All scheme funding articles
-
NewsCentrica reduces DB scheme contributions as deficit narrows
Centrica will pay around £30m a year less into its defined benefit pension schemes as a result of a significant reduction in the overall deficit.
-
NewsChancellor expected to loosen rules on DB surpluses [updated]
Chancellor Rachel Reeves is expected to unveil new plans to free up defined benefit (DB) pension scheme surpluses in a speech this week.
-
NewsDB pension schemes finish 2024 with £226bn surplus
Defined benefit (DB) pension schemes’ aggregate surplus position declined in December as volatility hit equity and bond markets.
-
FeaturesOutlook 2025: New insurers set to make waves in busy DB market
From an evolving bulk annuity market to debates over the use of pension scheme surpluses, next year looks set to be as busy as ever for the defined benefit sector, writes Alex Janiaud.
-
NewsPPF reports £219bn total surplus across DB pension universe
The funding position of private sector defined benefit pension schemes continues to improve, according to the Pension Protection Fund’s (PPF) latest edition of the Purple Book.
-
NewsDon’t ignore covenant risk, says SPP
Well-funded defined benefit (DB) pension schemes must still retain a focus on covenant risk even though they may be relying less on their sponsors, according to the Society of Pension Professionals (SPP).
-
NewsTPR Annual Funding Statement: Is your scheme’s strategy fit for purpose?
Endgame options, climate risk and sponsor covenant all feature prominently in TPR’s latest annual funding statement.
-
NewsMore funding surplus disputes ahead
BP Pensioner Group has begun a legal process against senior members of BP management and directors of the BP Pension Fund Trustee, following concerns around the value of members' pensions.
-
NewsRethinking the DB endgame
DB schemes could be missing a trick by completing insurance transactions, according to new research
-
OpinionIndustry voice: Govt must back DB schemes to benefit from investment capabilities
Everyone from the chancellor down has agreed that the overriding priority for pensions policy has to be the long term benefit and protection of pension savers. Pension schemes need to think long term.
-
NewsCharities sector sees funding level improvement
The combined reserves of the largest 40 charities in England & Wales that sponsor defined benefit (DB) pension schemes rose to £49bn in 2022 from £40bn in 2021, according to analysis published in a report by Hymans Roberson.
-
NewsDerisking well funded DB schemes may be an opportunity missed
Employers should adopt a more ambitious approach to managing well-funded defined benefit (DB) schemes and see them as an opportunity, according to pensions experts.
-
NewsNew DB funding code could cost employers up to £34bn
The Pensions Regulator estimates that the defined benefit funding code could have a cost for employers of up to £34bn, which has prompted consultancy LCP to call on the government to give more time to sponsors to adjust to the new regime.
-
NewsNew British Steel scheme secures third buy-in
On the go: The British Steel Pension Scheme has signed a £2bn buy-in with Legal & General, bringing the total liabilities insured to around 60 per cent.
-
NewsRegulator dismisses delaying DB funding code due to LDI crisis
The Pensions Regulator has denied a request from MPs to delay the launch of its defined benefit funding code consultation due to the recent market turmoil, justifying that the document already includes a section about systemic risk.
-
NewsBank of England raises interest rates to 3.5%
On the go: The Bank of England has raised interest rates by 0.5 percentage points.
-
NewsDB schemes’ surplus falls by £7.6bn in November
On the go: The aggregate surplus of the 5,131 defined benefit schemes in the Pension Protection Fund 7800 Index fell by £7.6bn in November.
-
NewsHalf of defined benefit schemes now closed to future accrual
Fifty per cent of defined benefit schemes are now closed to future accrual, according to new figures from the Pensions Regulator.
-
NewsMorgan Advanced Materials makes £67mn advance contribution
On the go: Manufacturing company Morgan Advanced Materials has agreed to make an accelerated contribution of £67mn to its UK defined benefit pension schemes, as part of a deal that will see the trustees increase inflation and interest rate hedging levels.
-
NewsPPF: Funding worsened for some schemes due to market turmoil
The Pension Protection Fund is expecting some schemes to have a deterioration in funding due to the forced selling of assets in response to market turmoil, despite the overall improvement in the defined benefit sector, its chief finance officer and chief actuary has said.