All scheme funding articles – Page 11
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NewsHundreds of schemes to benefit as PPF updates actuarial assumptions
On the go: Almost 300 schemes could see their deficits transformed into surpluses after the Pension Protection Fund announced its decision to press ahead with changes to actuarial assumptions.
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NewsFirstGroup pension schemes benefit from asset sales
On the go: The pension schemes of multinational transport company FirstGroup stand to benefit from the £3.3bn sale of its First Student and First Transit assets to private equity company EQT Infrastructure.
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NewsAviation scheme spared material detriment in sponsor’s acquisition
On the go: The trustee of the Signature Aviation Income and Protection Fund has been left satisfied after the pension scheme escaped any material detriment arising from its sponsor acquisition by Brown Bidco.
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Govt should boost CDC pensions to rebalance consumer risk
The Institute and Faculty of Actuaries has proposed a number of measures to tackle the so-called ‘great risk transfer’, among which is a call on the government to emphasise the benefits of collective defined contribution schemes as an alternative to traditional DC pension arrangements.
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NewsIndustry calls again for clarity as TPR criminal consultation closes
The pensions industry has once again united in its calls for clarity as a consultation into the scope and application of the Pensions Regulator’s new criminal powers comes to a close.
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NewsMelrose to cut GKN pension deficit with asset sale
On the go: Industrial company Melrose is to further its commitment to cutting the GKN pension deficit by pledging an additional £100m of money raised from the sale of one of its subsidiaries.
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NewsReuters Pension Fund incorporates ESG factors to improve returns
The £2.8bn Reuters Pension Fund is integrating environmental, social and governance factors into its portfolio in order to improve risk-adjusted returns, while achieving a funding level above 100 per cent in 2020.
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NewsBridging pension option smooths Rolls-Royce scheme restructure
The introduction of a bridging pension option in the Rolls-Royce UK Pension Fund has helped smooth the transition for its members following a scheme restructure announced in May 2020.
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Independent schools’ TPS phased withdrawal to start in August
On the go: Independent schools will be allowed to gradually phase out their participation in the Teachers’ Pension Scheme, with the new regulations coming into force in August.
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NewsUUK consults on way out of USS valuation wrangle
Universities UK, the employer group representing 340 Universities Superannuation Scheme employers, has opened a consultation on a range of measures intended to settle the long-running feud over the 2020 USS valuation.
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Over half of DB-listed sponsors at risk claimed pandemic support
More than half of defined benefit-listed sponsors that are currently at high risk of insolvency made a claim for government support in December, and could face uncertainty when this lifeline comes to an end, according to analysis from EY.
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General Motors completes £53m bulk annuity deal
On the go: General Motors’ Vauxhall Associated Companies Pension Fund has completed a £53m bulk annuity purchase with Aviva.
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Alternative funding structures attracting 75% of DB sponsors
On the go: As many as three in four defined benefit scheme sponsors could be using contingent funding as an alternative to the traditional deficit recovery contribution route, according to analysis from LCP.
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Merchant Navy plans to insure all liabilities by 2025
On the go: The £4.1bn Merchant Navy Officers Pension Fund plans to insure all of its remaining liabilities by 2025, as it is set to undergo its next triennial actuarial valuation at the end of the quarter.
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NewsTax ‘super-deduction’ could leave DB schemes short-changed
A “super-deduction” introduced in the Budget could see less money available to clear pension deficits, experts have warned, as businesses look to take advantage of the tax break.
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University employers urge USS to reconsider its valuation outcomes
On the go: Universities UK, which represents 340 Universities Superannuation Scheme employers, has written to the trustees of the scheme urging a rethink of its valuation outcomes.
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NewsTPR’s criminal powers draft policy fails to repeal industry concerns
The Pensions Regulator’s draft guidance on its new criminal powers, published on Thursday, failed to allay fears about the new sanctions, since it will be able to prosecute anyone in connection with an offence and will no longer be bound by limitation periods.
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PPF 7800: Schemes in surplus for first time in two years
On the go: The position of the UK’s 5,318 defined benefit pension schemes moved into surplus for the first time in two years, with improvements in funding positions driven by increased bond yields, according to the PPF 7800 index for February.
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NewsFraud Compensation Fund to begin processing cases within 18 months
The Fraud Compensation Fund could begin processing cases through to settlement within 12-18 months, a meeting of the Transparency Task Force was told on Monday.
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Government proceeds with new general levy structure
On the go: The Department for Work and Pensions has confirmed that a new general levy structure, with four different rates, will come into force in April 2021.