UKSIF : Responsible Business: Sustainable Pensions 2011 report

25 August 2011 UKSIF seeks to promote responsible investment, sustainable pensions and other forms of finance that support sustainable economic development, enhance quality of life and safeguard the environment. Every two years it produces a report on the state of responsible investment within the UK pension scheme industry and has just come out with their 2011 report. Responsible investment has always been very relevant, but this was brought into even sharper relief by the Financial Reporting Council’s release of the stewardship code in 2010. Why not check the report on UKSIF’s website and see if your scheme is mentioned? External…

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DB Pensions – End-July 2011 PPF 7800 deficit

11 August 2011 The Pension Protection Fund produces a monthly index update (the August release has data taken as at 31 July) of the estimated funding position of the DB schemes potentially eligible for entry into the Fund. Total scheme deficits showed an increase from £8.3bn as at end June to £67.3bn as at end July. The liability calculations are worked on a s179 basis which approximates to the cost of having an insurance company take on the schemes’ payments but at the PPF’s level of benefit coverage. The change in deficit is only partly due to asset falls :…

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The Pensions Regulator : Take action to identify your statutory employer

28 July 2011 The Pensions Regulator has today published a statement, “Identifying your statutory employer”, to help trustees understand the importance of identifying their scheme’s statutory employer and how they should set about doing this. External link Commentary Why is this important? The statutory employer is legally responsible for meeting the funding requirements of a defined benefit scheme and paying s75 debt if certain events occur. The fate of the statutory employer is also relevant in triggering any future entry into the Pension Protection Fund. For many schemes, particularly those running (or who may run) a funding deficit, the “asset”…

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DWP : workplace pension reform

19 July 2011 The Department of Work and Pensions is seeking views on new draft regulations relating to the Government’s workplace pension reforms – the Automatic Enrolment (Miscellaneous Amendments) Regulations 2011 and the Automatic Enrolment (Miscellaneous Amendments) (No. 2) Regulations 2011. External link

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