Defined Benefit

Top stories this week include trustees banned over an £11m scam, criticism of compliance-focused actuaries and plans to let people cash in annuities. Here's what you might have missed.

The government is consulting on relaxing the employer debt regime that requires firms to pay their portion of any deficit in full when they leave a multi-employer scheme.

While last year's Budget put the focus firmly on DC, trustees still need to be aware of potential risks in their DB scheme say Peter Murphy and Arshad Khan.

The Pension Protection Fund (PPF) is developing plans to bring some of its asset management in-house as it expects to see external manager fees rise 50% this year.

Hilary Salt warns quick-fix compliance is replacing professional judgement

The total deficits of defined benefit (DB) schemes in the Pension Protection Fund (PPF) 7800 have fallen by 32% after hitting record levels in January.

Delaying the tightening of pension transfer regulation until after the April pension freedoms could result in two months of confusion and poor decisions, it has been said.

Companies spend too much time on defined benefit (DB) schemes compared to defined contribution (DC) schemes according to Calor Gas financial director Adam Thompson.

Taylor Wimpey has cut annual deficit recovery contributions by £30m after completing a raft of liability management exercises including a £206m medically underwritten buy-in.

The Financial Conduct Authority (FCA) is proposing changes to its rules that would require all pension transfer advice to be verified by a qualified specialist.