More defined benefit news – Page 120
-
News
GMP ruling could see £50bn of buy-ins restructured
On the go: Insurers are set to be deluged with a flood of requests to restructure buy-in contracts as a result of the High Court decision in the Lloyds Banking case, which held that guaranteed minimum pensions must be equal for men and women.
-
NewsNo-deal Brexit a possibility as McVey and others quit
Esther McVey has resigned as secretary of state for work and pensions amid a raft of cabinet resignations, raising speculation about the impact of a no-deal Brexit on the pensions sector.
-
News
DB health improves but covenant strength ignored
Defined benefit pension schemes are not paying enough attention to the likelihood of their employer going bust when setting investment strategy, according to a new study assessing funding levels in the context of sponsor health.
-
News
Half of today’s over-40s are retirement savvy
On the go: Encouragingly, half of the over-40s in the UK have sufficient basic knowledge of the factors that may influence their later-life income to avoid the worst retirement pitfalls. However, one in 14 people are at high risk of making poor financial choices.
-
News
UK pension scheme deficit triples over October to £107.7bn
On the go: The aggregate deficit of the UK’s 5,588 pension schemes in the PPF 7800 Index has nearly tripled over October to £107.7bn at the month’s end, from a deficit of £38.7bn at the end of September 2018.
-
News
Poor scheme data threatens to undermine GMP equalisation
More than 60 per cent of pension schemes are not expected to have sufficient data to carry out equalisation of guaranteed minimum pensions, recent research has shown.
-
News
UK employees set to work until they drop
On the go: The number of “early retirees” is at a 23-year low, according to latest employment figures from the Office for National Statistics, signalling that despite vestiges of ageism the older worker is in the ascendant.
-
News
How far away is the pensions dashboard from becoming a reality?
A complete and up-and-running pensions dashboard could be years away, according to experts, as implementation and credibility concerns come to the fore.
-
News
FOS receives just 300 pensions transfer complaints
On the go: Since the introduction of the pension freedoms in 2015, the Financial Ombudsman Service has received fewer than 15,000 complaints involving pensions. Of this figure, just 1,700 have been about pension freedoms and around 300 of these complaints were about defined benefit transfers.
-
News
100 schools could close as a result of pension hike
On the go: A massive rise in the employer contribution to the Teachers' Pension Scheme could lead to the closure of 100 prep schools, according to the special education website TES which first warned of the approaching crisis for the independent schools sector last month.
-
NewsBaptist scheme pulls DGF for global infrastructure
Trustees of the defined benefit Baptist Pension Scheme have allocated to global infrastructure and dropped a struggling diversified growth fund manager.
-
News
More unions eye CDC as possible negotiation outcome
What is good enough for postal workers is, it would appear, not good enough for academics.
-
NewsSupreme Court: Barnardo's wording does not allow RPI/CPI switch
The Supreme Court’s rejection of an attempt by Barnardo’s to downgrade its pension increases is a reminder that courts are unlikely to bend rules to accommodate the commercial needs of defined benefit sponsors, according to legal experts.
-
News
OPDU launches independent pension trustee liability policy
On the go: The Occupational Pensions Defence Union has launched a pensions trustee policy aimed at individual independent trustees in the UK.
-
NewsImperial Brands’ proposal to disband member forum ‘disappointing’
Imperial Brands is looking to discontinue a consultative committee at its Imperial Tobacco Pension Fund, arguing that the benefits gained by holding the forum do not warrant the cost, workload and logistical efforts required to run the twice-yearly meeting.
-
News
University of Manchester staff vote for strike action over pension closure
On the go: Support staff at the University of Manchester have voted overwhelmingly to take strike action over plans to cut and close their pension scheme.
-
News
Pensions gender pay gap reaches 40 per cent
On the go: Women retire with pension incomes almost 40 per cent lower than men on average, according to new research, despite recent legal efforts to ensure equality in the state pension system.
-
News
Aon: Do not 'just kick the tyres' on historic valuation approaches
On the go: Aon is urging sponsors and trustees of UK defined benefit schemes to do more than 'just kick the tyres on historic valuation approaches' and check their actuarial valuation choice is right for their scheme.
-
News
Govt must act on social care as crisis looms with rise in ageing population
On the go: A quarter of UK residents will be aged 65 years or over within the next 50 years. This is a result of improvements in life expectancy.
-
NewsThousands of Nationwide scheme members sign up to new portal
Nationwide Pension Fund has seen successful take-up of its new online pensions portal among members, as the scheme continues to put its faith in online communications and works on new developments for the portal.