The trustee of the IMI 2014 Deferred Fund has agreed a £175m partial buy-in with the Pension Insurance Corporation (PIC), covering liabilities for the remaining 1,378 uninsured scheme members, around 97 per cent of which are deferred members.
This is the sixth partial buy-in undertaken by the scheme, with PIC having insured approximately £1bn of liabilities sponsored by IMI plc since 2016, including a £250m partial buy-in in January 2022
The Association of Member Nominated Trustees (AMNT) has suggested that there would be "overwhelming" support for a new requirements for every pension scheme to have at least one accredited trustee on its board
The Department for Work and Pensions (DWP) and The Pensions Regulator (TPR) have been encouraged to give “urgent attention” to addressing industry concerns around the draft defined benefit (DB) funding regulations
Pensions Age takes a look back at the top stories of the week, including the government's defined contribution (DC) package, the latest bulk annuity market updates, and industry concerns around pension tax complexities
The increased number of economically inactive working age people has “nothing to do with retirement from paid work”, LCP partner, Steve Webb has stated
With an increased focus on ESG in both pensions investment strategies and the activities of underlying businesses in which funds are invested, greenwashing is not just an irritant but a real danger to schemes, members and trustees. David Adams reports on attempts to tackle the problem