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...Thousands of members of the pension plan of collapsed retailer Debenhams are to have their retirement benefits restored under a groundbreaking deal for the UK’s nascent “superfund” market....
...Industry-level aggregate data from the Pension Protection Fund shows that UK defined benefit pension plans invested 10 per cent of their equity allocations into domestic listed companies in 2022, down from...
...These “buyouts” — of pension plans and the assets backing them — are regarded as the gold standard for safeguarding benefits....
...of EnnisKnupp, a consultancy that works with pension plans....
...No regulated advice or guidance (which is free from the government-backed Pension Wise service) was sought for 37 per cent of income drawdown plans taken out in the 2022-23 tax year....
...For decades the plans — which promise guaranteed pensions calculated on salary and length of service — formed the bedrock of British workplace pension provision....
...But at that stage every pension plan was an island, with no interconnections and no obvious mechanism for enabling the pension to follow the member. Ten years on that has all changed....
...Analysis from The Pensions Regulator suggests that more than 3,750 of the UK’s defined benefit-style retirement plans have assets in excess of their liabilities or are in surplus. Read more here...
...“I don’t know if annuities are the future, but they’re a missing piece. They can help supplement what defined benefit plans used to do,” said TIAA’s Pitney....
...“The central purpose of DB pension schemes — to pay the benefits promised to members — should not be undermined,” said Hetty Hughes at the Association of British Insurers, the industry trade body....
...Today schemes like the Ontario Teachers’ Pension Plan rank among the largest and most sophisticated institutional investors in the world....
...workers, who tend to have defined benefit plans, cite pensions as a key reason they stay on the job....
...Some of the UK’s biggest pension plans are taking advantage of steep price discounts to snap up real estate and other private assets, as fellow retirement funds put their harder-to-sell holdings on to the...
...The pension tax change is expected to be closely watched by other corporate sponsors of “defined benefit” plans against the backdrop of much-improved funding positions....
...This is of course because state pensions are social security benefits that can be scrapped without consequence. Government accountants collectively decided this many years ago, so it must be true....
...But UK business has been brisk: rising interest rates have transformed funding levels in defined benefit pension schemes and enabled companies to consider offloading future liabilities....
...The aggregate surplus of the UK’s 5,100 pension schemes was about £428bn at the end of December, according to analysis by the UK’s Pension Protection Fund....
...Yvonne Braun, director of long-term savings at the Association of British Insurers, welcomed the plans to compare the performance of pension providers....
...The California Public Employees’ Retirement System has named a former top executive at the New Zealand sovereign wealth fund to direct the largest US public pension plan’s investments following the abrupt...
...The regulator estimated that the combined value of assets for 5,100 company defined benefit plans fell by around £425bn over 2022, from £1.79tn to £1.36tn — equivalent to a 24 per cent drop....
...After that date there are some changes to pension death benefits which you may want to avoid by doing the crystallisation before then....
...Individual pension contributions wouldn’t be used to buy stocks and shares, but “money from the state”. However, the reform will not prevent pensions contributions from rising....
...Sir John Armitt made his remarks at the Trades Union Congress conference in London, a week after chancellor Jeremy Hunt unveiled new measures to increase investment by UK private sector pension funds in...
...Employers are not obliged to pay into a pension plan chosen by their workers....
...If you don’t have any stipulations in place — some death benefits can be bought as “add-ons” to an annuity — your pension funds return to your provider upon your death....
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