More defined benefit news – Page 108
-
News
Court approves BA trustees' pension increase settlement
On the go: Trustees of British Airways’ defined benefit schemes have had a settlement allowing them to pay discretionary increases approved by the High Court.
-
News
LGPS pension bill to rise 1% with McCloud case
Fears that a legal case over discriminatory pensions could dent the funding of the Local Government Pension Scheme have been partially allayed, after preparations for the plan’s valuation found that liability increases will be limited.
-
News
SSE further de-risks with £750m buy-in with PIC
On the go: The Scottish Hydro-Electric Pension Scheme – sponsored by Scottish and Southern Energy – has converted a longevity swap into a £750m buy-in contract with the Pension Insurance Corporation.
-
News
DB deficit shrinks over October
On the go: UK defined benefit schemes are edging closer to the funding needed to buy out the Pension Protection Fund-level benefits, according to an update from the lifeboat fund.
-
News
Scheme goes to court to avoid £10m rules drafting mistake
An orthotics and prosthetics manufacturer has been forced to go to court to amend a word in pension scheme rules drafted 20 years ago, which if left unchanged would have cost the plan £10m.
-
News
Scottish plumber’s plight highlights ongoing Section 75 issue
The boss of a small Scottish plumbing company is the latest to receive a bill of more than £1m to cover a shortfall in a multi-employer defined benefit scheme.
-
News
Govt agrees to pension guarantees for mineworkers
On the go: The government has agreed to guarantee members of the Mineworkers’ Pension Scheme an annual increase in line with the retail price index, even if there is a deficit in the pension fund.
-
News
FCA scam warning: 22 years of pension savings gone in 24 hours
On the go: Victims of pension scams lost an average of £82,000 to fraudsters last year, equivalent to 22 years’ worth of savings evaporating within 24 hours, according to the Pensions Regulator and the Financial Conduct Authority.
-
News
Will Generation X be the most vulnerable at retirement?
On the go: Thirteen million people born between 1966 and 1980, the so-called Generation X, will face acute problems as they come up to retirement in the next 12 to 28 years unless decisive action is taken, according to the Pensions Policy Institute.
-
News62 private schools exit teachers’ scheme as costs rise by 43%
A total of 62 independent schools have told the government they plan to leave the Teachers’ Pension Scheme, with more set to follow.
-
News
Superfund delays are ‘egregious waste’ of investors’ capital
The chief executive of The Pension SuperFund has hit out at the government, over its failure to agree a regulatory framework for defined benefit consolidation despite ministers having encouraged the creation of the sector in the first place.
-
NewsMothercare UK pensioners avoid PPF haircut with restructure
A transfer of sponsor has saved Mothercare UK’s pension schemes from falling into the Pension Protection Fund, following the collapse of the retailer into administration on Tuesday.
-
News
UCU calls 8-day pensions strike affecting 60 universities
On the go: University staff will walk out at 60 of the UK's higher-education institutions later this month, after a conflict between unions and bosses on pensions and pay failed to reach a resolution.
-
News
University staff back strike action over pensions
On the go: Members of the University and College Union have voted in favour of strike action over changes to the Universities Superannuation Scheme, the latest threat of a walkout in a long-running pensions dispute.
-
News
Lords bill seeks to give TPR dividend approval and scrap PPF cap
On the go: An ambitious bill brought before the House of Lords last week would give the Pensions Regulator approval over company dividend payments, and remove the cap on compensation payments made by the Pension Protection Fund.
-
News
Johnson lambasts billion-pound costs of LGPS
The stellar investment returns of the Local Government Pension Scheme over the past decade may be overplayed, according to a leading expert from a right-wing think tank, who also controversially claimed that the scheme offers poor value for money.
-
News
Aviva staff scheme completes first buy-in
On the go: Aviva Life & Pensions UK has completed a £1.7bn bulk annuity buy-in of the Aviva Staff Pension Scheme.
-
News
KPMG in exclusive talks with Exponent to sell pensions arm
On the go: KPMG has confirmed that it is in exclusive talks with private equity firm Exponent to offload its pensions arm.
-
News
ACA: Widespread indecision over complexity and cost of GMP equalisation
On the go: The complexity and cost of equalising guaranteed minimum pensions is a major concern for many employers, who have yet to decide on how they should respond to the legal requirement to act, according to Association of Consulting Actuaries research.
-
News
RPI changes could hit pensions funding by up to 10 per cent
On the go: Reforms to the calculation of the retail price index could have a massive impact on pension funding, LCP reveals in a new report.