Defined benefit – Page 22
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NewsDutch fiduciary transfers dry up in 2023
The reason for this is believed to be the upcoming transition from a DB system to DC arrangements
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NewsNumber of trustees planning to step down decreases, survey shows
Charles Stanley survey shows number of trustees planning to step down within three years decreased to 73% from 80% the previous year
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NewsUK pensions groups call for pension fund clearing exemption to be retained
The UK’s HM Treasury consultation on pension funds’ exemption from the clearing obligation closed on 5 January
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NewsIrish DB schemes’ average funding level above 100%
This marks the first time in 15 years of the LCP’s accounting survey that the average funding level has been above 100%
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NewsKeva positive on idea of investigating stabilisation mechanism
”Our defined benefit system has not been very ‘defined’ in the longer term,” says head of Keva’s EU pensions team
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NewsPLSA to further develop recommendations aimed at driving UK growth
The association’s top strategic policy priority for 2024 will be to establish what role pension funds can play in supporting UK growth
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NewsTwo new players predicted to enter UK buy-in market in 2024
LCP is currently in discussions with six potential providers weighing up their options for entering the market
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Opinion PiecesIBM revives defined benefit pensions in the US
This January 2024 marks an important turning point in the US retirement industry. Technology giant IBM, which has always been seen as a bellwether of American business practices, is keeping its 401(k) plan, but will stop matching contributions of up to 6%.
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NewsDutch pensions minister warns against consequences of referendums
New political party NSC, which is currently in negotiations to form a government, wants all pension funds to organise a referendum on the transition from DB to DC
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NewsPharmacists to complain about Boots and L&G buy-in deal
Pharmacists union members plan to complain about the removal of an unreduced pension option following Boots and L&G transaction
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NewsCorporate strategy and pension schemes’ ESG agendas misaligned, survey finds
Only 37% of CFOs and senior executives reported their corporate strategy and schemes’ ESG agendas are aligned
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NewsUSS to reduce contribution level to 14.5% in January
While reporting a healthy surplus, lowering contribution rates and improving benefits is a ‘positive backdrop for USS’, says CEO Carol Young
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NewsFRC updates actuarial guidance in light of increased buyout activity, superfunds
FRC is also considering feedback received in relation to TAS 310
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NewsRailpen framework to help investors assess their capacity to invest in illiquids
The framework focuses on the illiquidity aspect of private markets, rather than the potential for additional return or diversification
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NewsDe-risking gains in importance for pension schemes approaching endgame
56% of survey respondents identify de-risking as investment priority
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NewsThales Pension Scheme secures £2.7bn buy-in with Rothesay
The transaction secures benefits of over 16,000 members – 10,512 pensioners and dependants as well as 5,915 deferred members
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NewsTrustees expect more from new bulk annuity market entrants
Trustees now assess insurers on financial strength, ESG factors, administration capacity and quality, buyout capabilities, and brand awareness
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NewsTrustees considering capital backed journey plan urged to engage with regulator
The Pensions Regulator set out expectations for trustees considering capital backed journey plan
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NewsBoots pension scheme completes largest single transaction with L&G
The deal secures benefits of all 53,000 retirees and deferred members of the scheme
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NewsCo-op pension fund insures remaining £4bn of liabilities
The transaction secures benefits for almost 50,000 members
