All technical provisions articles
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NewsTaylor Wimpey suspends escrow payments
On the go: Home construction company Taylor Wimpey has suspended escrow payments to its defined benefit pension scheme due to its strong funding position.
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NewsPandemic damage mitigated as quarter of schemes are in surplus
More than a quarter (27 per cent) of defined benefit and hybrid schemes with tranche 15 valuations were in surplus on a technical provisions basis, despite the market shock of the Covid-19 pandemic, according to the Pensions Regulator’s latest scheme funding analysis.
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NewsPodcast: Ball in TPR’s court as DB funding code consultation launches
Podcast: The consultation into the defined benefit funding code by the Department for Work and Pensions hints at a prescriptive regime to come, but the Pensions Regulator must improve on its “rubbish” code of practice draft, according to Zedra client director Richard Butcher. He and Hymans Robertson partner Laura McLaren discuss the next steps, stronger nudge concerns, and assess the health of pensions post-Maxwell.
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NewsUSS annual report shows significant improvement but angers unions
The significant improvement in the Universities Superannuation Scheme’s funding position and resilience has angered the University and College Union, which argued that benefit cuts implemented in April were “totally unnecessary” in light of the scheme’s strength.
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NewsPandemic impacts DB schemes’ deficit recovery periods
On the go: The deficit recovery periods of defined benefit schemes with valuations in 2020-21 was impacted by the pandemic-led crisis, with these schemes having a smaller reduction than expected, according to new analysis.
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NewsUSS employers pledge greater covenant support
Universities UK, the group representing 340 Universities Superannuation Scheme employers, has pledged additional covenant support to the pension scheme, in a move it said will spare its members the crippling contribution rate rises announced following the scheme’s 2020 valuation.