IPE's United Kingdom Coverage – Page 260
-
News
Pension funds weakened corporate recovery – Watson Wyatt
[16:20 CET 07-12] UK - Deficits in final salary pension schemes are making it much harder for UK companies to restructure and prepare themselves for an economic recovery, according to research by Watson Wyatt and the UK employers organisation the CBI.
-
News
UK roundup: Warwick University, Bangor University, Lloyds TSB
[15:45 CET 07-12] UK – Warwick University, Bangor University and Lloyds Banking Group are the latest organisations to announce changes to their final salary pension schemes, in a bid to make them more sustainable.
-
News
First Quench heads for PPF assessment
[15:30 CET 07-12] UK – The First Quench Pension Scheme is in the process of entering the Pension Protection Fund (PPF) assessment period, following the collapse of the sponsoring employer First Quench Retailing, formerly known as Threshers.
-
News
Ofcom review questions BT pension holidays
[16:40 CET 01-12] UK – Ofcom, the UK regulator of the communications industry, has questioned the role of pension contribution holidays taken by BT in the 1990s, as part of a consultation to assess whether other telecoms firms should now help plug the BT Pension Scheme deficit.
-
News
UK firm uses project assets to cut pension deficit
[16:50 CET 27-11] UK – Interserve, a UK services, maintenance and building group, has transferred its stake in a portfolio of 13 Private Finance Initiatives (PFI) to its £400m (€441m) pension scheme to help reduce its funding deficit.
-
News
UK pension funds demand more long-dated bond issuance
[16:30 CET 27-11] UK - Four-fifths of UK pension funds want to see the government issue more long-dated and index-linked gilts as a way of guaranteeing returns. This follows a year where the number of defined benefit (DB) schemes remaining open to new members fell to an all-time low.
-
News
UK roundup - Essex, Strathclyde, Equitable Life and Telent
[16:00 CET 25-11] UK – Essex County Council is re-tendering the contract for investment consultants to its pension fund, while Strathclyde is tendering three property mandates.
-
News
ASB maintains support for risk free discount rate
[16:45 CET 20-11] UK – The Accounting Standards Board (ASB) has reiterated its view that pension fund accounting should use ‘risk free’ discount rates, as evidence suggests the UK AA corporate bond rate reduced the level of reported liabilities making schemes appear stronger than they were.
-
NewsC&W to split UK scheme as part of demerger
[14:00 CET 18-11] UK – Cable & Wireless has confirmed its UK defined benefit (DB) pension scheme will be split in half as part of the demerger of its worldwide arm.
-
NewsUK telecoms firms could be forced to plug BT pension
[14:00 CET 13-11] UK – UK-based telecoms companies could in future be required to indirectly contribute to the BT Group's defined benefit pension fund, as Ofcom, the communications regulator, is reviewing the pricing level of charges for BT's wholesale services to other communication companies.
-
News
UK DB funding roundup: Inflation worries hit deficits
[15:00 CET 12-11] UK – The aggregate funding position of almost 7,400 defined benefit (DB) pension schemes improved by more than £50bn to a deficit of £97.6bn (€108.1bn) after updated valuation assumptions reduced liabilities by 7%, the Pension Protection Fund (PPF) has revealed.
-
News
UK regulator warns of recovery plan reliance on markets
[16:30 CET 11-11] UK – Despite the recent economic conditions, 40% of defined benefit (DB) and hybrid recovery plans with a scheme valuation date between September 2007 and 2008 managed to avoid the Pensions Regulator's (TPR) funding triggers.
-
News
PPF to revise UK insolvency risk assessment
[16:40 CET 10-11] UK – The Pension Protection Fund (PPF) has proposed changes to the assessment of insolvency risk for the 2011/2012 levy, including the exclusion of registered charges caused by contingent assets when calculating failure scores.
-
News
PIMCO put on watch as PPF's LDI strategy drives return
[17:05 CET 06-11] UK – The UK Pension Protection Fund (PPF) reported a return of 13.4% in the year to March 2009, although this was primarily driven by the success of its swap portfolio overlay.
-
News
London transport authority seeks legal review of PPF levy
[16:00 CET 04-11] UK – Transport for London (TfL) is seeking a judicial review against the Pension Protection Fund (PPF) over an "unreasonable" levy of £9m (€10m) relating to the pension funds of the failed infrastructure provider Metronet.
-
News
UK roundup: Tyne & Wear review, AA Pension Scheme, Staffs
[15:00 CET 26-10] UK – The £3.8bn (€4.1bn) Tyne and Wear Pension Fund has revealed it expects to tender a number of investment mandates in the next two months. The AA pension fund has appointed Hewitt for consultancy services and Staffordshire is seeking an investment consultant.
-
News
LPFA calls for reforms after 19% loss for LGPS
[16:20 CEST 20-10] UK – The London Pensions Fund Authority (LPFA) has warned an increased retirement age and a move to career average earnings must seriously be considered as a way of making public sector pensions more sustainable.
-
News
Energy regulator to encourage longer UK pension funding periods
[16:45 CEST 19-10] UK – Ofgem, the regulator of UK electricity and gas companies, has presented fresh proposals which could see energy firms incentivised for lowering pension costs rather than place the charge on consumers’ bills.
-
News
Netherlands tops Mercer poll of pension regimes
[16:15 CEST 15-10] GLOBAL - The Netherlands has come out top in a new global index rating pension systems which assesses the adequacy, sustainability and integrity of regimes, closely followed by Australia and then Sweden.
-
News
Six UK DC schemes hit pension quality mark
[13:20 CEST 15-10] UK - Six more UK defined contribution (DC) schemes have been awarded the new Pension Quality Mark by the National Association of Pension Funds (NAPF).
