All Defined benefit articles – Page 94
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News
Punter Southall revives multi-employer concept in consolidator
As consolidation offers multiply in the defined benefit market and superfunds wait for their first transactions, Punter Southall is proposing a revival of the multi-employer concept for smaller schemes, which could bring their sponsors savings of 80 per cent.
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News
Sustainability and adequacy still dragging UK's pension system
Data crunch: The UK has fallen one place to 15th in the Mercer CFA Global Pensions Index, despite seeing a marginal improvement in its score, while Covid-19 increases pressure on retirement systems worldwide.
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News
Ibstock Pension Scheme completes £340m buy-in
On the go: Ibstock has completed a £340m buy-in transaction with Just Group representing 50 per cent of total liabilities of its defined benefit pension scheme.
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News
Govt u-turns on fees disclosure in simpler annual statement
The government has abandoned plans to make pension providers include costs and charges in their new simplified annual statements, which could become mandatory for defined contribution schemes in the near future as progress in this area remains slow.
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News
TPR eyes pivot to ‘Generation DC’
On the go: The Pensions Regulator has set out long-term priorities for the next 15 years, envisaging a shift in focus towards ensuring the financial wellbeing of defined contribution savers.
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News
Doctors’ admin saga rumbles on as compensation issued
Doctors are up in arms over a long history of serious pensions administration shortcomings in the lumbering NHS Pension Scheme, some of which are still surfacing.
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News
Clara raises capital from Canadian pension-owned reinsurer
On the go: Defined benefit superfund-in-waiting Clara-Pensions has attracted new investment from Wilton Re, as the pensions industry waits for the Pensions Regulator to give either of the two commercial consolidators its blessing.
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FeaturesBT Pension Scheme sets ambitious 2035 net-zero goal
The UK’s largest private sector pension scheme now aims to be one of the greenest, with a new goal to achieve net-zero greenhouse gas emissions by 2035 across its £55bn portfolio.
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NewsGoing nowhere? Three big ideas to break DB’s 10-year stagnation
Going nowhere? Three big ideas to break DB's 10-year stagnationFor all the talk of endgames that abounds in the defined benefit pensions industry, the inconvenient truth is that funding levels have remained almost completely flat despite a decade of contributions and stellar asset returns. What are the solutions to DB's ...
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News
DC contributions too small to allow for sustainable retirements
Stagnant incomes, rising wealth inherited later in life, and the relative poverty of defined contribution schemes compared with older defined benefit schemes are all factors that threaten the sustainability of retirement income, according to speakers at the Pensions and Lifetime Savings Association’s annual conference.
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News
One in five teachers may have incorrect pension entitlements
One in five teachers may be at risk of receiving incorrect information about their pension entitlements, with discrepancies also likely to be found in other decentralised public sector pension schemes with multiple employers.
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OpinionPension funds set to play a bigger role in solving homelessness
Institutional investors have an opportunity to play a role in delivering a lasting solution to homelessness, a social issue that affects more than 300,000 people in the UK and is set to only get worse as the coronavirus pandemic continues to take its toll on the economy.
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OpinionSmaller schemes could benefit from ‘fast-track lite’ option
As the consultation on the Pensions Regulator’s funding code of practice closed on September 2, there was general agreement across the industry regarding the proposed twin-track compliance approach, albeit with concerns about whether bespoke will be able to live up to its name — or merely be fast-track in disguise.
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NewsPPF eyes deteriorating credit ratings among DB sponsors
Deteriorating defined benefit sponsor health has led to a three-fold increase in the level of liabilities belonging to schemes that could end up in the Pension Protection Fund over the next 18 months.
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News
Timms warns transfer rules ‘must be changed’
On the go: Stephen Timms, chair of the Work and Pensions Committee, has warned that transfer rules are not working and must be changed if the industry is to put a stop to pension scams.
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News
PPF reserves drop 16% due to pandemic
On the go: The Pension Protection Fund saw the value of its reserves decrease by 16 per cent in 2019-20 due to the impact of the markets’ reaction to the Covid-19 pandemic on its return-seeking assets.
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News
McCloud remedy could take two years to implement, PLSA warns
On the go: The Pensions and Lifetime Savings Association has warned it may take more than two years for the Local Government Pension Scheme to implement the McCloud remedy, casting doubt on the government’s proposed timeframe.
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News
Govt consultation suggests abandoning GMP conversion
The Treasury has indicated it may axe guaranteed minimum pension conversion in a new consultation, with experts citing administrative costs as a reason to ditch the idea.
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News
Charity participants in LGPS face going concern issues
An Institute of Chartered Accountants of Scotland report laying out guidance for charity trustees on going concern has prompted a second look at their participation in the Local Government Pension Scheme, with experts warning that many could face crippling debt payments as they run out of members.
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News
South Yorkshire pensions to go green by 2030
On the go: The South Yorkshire Pensions Authority, responsible for administering the county’s £9bn local authority pension scheme for its 160,000 members, has adopted a net-zero by 2030 policy to govern its portfolio.