Defined benefit – Page 30
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NewsUK roundup: Railway schemes to offer flexible retirement
Plus: QinetiQ buy-in deal with Legal & General; CAB International picks Aon as admin of pension fund
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USS employers back changes to pension scheme
Without changes to the scheme, employers and scheme members face escalating contribution rates
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PensionsEurope conference: PGGM yearns for switch to DC
‘We are in need of a new pension system to avoid investing to a very large extent in very long-dated euro government bonds or swaps to hedge our liabilities’
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UK DB consolidator Clara appoints Kempen as fiduciary manager
Subject to regulatory authorisation, opportunity set seen as ‘substantial’
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News£251m in de-risking deals as AIB converts APP, Wyeth seals buy-in
Two de-risking deals for a combined £251m were announced today, comprising the first conversion of a Legal & General Assured Payment Policy and a buy-in
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NewsTPR calls on DB schemes to look out for funding challenges
Pension funds should retain a focus on the long term – most specifically around planning and risk management
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NewsUK DB schemes end turbulent year in strong position, LCP says
LCP’s report found that UK DB schemes ended the year with an aggregate balance sheet surplus of £10bn
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NewsPension deficits turned into surpluses at the start of pandemic, says WTW
Where deficit contributions were made, the median amount paid in 2020 was estimated at £15m, up 8% on 2019
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NewsUK roundup: DB schemes stronger than pre-COVID levels
Plus: DWS, Tikehau’s new secured income fund; National Trust awards climate change mitigation mandate
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Lay trustee role increasingly difficult to sustain, industry says
The role has changed significantly in recent years due to increased governance requirements
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NewsSchemes risk cutting corners to meet CMA deadline, says Hymans
A rushed process would risk ‘missing out on the best fees’
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Country ReportRisk Management: LDI strategy at a time of pandemic
Wild swings in UK bond yields caused by COVID have triggered a surge in hedging activity
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Country ReportFunding code: Deciphering the new code
With the Pensions Regulator consulting on a new code of practice for defined benefit (DB) scheme funding, trustees are advised to take a long-term view of investment, covenant and liabilities
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NewsFormer pensions minister warns retired workers’ income set to fall dramatically
‘We have been living in a fool’s paradise when it comes to incomes at retirement,’ says Webb
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DB attribution project prompts warning from IFRS IC chair
The IFRS IC voted to confirm its tentative agenda decision concerning the attribution of periods of service under IAS 19
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Dutch pension fund wins court case against Booking.com
The verdict could mean the Amsterdam-headquartered travel company will be forced to join Reiswerk, the pension fund for the travel sector
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UK pension funds seek judicial review of inflation measure reform
BT, Ford and Marks & Spencer pension schemes believe ’far-reaching implications not fully considered’
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USS rejects employer request for review of 2020 valuation approach
‘No justifiable basis for review until alternative proposals made or new information materialises’
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FeaturesDB accounting: Lump-sum benefits
Service-defined lump-sum payments are causing accounting attribution problems
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Nearly half of UK DB schemes closed to future accrual
In 2012 28% of schemes were closed to future accrual
