Jane Slatter

Divisions in the pensions industry over whom should benefit from DB pension schemes surpluses became apparent during a webinar organised by consultants LCP,  the latter said in a statement. By a narrow margin, the largest group of the 200 participants (37.5%) felt  companies who had set up a scheme in the first place and provided most […]

Proposals for reforming Defined Benefit pension schemes, set out by the Chancellor in his July Mansion House speech could see DB FTSE 350 schemes access up to £50 billion, an analysis by Barnett Waddingham suggests. It notes that the DWP has called for evidence that covers various alternative approaches to DB scheme funding. “One of

Britain’s high rate of inflation fell by more than expected in June and was its slowest in over a year at 7.9%, according to data that will ease some of the pressure on the Bank of England to keep on raising interest rates sharply. Sterling weakened and investors scaled back their bets on future increases

Research by Barnett Waddingham shows that around one-third of FTSE 350 DB schemes were fully funded at end-May compared to only 11 pct a year earlier, while the average time to buyout had fallen to 5 years, a drop of 3 years from May 2022. The main reason for the shift was the substantial increase

The UK’s Pension Protection Fund (PPF) said its funding ratio rose to 156 pct at end-March this year against 137.9 pct a year earlier, with total consolidated reserves up £400 mln at £12.1bln from £11.7 bln The strong growth in the funding ratio was mainly due to reported liabilities dropping some 25pct. In its annual

From the FT (12/7/2023) By Helen Thomas The UK pensions system still doesn’t know what it wants to be when it grows up. That is the impression left by a flurry of consultations, calls for evidence, government responses and reports published after Jeremy Hunt’s Mansion House speech. The frantic airing of ideas and soliciting of

UK Chancellor Jeremy Hunt said the government will launch a call for evidence today (June 11 ) on the role of the Pension Protection Fund (PPF) and the part DB schemes play in productive investment, “whilst always being mindful of the second golden rule to protect the sound functioning and effectiveness of the gilt market” His first

 ( FT- July 7) Trustees for BP’s UK defined benefit scheme, which has more than 60,000 members, are in talks with multiple insurers over a so-called buy-in deal, according to five people familiar with the discussions, which has the potential to be the biggest in the history of the industry. Higher rates have transformed the

Willis Towers Watson proposes six changes the government could make to facilitate access to ‘trapped surplus’ within DB pension schemes – unlocking an opportunity to use the capital more productively for the benefit of employers, employees, and the UK economy. UK private sector defined benefit (DB) pension schemes hold around £1.5 trillion in assets, and

While improving and maintaining funding levels remains the most important priority for UK DB schemes. there is a marked increase of 11 pct to 56 pct in the importance decision makers are placing on de-risking towards their endgame, compared to a previous analysis in autumn/winter 2022, Russell Investments said.. It also noted that in the