All Defined benefit articles – Page 70
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NewsBritish American Tobacco secures second buy-in with PIC
On the go: The £4.2bn British American Tobacco UK Pension Fund, has signed an additional buy-in deal with Pension Insurance Corporation, insuring approximately £400m of pensioner liabilities.
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NewsSeven providers sign up for dashboard test
On the go: Seven software providers, third party administrators and pension providers will be taking part in the first test of the pensions dashboard.
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NewsMP introduces bill to investigate Atomic Energy Authority transfers
Conservative MP David Johnston has introduced a private members’ bill to allow the Parliamentary and Health Service Ombudsman to investigate pension transfers made out of the UK Atomic Energy Authority pension scheme.
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PodcastsPodcast: TCFD helps schemes to understand financial risks
Podcast: The Task Force on Climate-related Financial Disclosures requirements are a great opportunity for pension funds to set a strategy which helps them understand the financial risks involved in climate change, says Will Martindale, group head of sustainability at Cardano. He is joined by Joanne Segars, chair of the board of directors of LGPS Central and chair of Now Pensions, to discuss how schemes can best implement the imminent new rules.
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NewsLegal & General DB scheme secures £925m derisking transaction
On the go: The Legal & General Group UK Pension and Assurance Fund has completed a £925m assured payment policy transaction with Legal & General Assurance Society.
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NewsProfessional trustee board appointments increase 60%
On the go: The number of schemes appointing professional trustees is on the rise, with almost half of pension fund boards now having such arrangements, which compares with one in five schemes five years ago, according to LCP.
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NewsAlmost a third of tranche 14 schemes in surplus
Detailed analysis of triennial valuations with due dates up to January 2021 has shown that almost one in three defined benefit and hybrid schemes are in surplus, but many pension funds face a headwind due to falling interest rates.
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NewsPIE exercises can be a 'win-win' for schemes under current conditions
On the go: Improved regulatory clarity and rising inflation rates could mean now is the time for defined benefit pension schemes to consider offering a pension increase exchange to their members, according to LCP.
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NewsAon and WTW cancel $30bn mega-merger
On the go: Aon and Willis Towers Watson have abandoned their planned $30bn (£21.7bn) merger after an intervention from the US Department of Justice.
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NewsPensions Ombudsman taking longer to resolve old complaints
On the go: The Pensions Ombudsman has seen delays in resolving complaints, due to the impact of Covid-19 and the increased complexity of these cases.
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FeaturesESG and financial returns: Schemes can have their cake and eat it too
ESG and financial returns: Schemes can have their cake and eat it tooData crunch: Schemes are increasing their investments in sustainable thematic strategies, which allows trustees to keep their fiduciary duty of targeting returns while 'doing good'Enterkeywords.sh_embed {position: relative;height: auto;width:100%;z-index: 0;overflow: hidden;background-color: #222;color: white;font-family: 'Lato', 'Helvetica Neue', Helvetica, Arial, sans-serif;}.sh_embed ...
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NewsTrustees of Morrisons’ schemes in talks with Fortress after takeover bid
On the go: The trustees of Morrisons’ defined benefit schemes are in talks with representatives of Fortress Investment Group, which has made an offer to takeover the British retailer.
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NewsGovt to open new public sector scheme for judges in 2022
On the go: The Ministry of Justice has launched a consultation on creating a new public sector pension scheme for judges, which will address the issues caused by the McCloud judgment and allow the government to have a pensions-based solution for the whole judiciary.
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NewsBorder to Coast on track to deliver £110m in cost savings
On the go: The circa £24.7bn Border to Coast Pensions Partnership is on track to deliver more than £110m of cumulative net savings within its first decade of pooling and more than £250m in the first 15 years, according to its annual report.
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NewsEmployer seeks £265,000 in damages from Plumbing Pensions
A plumbing employer has filed a summons at the Court of Session in Edinburgh seeking more than £265,000 in damages from Plumbing Pensions over its alleged repeated failures to manage the scheme’s Section 75 debt.
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NewsPodcast: Too much jargon hampers sustainable investing drive
Podcast: Politicians and the pensions industry risk jeopardising the progress made on sustainable investing because they are too fond of jargon. Members are keen to get involved, but they have to understand what they are getting involved in. Georgia Stewart, chief executive of Tumelo, and Chris Hulatt, co-founder of Octopus Group, talk sustainability, inter-generational fairness and cryptocurrencies.
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NewsLeek United Building Society joins Enplan platform
On the go: The circa £45m Leek United Building Society Pension and Assurance Scheme has joined the Enplan Pension Platform, which will provide governance, actuarial, investment and administration services to the scheme.
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NewsKingfisher completes £900m buy in; Londis scheme winds up
Risk watch: A roundup up of the latest derisking transactions, including the Kingfisher scheme’s £900m buy-in with Aviva and the Londis scheme winding up after a bulk annuity transaction.
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NewsPASA launches guidance to help schemes’ e-admin journey
On the go: The Pensions Administration Standards Association has launched new guidance on e-administration, as schemes need to get their data in order to comply with the pensions dashboards deadline in 2023.
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NewsDWP’s stronger nudge is not ‘fit for purpose’
On the go: The “stronger nudge” towards guidance recently proposed by the Department for Work and Pensions is inadequate on its own and will impact members too late in the process to have a real effect, according to industry experts.