All scheme funding articles – Page 5
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NewsITV hit with £133mn warning notice by TPR
The Pensions Regulator has slapped a £133mn warning notice on broadcaster ITV after it failed to provide adequate support to the Box Clever pension scheme by the regulator’s deadline.
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NewsLoughborough Uni and UCU warn USS against reducing contributions
On the go: Positive changes resulting from the next valuation of the Universities Superannuation Scheme should be used to improve member benefits, Loughborough University and the University and College Union have argued.
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NewsNo AE reform, but Queen’s Speech measures spark protests
There was no mention of automatic enrolment reform in the Queen’s Speech, but bills around local boycotts, online safety and a revamped audit and reporting framework will all impact the industry, experts have said.
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NewsProfit warnings from companies with DB scheme surge 46%
Profit warnings from UK public companies with a defined benefit pension scheme increased 46 per cent between the starts of 2021 and 2022, as consumer and industrial sectors bear the pain of rising costs and supply chain disruption.
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NewsMorrisons promises to protect McColl’s pensions in takeover
On the go: Supermarket chain Morrisons has prevailed in the bidding war for troubled retailer McColl’s, beating a rival bid from EG Group. The acquisition will reportedly uphold all promises made to McColl’s pension schemes.
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NewsMcCloud sees more public sector schemes breach cost-cap ceiling
Three more public sector schemes have breached the cost-control mechanism as a result of the McCloud remedy, the Government Actuary’s Department has confirmed.
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NewsElectricity pensioners launch campaign amid inflation fears
The Association of Electricity Supply Pensioners has launched a campaign to protect the benefits of more than 100,000 members of the Electricity Supply Pension Scheme, amid fears that pension increases that do not match inflation could amount to significant losses.
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NewsEmployer contributions may lag NI LGPS growth, GAD finds
On the go: Tax-backed employers may struggle to maintain their contributions in line with the Northern Ireland Local Government Pension Scheme’s growth, the Government Actuary’s Department has found.
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NewsCapital build-up sees Lloyds make extra £500mn deficit contribution
On the go: Lloyds Banking Group has made £1.3bn in deficit contributions to its three main defined benefit pension schemes.
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NewsTPR funding statement flags uncertainty impact for valuations
High levels of uncertainty surrounding inflation, interest rates, mortality, energy prices and economic growth will put additional pressure on trustees completing their tranche 17 valuations this year, according to the Pensions Regulator’s annual funding statement.
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NewsDB scheme surplus rises £43bn in March
On the go: The aggregate surplus of the 5,215 defined benefit schemes in the Pension Protection Fund 7800 Index increased by £42.8bn in March.
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NewsUCU calls for an end to USS cuts in light of improved finances
On the go: The University and College Union has called on employers to reverse plans for what it called “brutal cuts” to staff pensions, in light of a “drastic improvement” in Universities Superannuation Scheme finances.
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NewsNatWest pumps £427mn into pensions as govt reduces its stake
NatWest Group has paid £427mn into its pension scheme as a result of an off-market purchase of ordinary shares from HM Treasury, which saw the government’s stake in the banking group drop beneath 50 per cent for the first time since the 2008 financial crash.
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NewsGovt allocates £425mn for teachers’ remedy back payments
On the go: The government has allocated £425mn for back payments to members of the Teachers’ Pension Scheme, and others within scope of the Goodwin ruling from 2020.
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NewsCommuters face travel chaos as TfL workers strike over pension cuts
Commuters on the London Underground face two days of travel chaos as Transport for London staff strike over planned pension cuts.
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OpinionUnprecedented DB scheme funding levels: Is this as good as it gets?
For the first time in nearly two decades, aggregate funding ratios for UK defined benefit schemes are at historic highs.
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NewsGovt dismisses USS guarantee as employers discuss new proposals
The Department for Education has dismissed the significance of a guarantee of Universities Superannuation Scheme benefits that early reports suggested could constitute a full government underwrite of the scheme, while employers have announced a short consultation on union proposals to resolve the 2020 valuation dispute.
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NewsTwo-thirds of trustees are looking beyond buyouts
On the go: Two-thirds of pension trustees are considering other options besides buyouts as part of their schemes’ long-term funding goals, new research has revealed.
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NewsLecturers strike again over USS benefit cuts
On the go: Staff at 44 institutions are to walk out once again over planned benefit cuts to the Universities Superannuation Scheme.
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NewsDB schemes’ surplus rises by £17bn in January
On the go: The aggregate surplus of the 5,215 defined benefit schemes in the Pension Protection Fund 7800 Index increased by £17.1bn in January.