Defined benefit
In-depth reporting on defined benefit (DB) pensions for our pension fund and asset management readers from IPE’s award-winning journalists
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NewsActuary MP Joseph proposes mandatory ballots on Dutch DC conversion
Joseph’s amendment will, together with the one that arranges the extension of the transition period, be discussed on 29 January in Parliament
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Opinion PiecesViewpoint: How a DB ‘surplus code’ could support economic growth
David Wrigley, partner at LCP, says supporting the appropriate release of surpluses could provide a shot in the arm to the UK economy
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NewsUK regulator urged to support switch to DB surplus focus for growth drive
TPR and other economic regulators have been called in to Downing Street on Thursday to explain how they will support the government’s growth agenda
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NewsCompass Group Pension Plan completes £1.5bn buy-in with Standard Life
The transaction secures the benefits of over 14,000 pensioner members and 11,000 deferred members
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NewsClarks Footwear Pension Fund completes second buy-in with PIC
PIC has now insured all £820m of the fund’s defined benefit liabilities
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NewsLCP predicts new DB superfund and insurer PRT entrant in 2025
Consultancy expects 2025 to be another bumper year with £40-50bn of buy-ins
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Opinion PiecesCould DB pension plans make a comeback in the US?
This year will see developments in the US DC market, but the renaissance of DB plans is set to continue
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AnalysisWhat you need to know about the Dutch DC pension reform
January sees the first three pension funds transfer to a new DC-based accrual system in the Netherlands; others will follow over the next three years
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NewsPIC completes first transaction under streamlined service Mosaic
The buy-in deal for the General Council of the Bar Pension and Life Assurance Fund is worth £20m and covers its 103 members
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NewsAirways Pension Scheme completes £340m longevity swap
The deal is an insurance arrangement between scheme trustees and Zurich UK, and a back-to-back reinsurance arrangement between Zurich UK and MetLife
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NewsCalor Group pension fund appoints GSAM as fiduciary manager
Goldman Sachs Asset Management will manage £240m assets on behalf of Calor Gas’s UK defined benefit pension scheme
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NewsNorway’s pension providers at odds over paid-up policy proposals
Pension funds lobby calls for separate treatment for its members, while banking and insurance industry advocates same requirements for all providers
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NewsSEI joins forces with PIC to facilitate master trust access for DB scheme members
DB scheme members with DC and AVC arrangements will be able to access the SEI Master Trust
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NewsAlecta cuts DB equities exposure by €4bn in consolidation policy shift
Sweden’s biggest pension fund decides to reduce required funding level for surpluses to be transferred to employers
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AnalysisDB schemes indicate growing preference for retaining assets
But buyout remains preferred option, according to UK pensions industry
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NewsClara superfund takes over Wates Group’s 1,500 members
This is the first superfund transaction to be completed by an active business, Clara claims
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NewsPension Protection Fund puts levy decision on hold
The lifeboat expects to make a decision on a new levy for 2025/26 in January
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NewsHays pension scheme completes £370m buy-in with PIC
The transaction is final step towards Hays fully insuring its UK DB pension obligations
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NewsDB schemes with fewer than 1,000 members make up 80% of total funds under PPF
However, these schemes only make up around 10% of total assets, liabilities and members
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NewsMonte dei Paschi scheme seeks asset managers for DB sub-fund, private equity
The pension fund is looking for an asset manager to invest €70-80m in private equity and another for €80m to run its DB sub-fund
