think TPR will monitor fairly
Just 31 per cent of trustees are confident the Pensions Regulator will police funding agreements fairly and effectively in future, according to a survey by consultancy Willis Towers Watson.
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News
Industry calls for regulatory speed and stronger approach to scams
The pensions industry has voiced concerns over regulatory weaknesses and a lack of urgency when tackling scams and regulating defined benefit to defined contribution transfers.
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News
Government sets out proposals for trustee ESG investment duties
Trustees will be expected to publish a statement on how they take account of scheme members’ ethical views, if proposed requirements floated in a government consultation are implemented.
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News
SNP bill seeks PPF support for orphan liabilities
A private members’ bill submitted by Scottish National Party MP Alan Brown last week could see the Pension Protection Fund taking on so-called orphan liabilities from multi-employer pension schemes.
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News
Regulator sees merit in criminal sanctions for DB sponsors
The Pensions Regulator is prepared to deploy tough new powers promised by the Department for Work and Pensions’ defined benefit white paper, although it admitted that there will be a high bar for beginning any criminal proceedings against sponsoring employers.
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OpinionCDC ship has sailed for many employers
One of the big news stories of the past few months has been the agreement between the Communication Workers’ Union and Royal Mail to work towards establishing a collective defined contribution scheme for all employees, while closing the current defined benefit scheme to future accrual.
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FeaturesElectrocomponents scheme invests in bespoke pooled fund
The UK defined benefit scheme of FTSE 250 distributor Electrocomponents has moved much of its fixed income exposure into a qualifying investor alternative investment fund.
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News
Industry backs alternative to mandatory clearance
Requiring companies to prepare a formal statement on how corporate activity might affect their pension schemes could help protect members from being put at risk, a survey of restructuring professionals has suggested.
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News
Pensioners underspending and bequeathing most wealth on death
Many older people are underspending in retirement, and are set to bequeath the majority of their wealth to younger generations instead, according to research by the Institute for Fiscal Studies.
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News
Scheme support levels at highest level since financial crisis
FTSE 350 companies are in the strongest position to support their defined benefit schemes since the 2007/08 financial crisis, a new report has found. However, the gap between the index’s winners and losers continues to rise.
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News
Guy Opperman outlines hopes to harness fintech
Pensions and financial inclusion minister Guy Opperman says he hopes to harness fintech to boost saving for the self-employed, while aiming to bring in legislation for defined benefit regulation next year.
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News
PPF chief hints at closing superfunds’ regulatory advantage
Consolidation vehicles hoping to hoover up assets from deficit-weary employers could see their prices forced upwards by tough levy requirements and insurance-style protections, the chief executive of the Pension Protection Fund has said.
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News
More than half of charity DB schemes are now closed to accrual
Charities are catching up with private sector employers as the number of defined benefit schemes closed to accrual jumped to 58 per cent at February 2018 from 43 per cent a year earlier, according to consultancy Hymans Robertson.
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News
Time running out for DWP to book 2019 bills, Webb warns
The Department for Work and Pensions is at risk of running out of time to pass key aspects of its pensions policy agenda in 2019 due to the impact of Brexit and several measures yet to even reach a consultation stage, according to former pensions minister Sir Steve Webb.
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FeaturesTaylor Wimpey pension plan reaches full funding
Trustees of housebuilder Taylor Wimpey’s pension plan, which completed a medically underwritten mortality study last year, have announced that the scheme has reached full funding following a £23m injection from the company in April.
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News
Seeking members' ethical views could muddy DB waters, experts say
The Environmental Audit Committee has proposeda requirement for schemes to actively seek the views of their members when producing their statement of investment principles, a move experts say could complicate matters for defined benefit trustees.