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...More than 10,000 members of the Debenhams pension plan were transferred to the UK’s pension protection scheme in 2019, following the collapse of the 240-year-old retail group....
...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....
...“This contradicts the fundamental legal principle of ‘innocent until proven guilty’ and risks undermining trust and confidence in the wider industry and the UK’s competitiveness....
...”, a group of MPs has warned....
...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...
...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 $38tn US retirement system is one of the world’s largest, and US employers were among the first to shift from defined benefit pensions to defined contribution plans....
...The proposals come after the funding positions of defined benefit retirement plans have improved significantly over the past 18 months due to rising interest rates making it cheaper for the schemes to meet...
...workers, who tend to have defined benefit plans, cite pensions as a key reason they stay on the job....
...Poorly performing pension plans will be banned from taking on new business as part of a major shake-up of Britain’s £120bn workplace retirement market, under government plans unveiled ahead of next week’...
...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....
...pension plans, to disclose their equity allocations to the UK and overseas....
...This would raise £200mn in the present tax year, with the potential to add £1bn-£2bn in the coming decades as the move away from final salary pension schemes continues to boost defined contribution pension...
...Today schemes like the Ontario Teachers’ Pension Plan rank among the largest and most sophisticated institutional investors in the world....
...— has quite the job ahead of him, which he obliquely nodded to in the pension plan’s statement: “I’m grateful to CalPERS’ leaders for the trust they’ve put in me to help shape the pension fund’s next chapter...
...Employers are not obliged to pay into a pension plan chosen by their workers....
...The proposals include a requirement for defined contribution pension schemes to disclose from 2027 how much they invest in the UK....
...Its removal allowed defined contribution pension investors to jettison any concerns of a tax charge should they breach the limit by picking a fast-growing fund or portfolio of shares....
...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....
...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...
...Giving evidence to a parliamentary committee Paul Maynard, pensions minister, said more than half of the UK’s 5000 corporate defined benefit plans were now fully funded....
...“Those with big defined benefit pensions or property income might be willing to play a bit faster and looser with their investment portfolio,” said AJ Bell’s Laith Khalaf....
...The government is consulting on proposals to enable employers to use surplus funds built up in defined benefit plans. These schemes currently serve around 10mn members....
...Our plan is that workplace pensions would be attached to a worker and go with them when they change job....
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