DB schemes ditch equities as funding levels improve
The health of the FTSE100 DB schemes improved significantly last year, with new figures showing funding levels increased from 110 per cent to 120 per cent over the year. In total the aggregate...
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DB funding levels increase driven by rising gilt yields
The aggregate surplus of defined benefit schemes rose markedly in May as rising gilt yields drove funding levels higher, alongside a change in the PPF methodology. The PPF 7800 Index showed that...
Fairs urges rethink of DB pension rules to provide greater flexibility
David Fairs is urging for rule changes to allow more members of defined benefit (DB) pension schemes to benefit from pension freedoms. Fairs brought to light the difficulties DB pension holders experience...
Bulk purchase annuity market set for record 2023
The de-risking market is on track to hit record volumes this year with £45bn to £60bn of transactions according to pension consultants LCP. It is prediction as many as 15 transactions at...
PPF to become UK ‘superfund’ under proposals by Tony Blair think tank
The Pension Protection Fund should be turned into a ‘superfund’ to boost investments into the UK economy according to Tony Blair’s Institute for Global Change think tank. Its ‘Future of Britain’ initiative...
FOI request shows ‘low-risk’ pension transfers caught by scam rules
New regulations, designed to identify potentially high-risk pension transfers, may be picking up high numbers of potentially low-risk transfers that simply relate to overseas investments. Ahead of a potential review of these...
WTW senior consultant joins Broadstone as actuarial director
Broadstone has appointed Jeremy Clack as its senior actuarial director. Clack joins from Willis Towers Watson where he has worked for most of his 20-year career. Over this period Clack has worked advising...
Lighthouse censured for unsuitable DB transfer advice
The Financial Conduct Authority has censured Lighthouse Advisory Services for the unsuitable advice given to those looking to transfer out of defined benefit pension schemes. These “serious failings” occurred between 2015 and...
FRC consults on CDC and buyout actuarial standards
The Financial Reporting Council (FRC) has published a consultation to revise Technical Actuarial Standard 300 (TAS 300) and introduce Technical Actuarial Standard 310 (TAS 310), aimed at ensuring the actuarial standards in relation...
Sackers urges DB schemes to plan ahead for buy-outs
Despite the increase in activity in the risk transfer market, any schemes still have some way to go on their de-risking journey, according to a recent survey by pensions law firm Sackers. ...
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