More defined benefit news – Page 156
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News
Local authority schemes see low take-up for 50/50 contributions
Local authority schemes have reported low initial take-up for the 50/50 contribution option introduced in Local Government Pension Scheme reforms earlier this month as an alternative aimed at stopping some people leaving the scheme altogether.
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The Cut: What reporting changes could mean for your scheme's financial statements
Today the Pensions Research Accountants Group released a statement of recommended practice for pension schemes' financial reports, under a three-month consultation that will close on July 16.
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Surrey looks to lock in gains as funding level rises
Surrey County Council Pension Fund is exploring derisking strategies after its assets made further gains against liabilities since its 2013 triennial valuation.
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Consultants expect DC flexibility to drive DB member transfers
Defined benefit schemes could see a short-term increase in requests from members to switch their benefits into defined contribution schemes, due to potential government plans to restrict such transfers, benefit consultants have predicted.
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University funds running equity risk as holdings rise
University pension schemes have seen their equity holdings increase as a proportion of their portfolio, a survey of self-administered trusts in the sector has revealed, sparking debate among experts about their exposure to market volatility.
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Greater intermediary fee transparency needed to assess value, experts urge
News analysis: Investment management and consultant fees need to be more transparent to allow schemes to more accurately measure whether they are getting value for money, industry figures have said.
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Schemes delay mergers over tax risk concerns
Schemes are thinking twice about undertaking bulk transfers of benefits to avoid the risk of passing on individual tax charges to members as they await final official rules.
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The Cut – Four lessons from the latest ONS pensions data
The Office for National Statistics revealed last week auto-enrolment has so far boosted the proportion of employees that belong to a workplace pension to 50 per cent from 47 per cent.
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Multi-asset exposure surges as schemes focus on volatility
The proportion of pension schemes with multi-asset fund exposure has risen to 83 per cent, up from 70 per cent just six months ago, as schemes look to control volatility and mitigate macroeconomic risk.
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NewsBP fund moves to guard against covenant risk
BP Pension Scheme has formalised a derisking framework with its sponsor to dampen covenant, asset value and investment risks, delegates at the National Association of Pension Funds’ investment conference 2014 heard last week.
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End of contracting-out adds urgency to CDC decision
Data analysis: Figures show more than four-fifths of active defined benefit members remain contracted out, as consultants have said the costs associated with ending the arrangement have bolstered the hunt for alternatives.
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Isle of Wight bolsters governance ahead of LGPS reform
Isle of Wight Pension Fund has identified areas ripe for improvement in its governance, including more frequent funding monitoring, as local government schemes brace for next year's reforms to the sector.
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BT 'pleased' as 30,000 members seek Pie advice
BT has attracted interest for its pension increase exchange exercise from more than 30,000 members, as one of the highest-profile employers to offer the liability-reducing tool.
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NewsEmployers consider RPI/CPI switch as gap widens
Consultants have reported more employers trying to overcome the difficulties of switching from using the retail price index to the consumer price index to reduce scheme liabilities as the gap between the two measures widens.
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NUJ to appeal ombudsman ruling over BBC pensionable pay cap
The National Union of Journalists will appeal the pensions ombudsman’s determination that the BBC's pensionable pay cap did not breach its obligations, as more employers look to such tools to derisk schemes.
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Scheme valuation process 'broken', consultants say
Industry figures have called the triennial valuation process poorly suited to help schemes assess their needs, with technological advances allowing trustees to instantly assess their scheme’s funding level.
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Civil service schemes centralise admin to boost engagement
The civil service pension schemes are moving the administration of their active, deferred and pensioner members to a single system to reduce costs and increase member engagement.
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Charities await guidance to reduce liability squeeze
Not-for-profit employers that belong to multi-employer schemes are waiting for further guidance on dealing with debt risk that could trigger insolvency.
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Lloyds derisks to stabilise scheme funding
One of Lloyds Bank's defined benefit pension funds has increased its allocation to bonds in an effort to boost stability, as European regulation puts pressure on bank sponsors to reduce volatility.
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Data analytics use on the rise to inform investment decisions
Four in five institutional investors have increased the use of data analytics in the past three years to inform investment and risk-management decisions, and to meet tougher regulatory requirements.