All Defined benefit articles – Page 189
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Opinion
What you need to know from the pension schemes bill second reading
This week the new pensions bill had a second reading in the House of Commons, the first opportunity for members of parliament to debate its main principles.
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Opinion
Does your trustee board have a women problem?
Any other business: The prime minister is not the only one facing questions over diversity. A quick glance around the pensions industry shows white, middle-aged men make up the majority of trustee boards.
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News
Schemes consider money purchase reversion to reduce employer risk
Legal experts have reported that schemes caught by the recent change in the definition of money purchase are trying to amend their benefits structures to remove the additional risk of guarantees.
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News
Saul: convertibles could spread as schemes look to reduce volatility
Saul's outgoing chief executive has predicted that its use of convertible bonds to dampen pension fund volatility could catch on at other schemes, but some advisers remain sceptical of the benefits offered.
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Features
Diageo tips into matching assets after hitting trigger
Diageo Pension Scheme has switched 5 per cent of its assets from its growth to its matching portfolio after hitting a derisking trigger, tipping its investment balance towards holdings that track liabilities.
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Features
Royal Mail rachets up hedging derivatives to reduce risk
The Royal Mail Pension Plan has extended liability hedging in its portfolio by substantially boosting its use of swaps and gilt repurchase agreements, as it seeks to reduce risk in the scheme.
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Opinion
Confronting the scourge of the ever-growing meeting pack
Any other business: Is there a trustee out there that makes it through every page of their meeting bumpf?
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News
Yes or No: schemes brace for Scottish independence vote
Pension scheme managers and industry experts are focusing on tax and cross-border funding requirements as challenges that could arise out of next month’s Scottish independence vote, regardless of the outcome.
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Features
Xerox to protect repayment power amid legal uncertainty
Xerox Final Salary Pension Scheme is planning a resolution allowing it to continue to make repayments to its sponsor, but legal experts are split on whether such a move is necessary or will even be effective.
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NewsRegulator nets £184m from Lehmans as cases treble
The Pensions Regulator’s unprecedented £184m settlement for the members of the Lehman Brothers pension scheme is its biggest trophy in a growing anti-avoidance campaign, with the number of investigations trebling since last year.
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Features
Scheme managers raise doubts on joint LGPS governance boards
Local authority schemes have raised concerns over whether incoming pensions boards can be combined with their existing section 101 committees, one of the options in the government’s consultation on governance in the Local Government Pension Scheme.
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News
DB steals limelight in 75% of hybrid scheme trustee meetings
Three-quarters of hybrid scheme trustees spend more time on their defined benefit offerings than defined contribution, sparking concerns that they are failing to respond to the shift to DC.
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Features
Bromley mulls 10% illiquids allocation as cash flow worsens
The London Borough of Bromley Pension Fund is considering a 10 per cent allocation to illiquid assets to provide greater returns and inflation linkage, in expectation of turning cash-flow negative within seven years.
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News
IASB proposal could hit sponsor-scheme funding strategies
A proposed change to pensions accounting guidance around surpluses could lead to trustees having to renegotiate their financing arrangements with employers and shifting towards non-cash vehicles.
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News
Interest rate uncertainty a concern for employer covenants
Interest rate rises could have a negative effect on covenant strength as some companies are forced to refinance at higher rates, advisers have said, and trustees should keep a watching brief to mitigate any resultant impact on their sponsors' ability to pay scheme contributions.
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FeaturesRBS reviews recovery plan as interest rates hurt funding level
The Royal Bank of Scotland has extended its pension fund recovery plan and increased contributions following a slip in the funding level.
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News
Schemes have scope to delve deeper into illiquids, but confidence lacking
Defined benefit schemes are showing increased interest in illiquid alternatives as they hunt greater yield and diversification, but many lack sufficient resources and the confidence needed to execute such investments.
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News
DB-to-DC transfers forecast to impact on derisking strategies
Investment experts have predicted liability-driven investment programmes could become more tricky since the chancellor gave the green light to transfers from defined benefit to defined contribution, with schemes finding find it more difficult to predict liabilities.
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News
How the PPF's contingent asset shift could affect your scheme
The Pension Protection Fund will publish in October the conclusion of its consultation on making the certification of contingent assets more transparent, after around half a sample of type A contingent assets failed a stress test.
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Opinion
Last DB schemes standing: A snapshot of FTSE 100 benefits
Consultancy LCP yesterday released its Accounting for Pensions 2014 report giving an insight into the pension arrangements of some of the country's biggest companies. The report at times paints a bleak picture for defined benefit schemes.