Defined Benefit (DB) pension plans are entering a new phase in their decades-long journey from valuable employee benefit to legacy financial arrangement. Taking the analogy of a journey further than any firm had dared go before, we led delegates of the FT’s inaugural CFO Dialogues event, in November, on a space-themed tour of this peculiar universe.
Defined benefit pension schemes are widely acknowledged to be in decline and entering an era of run-off. However as is often the case with pensions, the timeframe over which this is expected to play out is, shall we say, a little longer than normal!
Chris Hawley, Associate, speaks to Mark Golley, Employer Relationship Manager at TPT to get the latest news on the 2017 valuation and the initial results.
The Pensions Regulator has published a quick guide for employers on funding DB pension schemes. It highlights key points for employers approaching valuations, including working with trustees and investing for sustainable growth of the business.
The Pensions Regulator has published new guidance for trustees on monitoring and assessing the employer covenant. This practical resource will help trustees understand the support given by employers to their pension schemes.
Although the main deadline for the 2015/16 PPF levy has now passed, employers and trustees should be aware that the PPF’s information collection process does not end until 30 June 2015, and that there are further actions that can be taken to reduce PPF levies before invoicing starts later this year.
The judge has handed down her ruling in the High Court case of the Merchant Navy Ratings Pension Fund v Stena Line Ltd and Others. This ruling could have implications for trustees and sponsoring employers of multi-employer schemes previously believed to be closed.
The new accounting standards issued by the Financial Reporting Council, mandatory for accounting periods commencing on or after 1 January 2015, will impact every university.
Our 2014 buy-outs and buy-ins report, published today, shows 2014 is set to be a record breaking year for bulk annuity transactions.