More defined benefit news – Page 54
-
NewsIndustry concerns remain over anti-scam transfer restrictions
Almost half of schemes have more work to do to comply with new anti-scams transfer guidance, while nearly 10 per cent have “lots of work” to do, an XPS Pensions Group webinar has heard.
-
NewsPLSA calls for ‘major review’ of Fraud Compensation Fund
On the go: The Pensions and Lifetime Savings Association has called for a “major review” of the Fraud Compensation Fund, branding the current arrangement “not fit for purpose”.
-
NewsGovt consults on NHS scheme McCloud remedy
On the go: The Department of Health and Social Care has published a consultation into changes to be made to the NHS Pension Schemes to accommodate the McCloud remedy.
-
NewsOpperman urges asset managers to increase stewardship practices
The minister for pensions and financial inclusion has written to 44 asset managers urging them to comply with recent stewardship recommendations, which would allow schemes to have a more active voice in these matters.
-
NewsPub company schemes hire new fiduciary manager
On the go: The £86m Laurel Pub Pension Scheme and its sister, the £14m Yates Group Pension Scheme, have appointed Kempen Capital Management as their fiduciary manager.
-
NewsAgeing a bigger problem for pensions than Covid-19
The impacts of the Covid-19 pandemic on pensions could be relatively short-lived should the global economy continue to recover, but an ageing population presents long-term challenges with no simple solutions, according to a new report from the OECD.
-
NewsTPR opens investigations into 9 DB schemes over funding concerns
On the go: The Pensions Regulator has opened investigations into nine defined benefit schemes, following an engagement exercise designed to assess the risk to savers posed by employer covenants impacted by Covid-19.
-
NewsFCA to monitor transfers after Old British Steel scheme exits PPF
On the go: The Financial Conduct Authority will be monitoring pension transfer requests from the Old British Steel Pension Scheme, as the scheme has exited its assessment period at the Pension Protection Fund.
-
NewsPPF Purple Book shows improved DB funding but risks remain
Data crunch: Scheme deficits have recovered by £100bn since the low point of the Covid-19 pandemic, while the Pension Protection Fund liabilities with schemes in assessment are down by more than £4bn, according to the PPF’s Purple Book 2021.
-
NewsPASA launches dashboards data-matching guidance
On the go: The Pensions Administration and Standards Association has published guidance detailing how schemes must compare ‘find requests’ from pensions dashboard users against member records, with data quality determining the choice of approach taken.
-
NewsFifth of businesses are interested in CDC schemes
On the go: More than a fifth of businesses are interested in setting up a collective defined contribution scheme for their employees, according to new research from the Association of Consulting Actuaries.
-
NewsUSS increases Thames Water stake
On the go: The £82.2bn Universities Superannuation Scheme has made an additional investment in utility company Thames Water, increasing its holdings in the business to almost 20 per cent.
-
NewsLGPS urged to divest from ‘Israeli settlement economy’
Canadian Professor Michael Lynk, who works with the Office of the High Commissioner for Human Rights, has requested that the Local Government Pension Scheme funds divest from any holding that may be linked to contested Israeli settlements.
-
NewsBT targets cash flow-matched strategy by 2034 with IRM
The BT Pension Scheme is using integrated risk management to assess its appropriate level of risk and pace its transition from equities to a fully cash flow-matched strategy by 2034.
-
NewsPPF updates guidance in light of Bauer, Hampshire judgements
On the go: The Pension Protection Fund has issued updated guidance accounting for the judgements in the Hampshire and Bauer cases and the disapplication of the PPF compensation cap, confirming that no further allowance needs to be made for their impacts.
-
NewsGovt to consult again on McCloud implementation in 2022
The Cabinet Office, Home Office, Department for Education and Ministry of Defence have each opened consultations into the first phase of the McCloud remedy, covering regulations that will see all legacy schemes close to future accrual from March 2022. However, new consultations on phase two of the remedy will be launched next year.
-
NewsPositive outlook for bulk annuity transactions in 2022
On the go: Insurers’ appetite for bulk annuities could be heightened in 2022 after a relatively slow 2021, according to research from Barnett Waddingham.
-
NewsClara Pensions to begin accepting transfers after TPR clearance
The Pensions Regulator has cleared consolidator Clara Pensions to begin accepting transfers, opening up a new endgame option for defined benefit schemes.
-
NewsUnion slammed as ‘at odds with reality’ as USS strike action begins
On the go: Employers have once again hit out at the University and College Union over strike action set to commence on Wednesday.
-
NewsEmployers’ wish list for TPR’s DB funding code
On the go: Employers have expressed support for some elements they would like to see outlined in the second consultation on a new defined benefit funding code, which is expected in the next few months.