More defined benefit news – Page 46
-
NewsUCU to ballot members on new strikes over employers’ USS deal
On the go: The University and College Union has announced new industrial action ballots at 149 universities, which will open on March 16 and run until April 8, as the row over the resolution of the Universities Superannuation Scheme’s 2020 valuation escalates.
-
NewsPension Protection Fund pulls out of Russia
On the go: The Pension Protection Fund will eliminate its negligible exposure to Russian assets when liquidity in the market improves, it has announced.
-
NewsDB schemes’ surplus drops £12.8bn in February
On the go: The aggregate surplus of the 5,215 defined benefit schemes in the Pension Protection Fund 7800 Index decreased by £12.8bn in February.
-
NewsAbrdn steals limelight from superfunds with DB master trust
Abrdn is set to join the ranks of defined benefit master trust providers, with plans to launch its scheme in the second quarter of 2022.
-
NewsStrike suspended as schools and unions meet over teachers’ pensions
On the go: Unions have suspended plans for more strike action at 23 private schools to allow talks to take place over planned changes to teachers’ pensions.
-
NewsMcCloud legislation on track for April
On the go: Secondary legislation necessary for the implementation of the McCloud remedy is on track to be published by April 1, and another round of consultations is due before October, the government has confirmed.
-
NewsChurch of England Pensions Board secures £160mn buy-in with Aviva
On the go: The £3.7bn Church of England Pensions Board has agreed a £160mn bulk purchase annuity buy-in with insurer Aviva Life & Pensions UK for its circa £646.1mn Church Workers Pension Fund defined benefit scheme.
-
NewsDashboards’ staging deadline too ambitious for LGPS
The government’s timetable for dashboards’ integration is likely to be too ambitious for the Local Government Pension Scheme, with administering authorities bogged down by other challenges, its pensions committee has warned.
-
NewsLGPS Russian exodus under way as TPR tells trustees to ‘be vigilant’
Local Government Pension Scheme funds are racing to slash their portfolios’ exposure to Russia and reassure members over the crisis, while the Pensions Regulator has issued new guidance to trustees expecting them to “be vigilant” on this matter.
-
NewsPandemic could cut FTSE 100 DB contributions by £5bn
On the go: The wider health effects of the coronavirus pandemic could see FTSE 100 defined benefit scheme sponsors slash longer-term contributions by around £1bn a year, new research has revealed.
-
NewsGovernment to impose McCloud costs despite significant opposition
The government has confirmed it will impose the costs of the McCloud remedy on public sector schemes’ 2016 valuations, despite its consultation garnering significant opposition from members and trade unions.
-
NewsUCU threatens yet more strikes over employers’ USS deal
On the go: The University and College Union has threatened yet more industrial action, including a marking and assessment boycott, as the row over the resolution of the Universities Superannuation Scheme’s 2020 consultation escalates.
-
NewsDe La Rue avoids DB scheme contribution hike
On the go: Money printer De La Rue has agreed a new schedule with its pension scheme, which will allow it to maintain its deficit repair contributions at £15mn a year until March 2029, saving it £57mn in cash payments.
-
NewsOpperman promises GMP conversion tax fix
On the go: Pensions minister Guy Opperman has clarified some of the provisions in a bill regarding guaranteed minimum pensions conversion, and pledged to work with HM Revenue & Customs on the tax implications.
-
NewsBorder to Coast hires consultant, Kempen sets carbon target
ESG spotlight:A roundup of the latest news on environmental, social and governance initiatives, with the Border to Coast Pensions Partnership appointing a climate change consultant, and Kempen Capital Management setting a carbon emissions goal for its portfolios.
-
NewsChemicals manufacturer scheme completes full £9mn buy-in
On the go: The Lakeland Laboratories Limited 2012 Retirement Benefit Scheme has completed a full £9mn buy-in with Just Group.
-
NewsRegulators need advice and guidance take-up targets
On the go: Conservative MP Nigel Mills has argued that the government needs to set a target or benchmark on what the level of take-up of advice and guidance needs to be for pension savers.
-
NewsSchemes retaliate over Russia’s invasion of Ukraine
Some of the UK’s most prominent pension schemes are dialling down their exposure to Russian assets in response to its attack on Ukraine.
-
NewsSurvivors must wait for McCloud remedy for pensions clarity
Survivors of deceased public sector scheme members may have to wait for the McCloud remedy to be implemented before discovering whether they are entitled to any of their spouse’s pension, a government minister has said.
-
NewsCoronavirus triggers medium-term uncertainty over liabilities
On the go: The coronavirus pandemic is driving uncertainty over life expectancies over the next five to 10 years, according to new research.