Defined benefit – Page 24
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News
UK roundup: London councils switch pension investments to renewable energy
Plus: DB schemes maintain surplus amid market volatility
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News
IASB calls a halt to IFRIC 14 DB refund project
A total of 11 IASB members out of 12 backed the decision to cease work on the project
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FeaturesStrategically speaking – WTW: Democratising private markets
WTW’s ill-fated merger with Aon, announced at the outset of the pandemic in early March 2020, would have shaken up the corporate insurance brokerage market. It would also have created an outsourced CIO (OCIO) giant to compete with Mercer in terms of delegated assets under management (AUM).
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Book ReviewBooks – Demographics Unravelled: A broad and granular understanding of demographics
Amlan Roy’s contention in his new book Demographics Unravelled is that a wider and more holistic approach to demographics is necessary. An academic by background and a long-standing former head of global demographics and pensions research at Credit Suisse, Roy’s choice of focus in his book underlines his views.
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Opinion PiecesNotes from the Netherlands: Inflation could bolster pension reforms
The Dutch pension agreement, paving the way for a change from a defined benefit to defined contribution-type system, was concluded in the pre-COVID summer of 2019. But it is still waiting to be implemented, with the delay blamed on the protracted negotiations following Dutch parliamentary elections in March 2021.
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FeaturesAccounting: DB sponsors at a crossroads
If a decade ago the talk was of defined-benefit (DB) scheme sponsors locked in an infernal struggle against the dizzying gravity of spiralling accounting deficits, thoughts now are turning to the end game.
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Country ReportCountry Report – Pensions in The Netherlands (March 2022)
The nominal treatment of liabilities in the Netherlands’ FTK pension regulatory framework means schemes don’t need to explicitly hedge inflation. But Dutch inflation came in at one of the highest rates in the euro-zone in January, and there has been strong criticism in the last decade about pension indexation cuts.
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NewsUK, EU DB accounting position broadly favourable, consultants say
Accounting experts at WTW reported discount rates across a range of plan maturities of between 1.8% and 2% per annum
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NewsUK DB schemes maintain surplus despite fall in asset and liability values
Plus: UK-listed companies with DB schemes see profit warnings increase
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Country ReportCountry Report – Pensions in Ireland (February 2022)
Ireland’s new trustee code is bedding in following its publication last autumn. The code aligns Ireland with IORP II, with rules on governance, administration, controls, DB management and ‘fit and proper’ requirements.
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Features
Research - DB pensions: a high-wire act in the end game
In the second article in a series, Pascal Blanqué and Amin Rajan outline the intricacies of managing a defined benefit pension plan in the run-off phase
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News
FCA considers advice redress scheme over British Steel transfers
Consultation expected by end March, subject to final approval of consultation documents by the board
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News
FTSE 350 companies could save £15bn by taking TPR’s ‘bespoke’ funding route
40% of FTSE 350 companies should consider a ‘bespoke’ strategy, says Hymans
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News
UK pension scheme funding improves despite £129bn deficit
Purple Book also shows fixed income allocation increases to 72%
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News
UK DB schemes’ surplus should lead to more efficient investing, says PwC
Pension scheme investment in Gilts has more than doubled, from 23% to 50% of their assets, the firm found
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News
UK DB consolidator appoints Mobius Life
Stoneport participating employers retain a share of control in their investment strategy
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Country ReportFinland: Declining birth rate is main worry
The country’s defined benefit pension system is largely healthy, but long-term challenges need to be addressed now
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FeaturesResearch: DB plans caught in a Catch 22
Pascal Blanqué and Amin Rajan argue that a toxic confluence of demographics, regulation and interest rates are undermining the finances of pension schemes
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News
NN Group eyes Dutch €343bn corporate pension pot
The group expects the DC pension market for insurance firms to double over the next few years
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NewsUK roundup: Kempen wins fiduciary mandate
Plus: Link Group launches digital platform; FCA’s proposal for a new default option
