All Defined benefit articles – Page 145
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OpinionAdmit mistakes and encourage discussion to prevent repetition
Trustee decision-making has come under increased scrutiny in recent years, but there are plenty of ways in which trustees can avoid errors, and prevent the same mistakes from happening again.
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News
UCU suspends strike action to scrutinise USS valuation
The University and College Union has called to suspend all strike action after its members accepted an offer to examine the latest valuation.
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News
Pension questions raised after FirstGroup rejects takeover bid
FirstGroup’s rejection of a hostile takeover approach from US private equity group Apollo Management has sparked discussion on pensions.
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News
Select committee launches inquiry into DB white paper
The Work and Pensions Committee has launched an inquiry into the government's recent white paper on defined benefit security and sustainability, asking how the proposed measures are likely to be most effective and whether legislation should be fast-tracked.
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NewsAssociated British Ports consults on accrual change
Associated British Ports has proposed to change the accrual rate for its defined benefit pension scheme, in a bid to cut costs and focus on fairness while keeping the scheme open to accrual.
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FeaturesHounslow drops Capita and heads for West Yorks
The £991m London Borough of Hounslow Pension Fund will enter into an administrative partnership with the West Yorkshire Pension Fund following the imminent conclusion of its contract with third-party administrator Capita.
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Features
Warwickshire cuts hedge funds from portfolio
The £2.1bn Warwickshire County Council Pension Fund has sold off its hedge fund allocation in anticipation of its move into the Border to Coast Pensions Partnership.
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News
DB deficits slip back up
The UK's aggregate defined benefit deficit increased over March to £115.6bn from £72.1bn on a section 179 basis, according to Pension Protection Fund estimates.
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OpinionWhat could we expect from the regulators’ joint pension strategy?
The Pensions Regulator and the Financial Conduct Authority are currently consulting on their joint strategy for regulating the pensions and retirement income sector.
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News
Choosing the right derisking path
Analysis: Consultants say bulk annuity pricing has never been so attractive, yet the majority of pension schemes see self-sufficiency as their likely destiny. Who is wrong?
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FeaturesGo-Ahead pension scheme moves from RPI to CPI
Transport operator Go-Ahead has cut its pension liabilities by about £40m by changing the inflation measure used for its bus workers’ final salary scheme.
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NewsTourist board employers block scheme valuation
The British Tourist Authority and VisitScotland have yet to sign off on their scheme’s 2015 valuation as they are looking to secure guarantees from the UK and Scottish governments, in what has been described as a “torturous” process.
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News
TPR fires warning shot over dividend to DRC balance
Defined benefit trustees and sponsoring employers should act sooner rather than later to secure members' pensions, the Pensions Regulator has said in its latest annual funding statement, and warned against prioritising dividends.
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Features
Should we be worried about public sector pensions?
Analysis: A combination of weak economic growth, growing inflation and lofty discount rates may threaten unfunded public sector defined benefit schemes.
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News
Ofwat queried on water companies' DB closure plans
Chair of the Work and Pensions Committee Frank Field has written to Ofwat, the utilities regulator, about proposals by United Utilities and Anglia Water to close their defined benefit schemes to future accrual while continuing to pay out large amounts to shareholders.
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News
CWU members vote for Royal Mail deal
The Communication Workers Union has announced that its members have overwhelmingly voted in favour of a deal with Royal Mail over pensions and pay.
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NewsParliamentary scheme elects alternative credit
The Parliamentary Contributory Pension Fund has introduced a new allocation to alternative credit to further diversify the scheme’s portfolio of return-seeking assets.
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News
Nortel reaches PPF-plus after nine years of 'scorched earth'
The UK Nortel Pension Scheme has retrieved enough assets from the insolvency of its communications giant parent to buy out benefits at a level above that guaranteed by the Pension Protection Fund.
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News
Industry welcomes FCA transfer advice rules
The Financial Conduct Authority has published new rules on pension transfer advice following its research that showed a high proportion of advice was not suitable. It is also seeking views on contingent charging among others. The industry has welcomed the additional clarity provided in this area.
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Features
Barnet switches DGFs for property and private equity
The £1.1bn London Borough of Barnet Pension Fund has resolved to cut its 20 per cent allocation to diversified growth funds managed by Schroders and Newton Investment Management.