IPE's United Kingdom Coverage – Page 261
-
News
ITV plans to use subsidiary as contingent asset
[16:45 CEST 13-10] UK – ITV, the UK commercial television station, has revealed it is in discussions with the trustees of its £2.15bn (€2.29bn) defined benefit (DB) scheme to use the assets of its wholly owned subsidiary SDN Limited to help plug the growing pension deficit.
-
News
UK DB funding roundup: deficits reduced in September
[16:15 CEST 13-10] UK – Increases in asset values and higher gilt yields improved the aggregate funding position of UK defined benefit (DB) schemes by almost £25bn (€26.7bn) to leave deficits at £148.9bn at the end of September, according to the Pension Protection Fund (PPF).
-
News
Tesco continues property deals with pension funds
[17:05 CEST 06-10] UK – Tesco has formed a fourth joint venture with a UK pension fund to sell and leaseback property assets in an effort to release value from its property portfolio.
-
News
LAs leave 25% of class action settlements unclaimed
[17:05 CEST 05-10] UK – Local authority pension schemes could be losing up to £125m (€136m) by not participating in class actions, a report from the Goal Group has claimed.
-
News
IBM modifies pension changes after UK member backlash
[16:55 CEST 01-10] UK – Unite, the trade union, has claimed IBM will delay changes to their UK final salary pension scheme following a "backlash from thousands of employees", though argued the revisions do not go far enough.
-
News
North Yorks pension pulls out of pressured GTAA
[16:00 CEST 01-10] UK – The £1.04bn (€1.14bn) North Yorkshire Pension Fund has formally withdrawn its investment in a Global Tactical Asset Allocation (GTAA) strategy run by UBS, and from the asset class as a whole.
-
News
PPF cap reduction 'punishing' 90% of UK schemes
[15:30 CEST 01-10] UK – Proposals by the Pension Protection Fund (PPF) to halve the cap on the risk-based levy could be seen as a punishment by the other 90% of schemes which are not affected by the change, consultants have warned.
-
News
MNOPF completes £500m buy-in with Lucida
[16:55 CEST 29-09] UK – The Merchant Navy Officers Pension Fund has completed a £500m (€548m) buy-in with insurer Lucida, covering the pension liabilities of 22,000 retired members.
-
News
Pension fund takes share of Jessops in debt swap deal
[16:45 CEST 29-09] UK – Jessops, the chain of UK photographic stores, has been saved from administration by a deal which will see trustees of its defined benefit pension plan as well as an unnamed employee benefits trust take the majority stake in the company.
-
News
Employers not budgeting for 2012 auto-enrolment
[17:10 CEST 28-09] UK – Employers claim payroll costs could increase by 3-4% if they auto-enrol staff into existing workplace pension schemes, yet just 32% of those planning to take this step from 2012 have so far budgeted for the change, the Association of Consulting Actuaries (ACA) has revealed.
-
News
UK pension investment rose £3.4bn in Q2
[17:05 CEST 28-09] UK – Self-administered pension funds increased net investment by £3.4bn (€3.7bn) in the second quarter of this year, according to latest figures from the Office of National Statistics (ONS).
-
News
UK: WPP default fund charges 'should have stakeholder cap'
[17:00 CEST 24-09] UK - The default fund in workplace personal pensions (WPP) will need to carry charges below the current stakeholder pension level if they are to qualify for auto-enrolment, according to draft guidance published today by the UK government.
-
News
LGA explores LGPS funding for schools
[16:30 CEST 24-09] UK – The executive of the Local Government Association (LGA) has authorised further investigation into the potential for establishing a collective investment fund for local authority pension schemes, so they may band together to invest in Private Finance Initiatives (PFI).
-
News
Pensions can be delivered at 12% cost - think-tank
[17:00 CEST 22-09] UK – The pensions threshold within which personal accounts holders can save should be raised beyond the current £3,600 proposed by the government, but doing so might be beneficial to policyholders as evidence suggests pensions can be delivered for a total charge of 0.5%, according to a study conducted a policy think-tank.
-
NewsUK proposes flexibility on employer debt rules
[16:38 CEST 18-09] UK - Rules on how companies pay money into their pension schemes when they restructure may change under government proposals announced yesterday.
-
News
Aggregate FTSE 250 pension deficit hits £12bn
[17:00 CEST 16-09] UK – The total deficit of defined benefit (DB) pension schemes run by companies listed on the FTSE 250 index doubled to £12bn (€13.5bn) over the 12 months to the end of June, research from Pension Capital Strategies (PCS) has suggested.
-
News
Brent moves into infrastructure
[16:45 CEST 15-09] UK – The London Borough of Brent has awarded a £25m (€28.2m) infrastructure mandate to Alinda Capital Partners as part of a diversification investment strategy.
-
News
Two-thirds of UK workforce ‘unpensioned’ - TUC
[17:35 CEST 14-09] UK - Coverage of defined contribution (DC) schemes is not growing fast enough to fill the gap left by the continuing closure of defined benefit (DB) schemes, leaving two-thirds of the private sector workforce without a pension, according to data from the Trades Union Congress (TUC).
-
News
Northumberland scheme improves by £30m in Q2
[17:30 CEST 14-09] UK – The value of the Northumberland County Council pension fund increased by more than £30m (€34.1m) in the second quarter.
-
News
Vauxhall pensions ‘unlikely to change’ after GM Europe sale
[17:40 CEST 11-09] UK – GM’s decision to sell its Vauxhall subsidiary to the Canadian company Magna International, along with its German operation Opel, is very unlikely to affect the Vauxhall pension schemes, according to officials at the UK car manufacturing group.
