All scheme funding articles – Page 25
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News
Cash flow is important but not pressing, experts say
For the first time, the Pensions Regulator explicitly included cash flow considerations in its annual funding statement, published last week. Industry insiders welcomed the move, but said the statement has raised other equally important concerns.
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FeaturesSainsbury's marks down deficit by £262m
Sainsbury’s Pension Scheme has reduced its post-tax deficit by £262m in the past year, following exceptional employer contributions and an increase in the discount rate.
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OpinionLiabilities for sale
Editorial: I admit, I almost never go into the British Homes Stores shop on the high street of where I live. Neither do many other people, it seems.
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NewsCarr’s Group ploughs into surplus
Carr’s Group has reeled in its scheme deficit after years of steep cash contributions and restructured the scheme’s matching portfolio to shore up funding on the road to buyout.
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FeaturesITV absorbs Wireless Group DB scheme
Broadcasting company Wireless Group has signed over its defined benefit pension obligations to broadcaster ITV, under the terms of sale of its television entities to the media giant, showing that defined benefit schemes do not have to be left behind in mergers and acquisitions.
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Features
Weir Group cuts deficit contributions with 15-year funding vehicle
Weir Group established a Scottish Limited Partnership with the trustee of its main defined benefit scheme last year, allowing the group to reduce its deficit recovery payments while adding to the security of members’ benefits.
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News
Aberdeen transport fund swaps derisking provider in self-sufficiency push
The Aberdeen Council Transport Fund is rushing to replace a derisking solution as it seeks to update its investment strategy and target self-sufficiency.
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NewsShipbuilding scheme docks £220m into LDI
The Shipbuilding Industries Pension Scheme has committed £220m to a liability-driven investment mandate run by Legal & General Investment Management, as it seeks to derisk and hedge against interest rate rises.
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News
Johnston Press longevity study cuts deficit by £53m
Regional publishing group Johnston Press has cut its IAS 19 deficit by £63m in the past year, with close to 85 per cent arising from changes to the mortality assumptions.
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OpinionIORP II: What could still change?
Published in March 2014, the European Commission’s proposal for a review of the Institutions for Occupational Retirement Provisions has three main objectives: improving governance and transparency of these funds in Europe; promoting cross-border activity; and helping long-term investment.
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NewsM&S scheme in ample surplus as hedge pays off
The Marks and Spencer Pension Scheme has swung into surplus, thanks to a combination of outperformance of return-seeking assets and full hedging of interest rate risk, the company said last week.
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NewsRenishaw recognises true liability as IFRIC 14 bites
Gloucestershire-based engineering company Renishaw’s defined benefit liabilities jumped £15.6m above the IAS 19 accounting deficit at the end of last year, as experts highlighted the impact the accounting measure IFRIC 14 has on scheme valuations.
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News
Cross-border plans could be greater lure for employers under IORP
Analysis: The burden on cross-border pension schemes to be fully funded at all times could be lifted as the Institutions for Occupational Retirement Provision II directive moves nearer its final version.
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News
April changes offer 'excuse' for DB schemes to shut up shop
Analysis: The death knell for defined benefit is edging closer, consultants say, as the end of contracting-out, low yields and impending government revisions to pension tax could see all FTSE 250 companies completely close their DB schemes by the end of this year.
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OpinionFall in accounting deficits no reason to cheer
From the blog: IAS accounting deficits belonging to defined benefit pension schemes have improved, but schemes should not get their hopes up about funding positions.
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NewsSiemens issues resolution to prevent trapped surplus
Siemens, one of the world's largest electrical companies, is allowing its defined benefit scheme to make payments to the sponsoring employer, as schemes scramble to maintain their ability to prevent trapped surplus.
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NewsA lot to get to grips with: the legal and regulatory outlook for 2016
Legal and regulatory change was abundant last year and 2016 looks like it will continue in the same vein, as both the UK and Europe are churning out legislation and rules affecting occupational pension schemes.
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News
Regulator aims to 'eradicate surprises' with risk management guide
The Pensions Regulator has issued a practical guide on integrated risk management to help trustees assess and respond to covenant, investment and funding risks, but experts have said schemes will need additional help.
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News
DB funding pressure rises but scheme closures plateau
Data Analysis: The aggregate funding level of UK defined benefit schemes has deteriorated again despite asset allocation trends moving towards lower-risk investments, but the number of schemes open to new members has stayed level.
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OpinionPMI: Drawdown needs minimum income floor to avoid depleted pots
Talking Head: One of the first acts of the coalition government in 2010 was to reform the pension drawdown rules.