All scheme funding articles – Page 16
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News
Threat of action by TPR settles sponsor dispute
On the go: The Pensions Regulator has settled a case in which a pension scheme was placed at risk by an organisational restructure, with the threat of action being sufficient to force an agreement.
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News
DB scheme accounting deficits jump £13bn in a month
On the go: The accounting deficits and liability values of the defined benefit schemes of the UK’s 350 largest listed companies rose by £13bn last month alone, according to research by Mercer.
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Features
New managing partner for Arc Pensions Law
Boutique law firm Arc Pensions Law has a new managing partner, Rosalind Connor, who succeeds Chris Mullen, its co-founder.
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News
TPS employer contributions could reach 30% in 2023
A funding crisis in the pension scheme for teachers could lead to further contribution increases and yet more private schools leaving the scheme, as Covid-19 and the McCloud judgment take their toll.
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PodcastsPodcast: Schemes cannot eliminate chance of cyber breach
Podcast: Pension schemes hold an extraordinary amount of personal data. Though trustees have done much since the passage of the General Data Protection Regulation to improve data security, it is impossible to remove the risk of breaches entirely. So says ITM director Maurice Titley, joined this week by Aon partner Lynda Whitney to discuss cyber security, McCloud, and Covid-19’s impact on recovery plans.
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News
New DB funding code could imperil sponsors and members
Some of the proposals in the Pensions Regulator’s consultation on a new defined benefit funding code could lead to worse outcomes for scheme sponsors, members and the Pension Protection Fund, according to a new report by LCP.
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News
Market volatility leads to attractive returns in low-risk credit
On the go: Pension schemes should consider adopting high-quality, low-duration credit strategies such as asset-backed securities as an alternative to traditional bond allocations when looking to derisk their portfolios, according to a new report from Aon.
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News
TPR’s fast-track proposal 'risks levelling down by employers'
Actuaries have expressed concern that the Pensions Regulator’s proposal of a ‘fast-track’ route for compliance, with its expectations on defined benefit funding, could spur market-leading employers to level down their approach.
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News
Covid-19 could lead to 75% hike in deficit repair contributions
Deficit repair contributions may need to increase by 75 per cent if defined benefit schemes are to meet their recovery plan end dates, according to analysis published by the Pensions Regulator.
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OpinionLords’ open DB protections don't stack up
Editor's blog: Are we to see the decline of defined benefit put on hold? That is the vision of amendments to the pension schemes bill moved at the end of June by the House of Lords.
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News
Lords commit TPR to preserving open DB schemes
The House of Lords has amended the pension schemes bill to ensure that open defined benefit schemes are not forced to derisk their investments in the same way as closed plans, in one of four defeats suffered by the government.
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News
OECD encourages regulators to be flexible in response to pandemic
On the go: Policymakers should allow for regulatory flexibility in their approach to recovery plans to make sure that people saving for retirement stay the course during the Covid-19 crisis, the OECD has recommended.
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News
Seven-year scam poses ‘serious questions’ for TPR
The Pensions Ombudsman has finally brought to a close a seven-year case that left members of three pension schemes looking to recoup losses in excess of £14m. However, questions have been raised about the effectiveness of the Pensions Regulator in this case.
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NewsBoE governor reignites row between superfunds, insurers and regulators
In an intervention which laid bare a deep divide both in the industry and between regulators, Bank of England governor Andrew Bailey has reignited a long-running feud between traditional insurers and advocates of new superfund models, while casting doubt on the Pensions Regulator’s ability to oversee consolidators.
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News
Aviva strikes £150m buy-in with General Healthcare Group
On the go: Insurer Aviva has secured a £150m buy-in contract with the General Healthcare Group & Life Assurance Plan.
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News
Schemes to take a £5bn hit as analysts predict deflation
On the go: Pension schemes already suffering the funding implications of Covid-19 could be facing a further £5bn of pressure, as the prospect of deflation later in the year produces a “ratchet effect”, according to analysis by LCP.
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News
Charities suffer under the strain of DB scheme deficits
On the go: Three-quarters of charities have defined benefit schemes in deficit, adding extra strain to a sector already hit hard by coronavirus, according to a new report by Hymans Robertson.
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News
Suffolk holds firm through equity volatility storm
Suffolk Pension Fund has reported a bounceback in its asset values after taking a £327m hit in the first quarter of the year, as experts said it is still legitimate for immature defined benefit schemes to lean on the equity risk premium.
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OpinionDo asset-backed funding structures need an update?
It has now been more than a decade since Marks and Spencer implemented the first asset-backed funding structure, and some of the industry’s pioneering arrangements are showing their age.
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News
Old British Steel scheme trustees consider buyout
On the go: The trustees of the Old British Steel Pension Scheme are considering a buyout for its 31,000 members, due to a better-than-expected funding position achieved while in the assessment period at the Pension Protection Fund.