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...These “buyouts” — of pension plans and the assets backing them — are regarded as the gold standard for safeguarding benefits....
...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....
...Pension trustees have also said they are worried about the potential threat from such arrangements....
...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...
...UK ministers and the regulator must not “finish off” the remaining traditional pension plans offering millions of workers a secure retirement income by making them invest in less-risky assets “inappropriately...
...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...
...Yet Just Group’s shares haven’t been buoyed along with the buyout market. Its share price and that of bigger rival L&G have snaked sideways for more than a year....
...Trustees of UK pension schemes would be prevented from taking “overly risky” decisions after government plans to ease employers’ access to billions of pounds in pension fund surpluses, ministers said....
...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....
...“Trustees need to exercise their fiduciary duties and these are heavy responsibilities that are placed on them....
...Trustees need to be telling advisers what to do, rather than the other way around. Rory Murphy Chair of Trustees Merchant Navy Officers Pension Fund West Sussex, UK...
...“I am not sure that it is the role of the government to tell trustees where they place their money,” said Armitt....
...“In my view, managing this type of risk should be the responsibility of governments, not trustees of pension schemes.”...
...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...
...“I am not sure that it is the role of the government to tell trustees where they place their money,” he said, when was asked whether he thought governments should compel pension funds to invest to help meet...
...Yvonne Braun, director of long-term savings at the Association of British Insurers, welcomed the plans to compare the performance of pension providers....
...Too much alienation would benefit no one but a few bureaucrats — the widely reported headwinds in China’s recovery are an omen. Mehdi Al Bazzaz Former World Bank Economist Alexandria, VA, US...
...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....
...workers, who tend to have defined benefit plans, cite pensions as a key reason they stay on the job....
...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....
...Michael Gove has been forced to water down plans to cap ground rents on millions of leasehold homes in England and Wales after lobbying by pension and investment managers who benefit from these payments....
...The Pension Protection Fund announced on Thursday that the levy it collects from eligible “defined benefit” schemes to help cover compensation payments to members of failed company retirement plans will...
...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....
...The sharp fall in the deficit was in line with wider funding improvements for thousands of corporate defined benefit (DB) plans in the UK, which promise members a pension for life....
...the automatic increase in benefits linked to inflation....
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