Defined benefit
In-depth reporting on defined benefit (DB) pensions for our pension fund and asset management readers from IPE’s award-winning journalists
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AnalysisWhat you need to know about the Dutch DC pension reform
January sees the first three pension funds transfer to a new DC-based accrual system in the Netherlands; others will follow over the next three years
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NewsPIC completes first transaction under streamlined service Mosaic
The buy-in deal for the General Council of the Bar Pension and Life Assurance Fund is worth £20m and covers its 103 members
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NewsAirways Pension Scheme completes £340m longevity swap
The deal is an insurance arrangement between scheme trustees and Zurich UK, and a back-to-back reinsurance arrangement between Zurich UK and MetLife
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NewsCalor Group pension fund appoints GSAM as fiduciary manager
Goldman Sachs Asset Management will manage £240m assets on behalf of Calor Gas’s UK defined benefit pension scheme
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NewsNorway’s pension providers at odds over paid-up policy proposals
Pension funds lobby calls for separate treatment for its members, while banking and insurance industry advocates same requirements for all providers
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NewsSEI joins forces with PIC to facilitate master trust access for DB scheme members
DB scheme members with DC and AVC arrangements will be able to access the SEI Master Trust
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NewsAlecta cuts DB equities exposure by €4bn in consolidation policy shift
Sweden’s biggest pension fund decides to reduce required funding level for surpluses to be transferred to employers
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AnalysisDB schemes indicate growing preference for retaining assets
But buyout remains preferred option, according to UK pensions industry
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NewsClara superfund takes over Wates Group’s 1,500 members
This is the first superfund transaction to be completed by an active business, Clara claims
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NewsPension Protection Fund puts levy decision on hold
The lifeboat expects to make a decision on a new levy for 2025/26 in January
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NewsHays pension scheme completes £370m buy-in with PIC
The transaction is final step towards Hays fully insuring its UK DB pension obligations
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NewsDB schemes with fewer than 1,000 members make up 80% of total funds under PPF
However, these schemes only make up around 10% of total assets, liabilities and members
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NewsMonte dei Paschi scheme seeks asset managers for DB sub-fund, private equity
The pension fund is looking for an asset manager to invest €70-80m in private equity and another for €80m to run its DB sub-fund
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AnalysisIPE UK Briefing: Consolidating LGPS assets and DC funds into 'megafunds'
Plus: British Growth Partnership; Innovation in BPA market
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NewsUK regulator publishes defined benefit covenant guidance
The update is the last piece of the jigsaw to help schemes carry out valuations under the new DB funding code
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NewsMerchant Navy Ratings Pension Fund completes £450m longevity swap
Transaction is structured as an insurance contract with a captive insurer in Guernsey
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NewsKION Group completes £250m buy-in deal with Canada Life
Deal covers five different UK DB pension schemes within the group, covering the benefits of over 3,000 members
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NewsNational Grid’s Electricity Supply Pension Scheme completes £1.7bn buy-in with Aviva
The transaction included transitioning the group’s existing longevity swap with Zurich to Aviva
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NewsM&G launches Value Share Bulk Purchase Annuity with £500m transaction
The proposition balances the needs of both members and sponsor
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NewsAhold Delhaize buys off sponsor guarantee for pension fund
The move is related to the fund’s planned transition to a DC arrangement in 2027
