All scheme mergers articles
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NewsArcadia secures scheme merger ahead of wind-up
A High Court ruling has approved the merger of collapsed retailer Arcadia’s two pension schemes, citing a “moral obligation” to put them on an equal footing.
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OpinionBreaking up is hard to do: Managing master trust moves
With the Value for Money regime on the horizon, Sackers senior counsel Emma Martin explores how trustees and employers can navigate changing master trust provider.
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NewsReeves to set out vision for DC ‘megafunds’
The government wants to hasten the consolidation of defined contribution (DC) schemes to realise economies of scale, increase domestic investment and improve governance standards.
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NewsEast Lothian Council rejects LGPS funds’ merger oversight motion
On the go: The East Lothian Council has voted down a motion that sought to expand oversight of a planned merger between the £8.6bn Lothian Pension Fund and the £3.2bn Falkirk Council Pension Fund.
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NewsCouncillor appeals for broader LGPS fund post-merger oversight
On the go: Scottish Greens councillor Shona McIntosh has tabled a motion for an upcoming East Lothian Council meeting, appealing for broader and more democratic oversight over the successor to the £8.6bn Lothian Pension Fund.
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NewsLothian and Falkirk funds explore merger
On the go: The circa £8.6bn Lothian Pension Fund and the circa £3.2bn Falkirk Council Pension Fund are exploring the possibility of a merger.
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NewsPPF Purple Book shows improved DB funding but risks remain
Data crunch: Scheme deficits have recovered by £100bn since the low point of the Covid-19 pandemic, while the Pension Protection Fund liabilities with schemes in assessment are down by more than £4bn, according to the PPF’s Purple Book 2021.
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NewsInsurers called to protect trustees against GMP claims
The lack of statutory protection afforded to trustees means the insurance industry will have to shield these professionals against claims related to guaranteed minimum pension equalisation in cases where benefits are secured with annuity providers, legal experts have warned, while uncertainty about trustees’ obligations remains.
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News
Premier Foods sets up tasty scheme merger
Premier Foods, maker of Mr Kipling cakes, has reached a groundbreaking agreement to merge its RHM, Premier Foods and Premier Grocery Products pension schemes, a move that the company estimates could save it as much as £145m in contributions.
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News
Northumberland and Tyne and Wear schemes plan merger
The government is planning to merge the Northumberland County Council Pension Fund into the Tyne and Wear scheme, in a move that would generate savings of up to 12 per cent a year.
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News
Proposed merger to swell UK pension fund behemoth by almost £500m
On the go: Plans for the UK’s second-largest local authority pension fund to swallow a local transport workers pension fund were announced on Tuesday, in a move aiming to protect member savings.
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FeaturesUS industrial giant completes sectionalised merger of UK schemes
US conglomerate Honeywell has gone ahead with proposals to merge three of its UK defined benefit schemes on a sectionalised basis, in a bid to lower costs and streamline governance.
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FeaturesTRW Pension Plan merges with ZF schemes
Automotive manufacturer TRW has merged its defined benefit scheme with those of its German parent company. While consolidation of this kind can lead to cost savings and better governance, experts say there are limited administration benefits to scheme mergers, unless trustees are prepared to invest.
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News
Lookers merges defined benefit schemes
UK motor resale company Lookers has amalgamated two of its defined benefit pension schemes, as experts highlight the improved efficiency and cost savings associated with mergers.
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FeaturesLadbrokes Coral Group shares its trustee board
High street bookmaker Ladbrokes Coral Group has appointed a single trustee board for its pension plans following a company merger, a move experts say can improve efficiency and consistency.
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Features
How to make sure a scheme merger runs smoothly
Analysis: A desire to cut costs and harmonise pension provision often drives companies with multiple defined benefit pension funds to consolidate their schemes, but experts say there are a number of factors trustees and employers should bear in mind to ensure a smooth merger.
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FeaturesHP sets up trustee company in simplification push
The Hewlett Packard Limited Retirement Benefits Plan has changed the structure of its trustee board to a trustee company, in a move to simplify processes while increasing scrutiny of trustee actions.
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OpinionThe art of effecting change
Editorial: The Budget announcement brought changes welcomed and less welcomed by the industry, such as the tax on qualifying recognised overseas scheme transfers and the money purchase annual allowance, but it was the focus on the self-employed that might give a flavour of what is to come.
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NewsPLSA ‘superfunds’ solution gets lukewarm reception
The Pensions and Lifetime Savings Association is calling on the government to facilitate consolidation while creating a regulatory framework for the creation of superfunds, but the proposal has seen a muted response.
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OpinionBringing pension schemes together
Editorial: The efforts made to outdo each other with yet another game, more champagne or an enormous plastic animal at the stand have reached a new level at the Pensions and Lifetime Savings Association’s Annual Conference this year.