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23 March 2020

The difference a week makes

What does the aftermath of 'Black Monday', its effects on the wider economy and businesses confidence, mean for defined benefit pension schemes?

03 March 2020

10 key things you should know about the DB funding code consultation

The DB funding code consultation published on 3 March 2020 sets out deeper thinking and intervention than ever before from the Pensions Regulator (“TPR”) on funding DB pension schemes. We set out the 10 key things you should know.

10 February 2020

Navigating the pensions endgame universe in 2020: What you need to know

Assessing the range of endgame solutions can be challenging. That’s why we convened a group of over 100 pensions professionals at our recent ‘Navigating the pensions endgame universe’ event to tackle the topic. We’ve summarised some key themes from the many insightful talks and discussions.

18 December 2019

Universities participating in TPS and LGPS - Are pensions still “No. 1” this Christmas?

2019 hasn’t been an easy year for universities and developments in their multi-employer pension schemes. And there seems to be no let up as 2019 draws to a close.

05 December 2019

Are the authorised master trusts ready for TPR’s supervisory regime? Part 3 of 3

In the last of our series of blogs reflecting on what we have seen in the authorisation process, we discuss the financial reserves of a master trust (MT).

26 November 2019

Are the authorised master trusts ready for TPR’s supervisory regime? Part 2 of 3

By Fan Jia In the second of our series of blogs reflecting on what we have seen in the authorisation process, we discuss the running costs of a master trust (MT). Keeping on top of the costs of running an MT could be harder than thought As part of the...

21 November 2019

Are the authorised master trusts ready for TPR’s supervisory regime? Part 1 of 3

By Fan Jia Out of the 90+ Master Trusts (MTs) that were in the market, 37 have been authorised by The Pension Regulator. Many of these attended the Regulator’s Supervision event on Monday, marking the end of a rigorous process which more than halved the number of players in the...

15 November 2019

Independent Financial Advisors - Ongoing Monitoring Services

By Stephen Soper, Katie Lightstone, Stephen Etherington and Dhrupti Shah For a long time companies and trustees have been challenged with ensuring their members get quality advice at the point of retirement and beyond. It is interesting to see this being discussed and new solutions being developed which will help...

09 October 2019

Telling stories about pensions

Discussing pensions disclosures.

27 August 2019

Why considering life expectancy risk is like Love Island

By Paul Kitson, Partner “I’m writing a blog on projecting life expectancy for pension funds” I said to my friend the other day. “How do I make it more interesting?” I asked. “Include references to Love Island'' she said. “People might read it then”. Hmm, I’m not so sure. ‘Write...

23 May 2019

DB Pensions: How can integrated risk management help charities?

If you fully understand the risks that your charity and its pension fund faces, you’re in a better position to prepare its defined benefit (DB) pension for any shocks that may come.

15 May 2019

The endgame for defined benefit schemes - Every cloud has a silver lining

By Ben Stone I can vividly remember the time in my life when I have felt most cold. As a teenager, I joined my Dad in climbing up Snowdon one November day and the higher we went into the cloud the more damp and cold I got. Eventually we had...

05 March 2019

Roll forwards

By Brian Peters, Financial Reporting Pensions Leader When I was growing up, a roll forward (or was it a forward roll?) was something we were required to do in PE and I wasn’t very good at them, or cartwheels, for that matter. Roll forwards have re-entered my consciousness in a...

28 February 2019

The death of life expectancy increases may have been somewhat exaggerated

By Rick Watts, Financial Reporting for Pensions Actuaries are not known for keeping things simple, but in the realm of life expectancy assumptions we have really outdone ourselves. Between base table scaling factors, age ratings, CMI improvements, and smoothing parameters it’s not surprising that we can face some glazed expressions...

21 January 2019

Re-measurements change presents new practical and accounting challenges

The International Accounting Standards Board has implemented a new remeasurements pensions change, which applies for accounting years beginning 1 January 2019. Learn more here.

29 October 2018

Accounting for GMP equalisation - 28 years in the making

By Brian Peters It’s unusual for companies to take 28 years to decide how they should account for an event. But that’s how long it has taken to work out how companies should interpret the May 1990 Barber judgement by the European Court of Justice on providing equal pension benefits...

24 September 2018

Pension scheme bulk annuities: 2018 is now officially a new ‘Personal Best’ for the market

By Ben Stone Earlier this month the Airways Pension Scheme announced their £4.4bn buy-in with Legal & General. PwC led the transaction and we are proud to have helped the scheme reach a position where, when added to existing insurance contracts, it is now 90% hedged across all risk. The...

21 September 2018

Improving the pensions accounting 'experience'

By Rick Watts. Clearly no-one is a fan of bad surprises, but good surprises can be just as annoying in certain circumstances.

06 September 2018

Time to modernise pension accounting

By Brian Peters, Financial Reporting for Pensions Leader Large multinational companies typically operate employee benefit plans according to local custom and practice for their workforce around the world. PwC has carried out research in to how companies collect and process their pension information around the world for financial reporting purposes...

16 July 2018

Don't be fooled by the emergence of pension accounting surpluses

By Brian Peters Actuaries are using more sophisticated approaches to setting the discount rate for IAS 19 financial reporting purposes. These approaches might involve the removal of certain bonds from the index that are arguably not corporates such as university bonds. In addition, actuaries may include corporate bonds which are...