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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....
...of EnnisKnupp, a consultancy that works with pension plans....
...These “buyouts” — of pension plans and the assets backing them — are regarded as the gold standard for safeguarding benefits....
...Sir Steve Webb, a former pensions minister and now partner with LCP, the actuarial consultants, said the suggestion of a statutory override was “very positive” for schemes looking for options for surplus...
...Last year, chancellor Jeremy Hunt announced plans to relax the tax charge on surplus funds extracted by employers from company pension plans, with the changes to come into effect in April....
...For decades the plans — which promise guaranteed pensions calculated on salary and length of service — formed the bedrock of British workplace pension provision....
...Sir Steve Webb, partner at consultants LCP, and a former pensions minister, thinks the most likely scenario is the “scoring” of defined contribution pots which had been crystallised — perhaps especially...
...The head of the UK’s National Infrastructure Commission has said he does not believe the government should tell pension schemes where to invest their members’ money....
...Bulk annuity sales, as these deals are known, should pick up from around £28bn in 2022 to £80bn by 2027 say pension consultants LCP — good news, you’d think, for insurance companies that specialise in annuities...
...On one hand, leading one of the world’s biggest pension plans should be incredibly desirable....
...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 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...
...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...
...Yvonne Braun, director of long-term savings at the Association of British Insurers, welcomed the plans to compare the performance of pension providers....
...Market-based cash-balance plans pool resources and offer the option of payments for life like a traditional pension, but the final payout is based on the plan’s investment returns, limiting the employers...
...The plan is designed to alleviate pressure on a pension system that is expected to come under huge strain in the next few years as a whole generation of “baby-boomers” born in the 50s and 60s enters retirement...
...Consultants draw parallels with the kind of credit used to back some interest rate swaps that blew up in the 2008 financial crisis....
...“We know that as we live for longer, we need to work for longer,” she said, adding, “we’ve got no plans to lower the state pension age.”...
...Employers are not obliged to pay into a pension plan chosen by their workers....
...In his Budget, Hunt confirmed new measures that require local authority pension funds and private sector retirement plans to disclose their UK investments....
...pension plans, to disclose their equity allocations to the UK and overseas....
...Today schemes like the Ontario Teachers’ Pension Plan rank among the largest and most sophisticated institutional investors in the world....
...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...
...He made the comments as he confirmed plans to introduce a new requirement on pension funds to disclose their allocations to the UK, and to ban poorly performing funds from taking on new business....
...LCP, one of the UK’s biggest actuarial consultant groups, said in a statement that the absence of pensions legislation could “severely limit what can be achieved this side of the general election”....
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