All scheme funding articles – Page 24
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NewsCBI requests reforms to ease DB burden on businesses
The Confederation of British Industry has called for a number of reforms to help tackle the problem of pension costs for companies, including access to illiquid assets and approaches to measuring deficits.
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News
TPR and PPF call for muscular regulation
Both the Pensions Regulator and the Pension Protection Fund have called for more wide-ranging, interventionist regulation of defined benefit schemes, evidence published by the Work and Pensions Committee has this week shown.
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FeaturesStagecoach tightens governance reins with scheme merger
Stagecoach Group has merged one of its smaller pension plans with its £1.3bn defined benefit scheme, but the company has maintained a separate section for the smaller fund, keeping liabilities separate while potentially sharing some costs.
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OpinionThe Brexit effect on schemes and stats
It is now three months since the historic Brexit vote and frankly, we are still firmly in the realms of extreme uncertainty, despite each of the two camps apparently becoming ever more certain that they were right.
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OpinionUnpacking the proposed DB bill
In May this year, as chair of the House of Commons Work and Pensions Committee, Frank Field promised an inquiry into defined benefit schemes, “considering radical solutions to one of the great problems of this age”.
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Features
PPF deficit figures presage hard times for funding and dividends
Analysis: Following the Pension Protection Fund’s news of yet another record deficit in defined benefit pensions, many schemes can expect to gear up for challenging funding negotiations, amid growing fears for company dividends.
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Opinion
Data crunch: Small schemes, small problems?
In general, the story of defined benefit pensions in the UK is that smaller schemes started to close to new members and then to future accrual much earlier than larger ones.
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Features
Salvation Army derisks as charities struggle with pension deficits
The Salvation Army has recently reduced risk in its UK defined benefit multi-employer scheme, having made efforts to tackle its pension deficit, but pension obligations are proving increasingly problematic for many charities.
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OpinionBad cases make bad law
Allied Steel and Wire went into receivership in 2002, with some members at risk of only getting a fraction of their pension before the introduction of the Pension Protection Fund.
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NewsNational Milk Records cuts £6.2m with CPI switch
The National Milk Records pension fund has cut £6.2m from its deficit following a switch from the retail price index to the consumer price index as a means of calculating inflation-related adjustments to the fund.
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NewsSelect committees: Philip Green has 'moral duty' to help fix BHS pension deficit
A joint report published by the Work and Pensions Committee and the Business, Innovation and Skills Committee found negligence caused BHS’s pensions deficit, and opened the possibility of increasing the Pensions Regulator’s powers.
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News
CFOs pushed to increase focus on DB schemes
A new survey has found that 59 per cent of chief financial officers said they should become more involved with the management of their companies’ defined benefit schemes, following a steep post-Brexit DB deficit increase.
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NewsDe La Rue extends recovery plan and ups bonds
Banknote and passport printer De La Rue has agreed an extended recovery plan with its pension scheme trustees after its most recent actuarial valuation showed an increased deficit of £252m.
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FeaturesFinal date set for Box Clever trustee and ITV showdown
Trustees of the Box Clever Pension Scheme and ITV were back in court last week, in the latest round of a four-year legal battle to force the broadcasting giant to help make good the fund’s £90m deficit.
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NewsSmaller schemes dive into LDI pools
Smaller schemes are increasingly using liability-driven investment strategies, as the number of pooled mandates powers growth in the market, research this week from consultancy KPMG has shown.
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Opinion
Will PLSA’s DB consultation bolster embattled industry?
From the blog: The Pensions and Lifetime Savings Association has called for evidence to support its Defined Benefit Taskforce, as record-low gilt yields pile yet more pressure on the industry.
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News
Recent pension deficit reductions are unlikely to be sustainable
A survey of FTSE 100 companies’ pension schemes showed that during 2015 the overall pension deficit was reduced by £15bn, mostly by lower salary assumptions and higher discount rates, but experts say the trends responsible for the reduction have now reversed.
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NewsStaveley agrees £73.6m recovery plan
The Staveley Pension Scheme has agreed a new, £73.6m recovery plan with its sponsoring employer after its most recent actuarial valuation found a £100m deficit.
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NewsSwitching BSPS indexation to CPI could set legal precedent
A four-week public consultation on the British Steel Pension Scheme launched by the government this week could pave the way for an indexation switch aimed at significantly reducing Tata Steel’s pension liabilities, which could reverberate across the private sector.
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Features
Will the BHS fallout ring alarm bells across the corporate sector?
FTSE companies come and go, but the failure of retailer British Home Stores a year after being sold for a pound is likely to become a watershed moment in UK pensions.