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...The trend has been driven by the rise in interest rates driving down the cost of pension liabilities....
...BP is in talks over a landmark insurance deal for its £30bn final salary pension fund as rising interest rates give companies the chance to shift billions of pounds of liabilities off their books....
...“Our plan for the British economy is working.”...
...GM has delayed plans to build electric versions of its Chevrolet Silverado and GMC Sierra trucks....
...For decades the plans — which promise guaranteed pensions calculated on salary and length of service — formed the bedrock of British workplace pension provision....
...That’s a big driver of a parallel trend in the other direction that has seen a record number of US companies paying to offload their closed pension plans to insurers while rates are high....
...Some wanted to limit working hours in order to offset increases in the hourly minimum wage, and others sought to spend less on non-wage benefits such as sick pay, pension contributions and national insurance...
...Today schemes like the Ontario Teachers’ Pension Plan rank among the largest and most sophisticated institutional investors in the world....
...Calpers From the Financial Times’ intrepid pensions guru, Josephine Cumbo, yesterday: Calpers, the US’s biggest public pension plan, is to increase its holdings in private markets . . ....
...Despite the concerns, some pension plans continue to bet heavily on private credit....
...Private equity executives need to “share the wealth” they create with workers at the companies they buy, according to the investment head of Calstrs, the giant US pension fund that is one of the world’s...
...Hunt announced the changes alongside plans to give the UK pensions lifeboat fund a new role as a consolidator of small corporate pension schemes....
...Our goal remains to reach an agreement that rewards our employees and allows GM to be successful into the future.”...
...There are no current proposals to shake up the rules so that workers get to choose their own workplace pension provider, as employees in Australia do....
...“For these employers, the proposed changes may make little or no impact on the contributions paid to their employees’ pension pots, though they should still check that their pension design would continue...
...Pensions Poorly performing workplace pension schemes are to be banned from taking on new business under plans confirmed in the Budget....
...of EnnisKnupp, a consultancy that works with pension plans....
...In contrast, contribution rates for the Universities Superannuation Scheme, the main retirement for the sector, are set to fall significantly for both employers and employees due to improvements in the plan...
...GM agreed to a 25 per cent hourly pay rise over the next four years....
...Now the BoE plans to stress test insurers on their exposure to reinsurers through a flurry of corporate pension deals, as concerns mount about the risk posed by offshore arrangements to UK retirement savers...
...He cut national insurance contribution (NIC) rates for employees and the self-employed, but chose to leave income tax and NIC thresholds frozen....
...At the end of 2022 there were around 27,000 UK DC pension plans, with 85 per cent reporting fewer than 12 members. UK pension plans’ investment remains heavily focused on listed equities and bonds....
...However, many plan to increase their pension contributions to avoid the “£100,000 tax trap” of high marginal rates and the loss of childcare benefits....
...’ policy plan.”...
...The lower contribution rate could nevertheless still reverse a cut in USS pension benefits that was made in 2022 when the plan was in deficit....
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