Defined benefit – Page 33
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AnalysisUK DB: Pushback over UK proposals for ‘one size fits all’ funding code
Not long before the UK went into its COVID-19 lockdown this March, The Pensions Regulator (TPR) launched the first of a two-stage consultation on a revised defined benefit (DB) funding code.
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FeaturesAccounting Matters - UK DB pension schemes: One step forward, two steps back
As sometimes happens with Easter, one of the surveys of the UK pensions accounting landscape from consultants Lane Clark & Peacock (LCP) was later than usual. And, like an Easter egg, this keenly awaited overview of the net funding position of FTSE 100 defined benefit (DB) pension schemes comes in two halves.
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News
Dutch minister to prevent ‘unnecessary’ pension cuts
The minimum required funding ratio for pension funds that was reduced from 100% to 90% for 2019/20 has now been extend to 2021
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NewsLGIM launches ‘one stop solution’ for smaller DB schemes
‘NavGuide’ offers complete investment service from portfolio design through to buyout
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Hymans calls on trustees to consider commercial consolidators
DB scheme members of weaker employers have 50% chance of benefits cuts
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NewsUK pension schemes ‘over-dependent’ on equity performance, says WTW
‘Simply putting all your eggs in one basket and hoping for unlikely events will not be enough to solve the funding gap’
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NewsMercer starts master trust for UK DB schemes
Independent Trustee Services (ITS) and PTL have been appointed as additional professional trustees
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USS warns of higher costs to employers as COVID-19 hits hard
The UK’s largest scheme has placed high demands on universities in order to keep potential future costs down
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NewsUK roundup: LCP, Royal London call for more support in DB transfer advice
Plus: Strathclyde scheme tenders custodian contract; UK confirms pension freedom age rise
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Aon: latest valuations show 67% UK schemes use long-term funding target
The LTO principle is key to the revised TPR code of practice
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Koolmees: ‘Balanced transition’ most difficult challenge of new pensions contract
If pension schemes’ funding ratios are still below 100% at the moment of transition, they will have no choice but to cut pension rights
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Opinion PiecesA long sunset on a fragile model
The ECB’s move in September 2019 to lower rates and restart corporate bond purchases was a clear red warning signal to defined benefit pension funds and other liability-driven investors.
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NewsSurvey: FTSE 350 discount rates narrow
‘Market volatility in the first half of 2020 led to falls in discount rates’
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UK roundup: Pension investors join internships for black youths initiative
Plus: One more for DB consolidation; Warnings about re-opened property fund pension treatment uncertainty
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Opinion PiecesViewpoint: UK superfunds – Super fast, or dead in the water?
Will the superfund ship lawfully leave port any time soon? Following the UK pension regulator’s publication of its interim regime for superfunds in June 2020, there is much talk about scheme transfers to superfund being imminent. Clive Weber, pensions partner, and Paul Ashcroft, solicitor, Wedlake Bell LLP, explain why the ...
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News
Mercer survey reveals FTSE 350 DB accounting deficits skyrocket by £13bn
Total DB liabilities reached £970bn at the end of July
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TPR: Difficult COVID-19 decisions may call for ‘conflict management advice’
CEO of UK pensions regulator sets out how DB trustees can hold ‘first line of defence’ for members
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NewsAon: FTSE 350 DB scheme funding gap widens
The top 10% of DB schemes were funded to at least 115% last year, while the bottom 10% were less than 80% funded
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NewsAsset management roundup: LGIM launches secure income range for DB plans
Plus: Franklin Templeton-Legg Mason deal done; AXA IM sees potential for hybrid AGMs
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News
Pension scheme of collapsed rural retailer agrees £100m bulk annuity
PPF+ deal includes flexibility for top-ups when further assets are recouped during insolvency proceedings
