All DLA Piper articles
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NewsMorrisons scheme secures buy-in on back of gilt yields rise
On the go: The Wm Morrison 1967 Pension Scheme has agreed a £762mn buy-in with Rothesay, securing the remainder of the liabilities for the 1967 section of the Morrisons Retirement Saver Plan.
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NewsUniversities Superannuation Scheme acquires Butlin’s assets
On the go: The £90.8bn Universities Superannuation Scheme has acquired three real estate assets handled by holiday resort operator Butlin’s.
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NewsSmiths Group scheme secures final £640mn buy-in
On the go: The £1.7bn TI Group Pension Scheme has completed a £640mn buy-in with Rothesay, covering its remaining uninsured members.
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NewsEngineering company completes DB section full buy-in
On the go: The Stantec Pension Plan (UK), which comprises the Stantec UK Defined Contribution section, Stantec UK Defined Benefit section, and Stantec Treatment Defined Benefit section, has completed a full buy-in for its Treatment DB section with Just.
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NewsNorthern Bank agrees two buy-ins, Phoenix signs reinsurance deals
Riskwatch: A roundup up of the latest derisking transactions, including Northern Bank Pension Scheme’s two buy-in transactions with Aviva, and Phoenix Group’s two longevity reinsurance transactions with a MetLife subsidiary.
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NewsGallaher Pension Scheme agrees £1.7bn buy-in, IMI derisks further
Risk watch: A roundup up of the latest derisking transactions, including the Gallaher Pension Scheme’s deal with Standard Life, and the IMI 2014 Deferred Fund buy-in with Pension Insurance Corporation.
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NewsMitchells & Butlers agrees buy-in, AvestaPolarit derisks with Rothesay
Risk watch: A roundup up of the latest derisking transactions, including the Mitchells & Butlers scheme’s £650m full buy-in with Legal & General and the AvestaPolarit scheme’s bulk annuity transaction with Rothesay.
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NewsHealthcare diagnostics scheme completes £130m full buy-in
On the go: The PerkinElmer (UK) Pension Scheme has completed a £130m full buy-in with Phoenix Group subsidiary Standard Life.
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OpinionHow declarations of intent might change the world of pensions
A lot of attention has been focused on the Pensions Regulator’s new criminal powers under the Pension Schemes Act 2021. There are other changes coming, though, which may have the greatest potential to affect corporate transactions on a day-to-day basis.
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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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News
Poor data management keeps ombudsman busy
The Pensions Ombudsman has ruled in favour of a former bank employee in a dispute about the transfer of deferred pension liabilities, in a case reinforcing the impact that poor data management can have for schemes and members.
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News
Regulator to be empowered by expansion of ‘snoopers’ charter’
The Pensions Regulator is to be given new powers including the right to harvest communications data, in order to prevent “serious crime”, according to draft legislation published last month.
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Opinion
Advertising transfer values: trustee duty or danger to members?
When trustees at the Rexam Pension Plan noticed a substantial spike in defined benefit transfers out of the scheme last year, it seemed like good news.
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News
FRC review threatens to impact actuarial profession
An advisory group to the government review of the Financial Reporting Council is to explore the extent to which actuaries should be subject to formal regulation in response to the pensions-related nature of recent corporate failures.
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Opinion
How can schemes assess employer covenant strength?
Darren Redmayne chuckles good-naturedly, at what must be the thousandth time a journalist has asked whether the FTSE 100’s recently revealed accounting surplus means their defined benefit pension problems have gone away.
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NewsFCA transfer proposals welcomed but timeline draws criticism
The Financial Conduct Authority’s new proposals on pension transfers have been widely welcomed across the industry, but concerns around the 2018 implementation of the final rules remain.
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NewsTrustees must secure funding after GM sells Vauxhall to PSA
General Motors has announced the sale of Vauxhall to French car manufacturer PSA Group, but will retain responsibility for the company’s UK pension obligations, sparking concerns over the security of members' benefits.
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NewsLGPS unmarried couples discrimination unlawful, Supreme Court rules
The Supreme Court has ruled that regulations requiring unmarried Local Government Pension Scheme members to nominate a cohabiting partner in order for them to receive a survivor’s pension contravenes the European Convention on Human Rights.
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FeaturesRexam reduces membership through commutation exercise
The Rexam Pension Plan has carried out a trivial commutation exercise, contributing towards a reduction in total membership as defined benefit schemes are trying to reduce costs.
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News
Court of Appeal safeguards bankrupts’ undrawn pensions
Savers who become bankrupt but have not yet drawn their pensions will not have to hand them to creditors, after a court ruling on Friday put an end to fears that pension pots were at risk.