Defined Benefiit News Today

The Labour Party has announced its intention to carry out an “in-government pensions and retirement savings review” if it wins the next general election.

The Pensions and Lifetime Savings Association (PLSA) has outlined establishing the possible role of the UK pensions industry to boost growth in the UK economy as its key strategic goal for 2024.

More than one third (35%) of industry professionals are concerned about the stability of the funding of defined benefit (DB) pensions, according to a recent PA Asks survey.

UK adults with a defined benefit (DB) pension scheme are more retirement confident than those with a defined contribution (DC) arrangement, Nucleus Financial has found.

Half (50%) of defined benefit (DB) trustees now have an endgame strategy in place, research from Standard Life has found, however barriers to pursuing the goal remain for some.

The liability-driven investment (LDI) crisis has resulted in the vast majority (93%) of defined benefit (DB) schemes seeing their asset base reduce over the last year, research from PwC has found.

The Universities Superannuation Scheme (USS) is consulting on funding assumptions and methodology for its 2023 actuarial valuation and on its statement of funding principles.

Up to £75bn of investment from defined contribution (DC) and the Local Government Pension Scheme (LGPS) could be used to grow the economy and boost member outcomes, the chancellor will announce.

The UK’s 5,000 defined benefit (DB) schemes should be “realigned” with UK prosperity aims, a Hymans Robertson whitepaper has said.

The Tony Blair Institute (TBI) has called for the Pension Protection Fund (PPF) to become a ‘superfund’ in the UK known as ‘GB Savings’.