IPE's United Kingdom Coverage – Page 260
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News
Serco pays £17m to fund deficit, close defined benefit pension fund
UK – Outsourcing giant funds DB scheme acquired in recent deal to buy part of IT company Vertex.
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UK roundup: Guinness Peat, Coats, TPR, East Sussex Schroders Property
UK – Coats planning to double pension plan contributions in bid to tackle £100m deficit.
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UK's Cambridgeshire outperforms, warns of 'unexciting' equity returns
UK – Fund sees outperformance despite property, European equity falling short of expectations.
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UK roundup: HMV, Deloitte, Aon Hewitt, Lookers
UK – Pension fund for retailer HMV fund unlikely to see outstanding claims, says administrator.
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Neighbouring UK councils consider £4bn pension fund merger
UK – Local authorities hopeful of support for plan that predates government merger consultation.
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Royal Mail reports pension surplus after liability transfer
UK – Annual report sees IAS 19 surplus after government assumes legacy liabilities.
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News
Investments at UK charities return nearly 18% over last year
EUROPE – Charity returns power ahead for first six months of 2013.
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News
PPF shift to bespoke insolvency risk model 'could increase transparency'
UK – Towers Watson says model catered to PPF’s needs could be more open with how companies are assessed.
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UBS 'freezes' defined benefit pension fund in UK [updated]
EUROPE – Closure appears to be linked with drive to comply with Basel III capital requirements.
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UK Coal funds to enter Pension Protection Fund after restructuring
UK – Agreement will see UK lifeboat scheme receive payments from new company.
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PPF benefit cap changes to add £140m to levy
UK – Increased cost, estimated through 2030, to be borne by those paying lifeboat scheme’s levy.
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Pension Protection Fund 'big enough' to accommodate UK Coal liabilities
UK – UK Coal in talks with creditors following forced closure of major mine in March.
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UK lifeboat scheme to amend benefit cap for long-time workers
UK – Government announces change to benefit cap for workers contributing over 20 years to same scheme.
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London council proposes collective vehicle as merger alternative
UK – Retaining status quo of individual management ‘not viable alternative’ to mergers.
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NewsMorgan Stanley predicts increased BT deficit, de-rates shares
UK – Broker predicts pension deficit of UK company to top £6bn in forthcoming annual results.
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NewsBerkshire rejects disclosure of council tax data in pension scheme funding
UK – Percentage of council taxes used in local pensions a 'meaningless statistic', county says.
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NewsActuaries enabling LGPS to 'postpone' funding decisions
UK – Local authorities putting off tough deficit decisions, Pensions Institute warns.
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News
UK Pension Protection Fund to maintain levy payments at current rate
UK – Lifeboat scheme responds to industry concerns that 25% increase would be unsustainable.
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NewsDeficit at Universities Superannuation Scheme balloons to £9.8bn
UK – Funding ratio at pension fund drops from 92% in 2011 to just 77%.
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NewsMNOPF debates complete buyout and winding down of fund's Old Section
UK – Buyout could be completed by autumn, fund tells members in letter seen by IPE.
