More defined benefit news – Page 145
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The Pensions Trust tackles state pension confusion
The Pensions Trust has updated member communications to prepare for the end of contracting out, as research has shown low levels of understanding about the state pension changes.
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Tough timescales for asset pooling put LGPS on the spot
The government’s much-anticipated criteria for the reform of Local Government Pension Scheme investment contains few surprises, but industry experts have raised concerns over the tight timescales for funds to prepare and implement complex proposals.
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SPV helps Johnson Matthey reduce deficit by £145m
Johnson Matthey Pension Scheme has reduced its deficit by around £145m after taking a raft of measures to address its funding shortfall, including the creation of an asset-backed contribution vehicle comprised of third-party bonds.
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Shared pain, shared gain: Will risk-sharing get its day in the sun?
News Analysis: Collective defined contribution schemes have been put on ice by the pensions minister though the idea could come back on the agenda in the future. But are UK employers ready for risk-sharing?
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LGPS pooling puts in-house investment in the spotlight
News Analysis: Local authority pension fund pooling activity is gathering pace ahead of an upcoming government consultation on criteria for cutting costs, bringing with it a push towards greater in-house investment capability.
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NewsSmiths uses escrow to help slash £250m from scheme deficit
Technology and engineering conglomerate Smiths Group has signed over its £153m escrow account to its scheme in a deal that demonstrates the positive outcomes that can be achieved through strong trustee and employer collaboration.
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Methodist Church seeks £25m saving by converting to CPI
The Methodist Church Council is consulting with all scheme members, including existing pensioners, on a proposal to link future pension increases to the consumer price index in an bid to temper the rising cost of defined benefit provision.
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NewsPremier Foods eats away at deficit by more than £570m
Food manufacturing company Premier Foods decimated its IAS 19 deficit to £32.8m from £603.3m since December 2013 thanks to its hedging strategy and a change in discount rates.
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NewsSainsbury's and ITV get creative to tackle deficit challenge
Broadcaster ITV and retailer Sainsbury’s are just two household-name employers to announce “chunky” new deficit funding to weather the harsh conditions buffeting defined benefit pension schemes.
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Rebus reviews funding strategy in self-sufficiency drive
Rebus Pension Scheme is shooting for funding self-sufficiency with a review of its investment strategy aimed at boosting returns and diversification, but some commentators have raised questions over its loose definition.
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First Aberdeen drivers see pensionable pay drop
FirstGroup changed the basis for its calculation of pensionable pay last year to comply with auto-enrolment legislation, but the nationwide shift has disproportionately impacted the benefits of First Aberdeen bus drivers.
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QE placing pension systems in jeopardy
Data Analysis: Quantitative easing has exacerbated the movement of pension risk from employers to individuals, placing the future of the entire system at risk, according to a report published last week.
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How schemes can protect their members online
Trustees must be extra vigilant in their assessment of online platforms and review data-handling processes to protect members from the growing threat of cyber crime, experts have said.
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NewsMolins saves £500k a year after strategy overhaul
Cigarette manufacturing company Molins has revised its investment strategy to reduce costs and focus on outgoings rather than capital growth, as many defined benefit schemes creep closer to being cash-flow negative.
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NewsFT chooses new provider as DC governance debate rumbles on
Employers eyeing a transition into a contract-based defined contribution arrangement must consider the impact of a shift away from trust-based governance on members and administration, experts have said.
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LPFA confronts employer risk through covenant monitoring
Keeping a constant eye on the financial strength of employers has brought the London Pensions Fund Authority £310m worth of guarantees, assurances and cash since its 2013 triennial valuation.
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NewsDebenhams splashes out more on recovery despite surplus
Debenhams pension scheme trustees have secured higher employer contributions as part of the recovery plan despite having reached an IAS 19 surplus earlier this year, demonstrating the discrepancies between two scheme funding calculation methodologies.
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MiFID II: LGPS retail label could stymie alternative investments
Local government pension funds could find themselves reclassified as retail investors from 2017 under an upcoming European directive, raising questions over schemes’ access to certain investment strategies.
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NESPF saves 108 days with new payroll software
North East Scotland Pension Fund has made “huge savings” in administration costs and time through its new payroll software, allowing it to focus on the changing structure of the Scottish Local Government Pension Scheme.
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Autumn Statement could blow icy winds for LGPS
An anticipated hit to local authority funding in the government's Autumn Statement next month is threatening to ratchet up pressure on the Local Government Pension Scheme.