More defined benefit news – Page 48
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NewsPension transfer ‘red flags’ rise to 50% in January
On the go: Pension transfer ‘red flags’ increased to 50 per cent in January despite a dip in transfer activity, according to data from XPS Pensions Group.
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NewsHalf of UK’s DB liabilities to be insured within a decade
On the go: Some £1tn of the UK’s defined benefit pension liabilities will be insured by the end of 2031, according to new research.
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NewsUK bulk annuity deals drop at the end of 2021
Data crunch: The volume of bulk annuity transactions edged downwards towards the end of last year, according to new research, although buy-ins and buyout deals rose between Q3 and Q4.
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NewsInflation rises to 30-year high of 5.5%
On the go: Inflation in the UK has reached its highest level since March 1992 as the cost of living continues to rise.
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NewsPension chiefs encourage company stakeholder engagement
On the go: A group of pension executives has challenged companies to engage with their stakeholders and intensify their efforts to reach net zero emissions.
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NewsTwo-thirds of trustees are looking beyond buyouts
On the go: Two-thirds of pension trustees are considering other options besides buyouts as part of their schemes’ long-term funding goals, new research has revealed.
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NewsGovt dismisses USS guarantee as employers discuss new proposals
The Department for Education has dismissed the significance of a guarantee of Universities Superannuation Scheme benefits that early reports suggested could constitute a full government underwrite of the scheme, while employers have announced a short consultation on union proposals to resolve the 2020 valuation dispute.
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NewsHow Derbyshire scheme is using sustainability to generate returns
The trustees of the £5.6bn Derbyshire Pension Fund are taking climate change seriously.
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NewsWeir scheme and Capita to pay member after GMP blunder
The Weir Group Pension and Retirement Scheme, along with its former administrator Capita, have been ordered by the Pensions Ombudsman to pay a member £2,000 over the poor handling of his transfer value information.
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NewsLloyds Bank Pension Scheme signs £5.5bn longevity swap
On the go: The circa £21.4bn Lloyds Bank Pension Scheme No.1 has entered into a £5.5bn longevity insurance and reinsurance arrangement with Scottish Widows and SCOR.
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NewsBuck completes first ‘standalone’ GMP equalisation project
On the go: Buck claims it has completed the industry’s first ‘standalone’ guaranteed minimum pension equalisation project.
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NewsPension rules extended to October for returning NHS staff
On the go: The government has extended its relaxation of pension rules by seven months for NHS staff returning to work so they are not hit by reduced pension payments.
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NewsUSS strengthens net zero goal, PIC and Railpen invest in social housing
ESG spotlight: A roundup of the latest news on environmental, social and governance initiatives, as the Universities Superannuation Scheme increases the scale of its net zero ambitions, the Pension Insurance Corporation backs Northern Irish social housing and the Railways Pension Fund agrees to fund affordable housing in east London.
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NewsRegulators should look at the role of introducers in British Steel scandal
On the go: Regulators have been urged to look again at the role of introducers in the British Steel Pension Scheme transfers scandal that has seen more than £20mn paid out in compensation.
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NewsLecturers strike again over USS benefit cuts
On the go: Staff at 44 institutions are to walk out once again over planned benefit cuts to the Universities Superannuation Scheme.
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NewsLondon CIV launches alternative credit fund
On the go: London CIV, which oversees around £26bn on behalf of 32 London Local Government Pension Schemes worth a collective £45bn, has launched its Alternative Credit Fund.
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NewsFCA says dashboards will increase advice ‘value for money’
On the go: The Financial Conduct Authority has said the pensions dashboards will increase competition in the advice profession and offer consumers better value for money.
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NewsL&G ‘well advanced’ with commercial dashboard development
Legal & General is “well advanced” with the development of a commercial dashboard, building on the work done in the alpha and beta stages of the Pensions Dashboards Programme.
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NewsEmployers and union at loggerheads as USS deadline looms
Employer representatives have again criticised the University and College Union as the deadline for avoiding “unaffordable” contribution rate hikes in the Universities Superannuation Scheme approaches.
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NewsGPs can file late applications to cover tax bills after pressure
On the go: NHS staff have been given the option to make a late application to have their scheme cover annual allowance tax bills after the industry warned that many GPs would not have completed paperwork in time.