News

 ( 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

Some Sotheby’s pensioners are considering taking their cases to the Pensions Ombudsman, alleging maladministration over the way the scheme was explained to them. The auction house has stopped paying inflation increases on pre-1997 pensions that pensioners thought were guaranteed and is now planning a scheme buyout without the increases, Mallowstreet.com reports. Pensions accrued before 1997

Inflation figures for September 2021 were published recently and showed the Retail Prices Index (RPI) rose 4.9% from a year earlier. The Consumer Prices Index (CPI) rose 3.1%. These figures will be used for RPF and SPS pension increases from 1 January 2022 for those who retired before 1 January 2021. In practice, this means that

The RPF Trustees’ website has recently been updated with an item on the impact of Brexit for UK pensions and RPF, as well as additional useful information and links in the Members Information section. Commenting on Britain’s referendum vote to leave the EU, the RPF website said, “We are unlikely to see major changes to the