More defined benefit news – Page 38
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NewsBrookfield to safeguard HomeServe DB pensions in £4bn deal
On the go: Canadian asset manager Brookfield has said that it will retain repair business HomeServe’s current defined benefit pensions arrangements, following the announced agreement of a £4bn takeover of the company.
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NewsFCA urges BSPS members to quickly file complaints
The Financial Conduct Authority has written to individuals who transferred out of the British Steel Pension Scheme in 2016, urging them to file their complaints as soon as possible.
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NewsLambeth eyes affordable housing, BCPP picks ESG data provider
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, including the London Borough of Lambeth Pension Fund planning investment in affordable housing, and the Border to Coast Pensions Partnership appointing an ESG data provider.
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NewsWater Companies scheme trustee stands firm over surplus transfer
David Sankey, chair of the £710mn Water Companies Pension Scheme, has assured MPs that the trustee has fulfilled its duties with respect to the planned transfer of the Bristol Water section’s surplus to its sponsor.
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NewsPodcast: Partial AE reform should be prioritised before long-term fix
Podcast: The absence of auto-enrolment reform from the Queen’s speech means the government will be hard-pressed to meet its middle-of-the-decade deadline to achieve it. The priority should be getting the most important parts done as quickly as possible, and introducing the rest of the 2017 reform proposals enacted longer-term. Sackers partner Helen Ball and Mark Ormston, chair of the Industry Policy Committee at the Pensions Administration Standards Association, discuss auto-enrolment, online safety and the proposed value for money framework.
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NewsDundee University staff plan strike action over DB scheme closure
On the go: More than 100 University of Dundee staff will be balloted on strike action after rejecting plans to close its defined benefit scheme to new members, Unite the union has announced.
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NewsFree tool launched to help pension transfer clients identify scams
On the go: Help & Advice has introduced a scam predictor to allow those considering a pension transfer to check whether they are at risk of being scammed.
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NewsCapita Pensions Solutions narrows 2020 losses with restatement
On the go: Capita Pensions Solutions has cut its 2020 pre-tax losses by £200,000 after revenues and costs from a 2017 contract were retrospectively recognised in its income statement.
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NewsRailways scheme urges patience as it reviews early retirement
On the go: The Railways Pension Scheme is reviewing its early retirement factors and is advising members considering taking early retirement that they should wait until the review is completed before making their decision.
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NewsJames Walker scheme agrees full £43mn buy-in
On the go: The James Walker (Leith) Limited Retirement Benefit Scheme has agreed a full £43mn buy-in with Just Group.
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NewsPASA bolsters cyber attack admin checklist amid crime surge
The Pensions Administration Standards Association has published a new cyber crime checklist, advising administrators to keep up to speed with legislation and assess their vulnerabilities to cyber attacks amid a spike in online criminal activity.
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NewsPLSA’s retirement living standards now cover 35mn members
On the go: Pension scheme communications from more than 100 organisations now provide up to 35mn members with access to the Pensions and Lifetime Savings Association’s retirement living standards, the industry body has announced.
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NewsBT awards $1bn private equity mandate to Hermes
On the go: The £57.5bn BT Pension Scheme has awarded a $1bn (£801.4mn) private equity mandate to Hermes GPE, further building on two previous private equity investments with the manager.
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NewsOmbudsman fines Cabinet Office and civil service scheme admin
The Pensions Ombudsman has partly upheld a complaint against the Cabinet Office and MyCSP, the administrator of the Civil Service Pension Scheme, after they failed to properly process a member’s request to cease payments to his “added years contract”.
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NewsGovernment issues call for evidence on climate investment
On the go: The UK government is exploring ways to increase the mobilisation of public and private investment to achieve 2030 climate and nature targets in emerging and developing economies, having launched a call for evidence on May 12.
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NewsNHS sends almost 3,000 erroneous pension statements
’Nearly 3,000 members of the NHS Pension Scheme have been sent erroneous pension statements, leading to criticism from the British Medical Association.
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NewsPensions sector warned as business data breaches almost triple
On the go: Pension trustees have been urged to be vigilant after businesses experienced an increase in cyber attacks and data breaches over the past year, as cyber criminals upped their game during the shift towards homeworking.
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NewsBT slashes pensions deficit by £4bn in one year
On the go: BT has cut its defined benefit pensions deficit by £4bn in the year to March 31 2022, a fall partly attributed to a higher discount rate due to increased yields.
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NewsPublic scheme bulk transfers resume after McCloud
On the go: Bulk transfers between public service pension schemes have recommenced in England, Scotland and Wales, after they were put on hold due to uncertainty over the impact of the McCloud judgment.