Pensions Age

PPF announces amendments to 2011/12 levy

The Pension Protection Fund (PPF) has proposed improvements for the 2011/12 levy year which reflect changes to the Dun & Bradstreet (D&B) methodology, used to measure insolvency risk for the PPF, and industry feedback. The PPF has published proposals which would also see a new attribute called ‘nationwide’

DWP reforms lack common sense

The Government’s latest draft of reforms due in 2012 require a ‘further injection of common sense’ before they can feasibly work in the real world, warns the National Association of Pension Funds (NAPF)

De-risking top of scheme priorities

The vast majority of trustees and sponsors are finally looking at de-risking as a priority for their schemes, but many still struggle to develop governance structures to help them do so, says Mercer

Insolvencies still at �unprecedented levels�

Insolvencies in England and Wales still remain at �unprecedented levels� and pension fund trustees must remain vigilant by monitoring their employer covenant and finding ways to improve their scheme’s position, says Jonathan Land, partner and pensions credit advisory leader, PricewaterhouseCoopers (PwC)

PPF deficit increases to 1.2bn

The Pension Protection Fund (PPF) has revealed that its deficit has risen to £1.2bn but that its protection framework has remained resilient through the recession, in its latest annual accounts report for 2008/09.

Commercial property receives mixed response

Pension funds appear to be receiving mixed messages about whether or not they should invest in commercial property, following recent statements from consultants and fund managers on the asset class.

Manufacturing losing its grip on DB

The UK manufacturing industry is waving goodbye to defined benefit (DB) pension schemes, with 62 per cent now closed to new members and a further 14 per cent closed to future accrual, says EEF and CPH Consulting.

Pension de-risking hits highest level in Q3

Risk transfer deals for final salary pension schemes reached their highest ever total value in the third quarter of 2009, according to Hymans Robertson.

BNY Mellon buys Insight Investment

BNY Mellon has finally purchased Insight Investment Management Limited from the Lloyds Banking Group for £235m.

NAPF and Northern Trust launch pension

Northern Trust and the National Association of Pension Funds (NAPF) have joined forces to update their custody guide, Custody Made Simple.

LGPS affordability issues must be addressed

Politicians must create an independent commission to examine affordability issues over local authority pensions, says Anthony Mayer, chairman of the London Pension Fund Authority

Changes necessary to current annuity purchase process

A new communication strategy needs to be introduced in the pre-retirement stage in order to prevent retirees taking on a poor value annuity, says the Pensions Income Choice Association (PICA)

Dark clouds back over pensions

Just when you thought the gloom was starting to lift from the pensions sector, new research from AXA shows that pensioner poverty is set to rise, with 64 per cent of UK workers expecting to rely on the state pension

PwC voices concerns over company liabilities

PricewaterhouseCoopers LLP (PwC) has echoed concerns raised by Xafinity Consulting with research showing that pension liabilities disclosed in accounts have increased by around 25 per cent over the last six months

DC member literature not up to standard

A third of literature dished out to pension scheme members is in breach of legislative requirements, or shows signs of poor practice, according to the results of an investigation by The Pensions Regulator (TPR)

DWP and PADA publish consultation response

The Trades Union Congress (TUC) has welcomed the publication of the results of the Department for Work and Pensions (DWP) and Personal Accounts Delivery Authority’s (PADA) consultation

Liabilities set to rocket by year-end

The UK’s pension liabilities will hit £1,204bn by the end of 2009, despite substantial improvements in global equity markets, warns Xafinity Consulting

Emerging markets top pick for UK investors

UK investors have tipped emerging markets as the top performer over the coming years, according to research by Ignis Asset Management

Alternative choices to DB closure out there

There is still light at the end of the defined benefit (DB) tunnel, says Hewitt Associates, as closure is not the only option for these schemes

Risk assets returning to investors' portfolios

Investor appetite has swung back in favour of riskier assets over the last six months, with 55 per cent now overweight in risk assets compared to only 17 per cent six months ago, according to research by Schroders

Help at hand for governance-troubled trustees

Help will be available for trustees when they come to review their investment governance arrangements and compliance with the Myners Principles from Mercer, with the launch of its investment governance assessment service

Pensioners set to receive rude RPI awakening

A negative Retail Price Index (RPI) will hit pensioners hard, effectively wiping an average £900 off a £12,800 per annum pension between 2008 and 2010, warns Hewitt Associates

Alternative assets to reappear

Alternative assets should soon come back onto the radars of institutional investors, says BlackRock, despite problems experienced in 2008

IoD proposes state retirement age rise to 70

The Institute of Directors (IoD) has added fuel to the default retirement age (DRA) debate by declaring that it should rise to 70 as soon as reasonably practical

Positive outlook for buyout market

Despite levels of activity lower than those in 2008, the UK buyout market has remained active and is on a long-term upward curve, reports Mercer

LGPS assets fall by �24bn over 2008/09

Local Government Pension Schemes (LGPS) in England and Wales saw a drop of 19 per cent (£24bn) in asset values during 2008/09