More defined benefit news – Page 122
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Life expectancy flatlines for first time in decades
Life expectancy in the UK has flatlined in the last two years, according to the Office for National Statistics, with drops in the life expectancy of babies born in Scotland and Wales putting an end to decades of improving longevity.
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Transaction costs make up quarter of management fees
Some of the largest pension funds in the world are paying an average of 86.3 basis points in total annual investment costs, with 24 per cent of these fees made up of transaction costs, according to new research.
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Handful of schemes in advanced talks with Pension SuperFund
The Pension Superfund has engaged in serious dialogue with approximately a dozen pension schemes with a view to them transferring into the defined benefit consolidator, according to its new chief executive.
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Field asks TPR to learn lessons as Kodak zombie set to enter PPF
The chair of the Work and Pensions Committee has written to the Pensions Regulator asking it to reflect on lessons it should have learned from its handling of the Kodak Pension Plan, which this week announced it faced Pension Protection Fund entry.
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Mercer parent's JLT acquisition brings consulting giants under one roof
On the go: Marsh & McLennan, the insurance broker and consultancy that owns Mercer, has announced it is to buy Jardine Lloyd Thompson for $5.6bn (£4.3bn) in cash.
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Transparency worries hinder flows into active quant strategies
More than half of institutional investors are wary of using quantitative investment strategies, with a perceived lack of transparency registering at the top of investors’ concerns, according to new research.
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TPR to introduce one-to-one supervision for 25 biggest schemes
On the go: The Pensions Regulator has introduced a new supervision regime, which includes one-to-one supervision of 25 of the largest schemes in the UK, and will aim to monitor all schemes more closely.
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DB governance: Small schemes fail to keep pace
Small defined benefit schemes are still lagging behind their larger counterparts when it comes to governance standards, new research from the Pensions Regulator has shown.
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One-fifth of FTSE 350 companies do not declare DB funding positions
Employers should be legally required to disclose their defined benefit scheme deficits on a technical provisions basis, along with details of the associated recovery plan durations and contributions agreed, Lincoln Pensions has said.
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UK’s three biggest public schemes failing on climate change
The Universities Superannuation Scheme, the Railways Pension Scheme and the Electricity Supply Pension Scheme have been slammed for the quality of their response to climate change.
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CJEU rules against PPF cap
On the go: The Court of Justice of the European Union has ruled that the cap imposed on benefits paid by the Pension Protection Fund is unlawful when it reduces the payments made to a saver by more than half.
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PPF must not cut pensions by more than half, EU court rules
The Court of Justice of the European Union has ruled that the cap imposed on benefits paid by the Pension Protection Fund is unlawful when it reduces the payments made to a saver by more than half.
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NewsNHS pensions delayed after in-house admin transition
NHS workers are experiencing delays when claiming their pensions, owing to glitches after payroll administration was moved in-house from third-party administrator Equiniti.
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NewsWhitbread expected to plug deficit following Costa sale
Leisure group Whitbread is likely to fill the deficit in its defined benefit scheme after having agreed the sale of coffee chain Costa to drinks group Coca-Cola, according to Numis broker Tim Barrett.
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PLSA pitch for light-touch tender rules raises eyebrows
The Pensions and Lifetime Savings Association has called for mandatory fiduciary management tenders mandates to be closed processes with no minimum number of applicants, but some experts have questioned whether the move would do anything to change the status quo.
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Regulator calls for schemes to consider lowering transfer values
On the go: The Pensions Regulator has asked the trustees of several defined benefit schemes to contemplate cutting transfer values for workers opting out of schemes.
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Regulator tells schemes to consider cutting transfer values
The Pensions Regulator asked the trustees of 14 defined benefit schemes to review their transfer processes and consider cutting transfer values for members considering cashing in their benefits.
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Renishaw in recovery plan discussion with regulator
British engineering company Renishaw has been in discussions with the Pensions Regulator after the watchdog questioned its recovery plan, potentially leading to a £45m cash contribution to the scheme if the current recovery plan is terminated.
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Dromey: Government can use HPE contracts for pensioner justice
The shadow pensions minister has called on ministers to leverage lucrative contracts it awards to Hewlett Packard Enterprise to persuade the company to protect pensioners who are seeing their benefits eroded by inflation.
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Industry slams lack of detail on regulator's new powers
Plans to reinforce the regulation of defined benefit schemes in the UK lack depth and may not have been able to prevent the pensions scandals that have rocked the industry in recent years, according to industry experts.