The Trustee of the Coats UK Pension Scheme has completed a buy-in with Pension Insurance Corporation for £1.3bn. The transaction follows the scheme’s £350m buy-in with Aviva in 2022 and means that the scheme is fully insured and the pensions of all 18,042 scheme members secured.
Chris Martin, Trustee Chair, said: ““It has been an
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Jacqui Reid speaks at Hymans DC decumulation webinar
By Lewis Moore
Partner Jacqui Reid joins a panel discussing recent developments in DC Decumulation at a webinar hosted by Hymans Robertson on 25 September.
The panel will be looking at:
- Member wants and needs in retirement.
- TPR’s decumulation aims, guidance and outlook.
- Decumulation solutions and offerings, common misconceptions, and governance of these solutions.
- Possible challenges to consider
…
What does the next five years hold for DC pensions under the Labour Government?
By Alex Doyle
Emily Rowley, associate director, has written an article for Corporate Adviser, where she explores what the next five years could look like for DC pensions after the Labour Party were elected on a ‘change’ manifesto. In her article, Emily examines how the Government intends to focus on economic growth while maintaining stability in Government and…
Naomi Brown sets out five reasons to include lawyers in trustee meetings
By Alex Doyle
Naomi Brown, senior counsel, has written an article for Professional Pensions where she sets out five reasons why it is beneficial to include your lawyer in trustee meetings and how it can help them to deliver tailored advice in an efficient way and make it feel as though they are part of your team.
You…
Georgina Jones comments on the benefit of consolidating pension pots
By Alex Doyle
The value of small, lost or forgotten pension pots is estimated to have increased to around £26.6 billion in recent years, according to a briefing note by The Pensions Policy Institute’s published in October 2022. Georgina Jones, partner, is quoted in an article by Employee Benefits, commenting on the benefits of consolidating small pension pots,…
Emily Rowley shortlisted in Professional Pensions Rising Star Awards 2024
By Lewis Moore
We are delighted that associate director Emily Rowley has been selected as a finalist in the ‘Lawyer of the Year’ category in this year’s Professional Pensions ‘Rising Star’ awards.
Emily is shortlisted alongside 11 other nominees, all of whom we wish the best of luck. The awards dinner takes place on 14 November in London.…
Janet Brown comments on new DB funding code laid before Parliament
By Alex Doyle
Janet Brown partner, Sackers comments:
“Marking the next step in the journey towards the new DB funding regime, TPR’s code of practice was laid before Parliament today. Several years in the making, the new DB funding regime will require schemes to produce a funding and investment strategy aimed at achieving “low dependency” on their sponsoring…
Court of Appeal upholds High Court’s Virgin Media decision on failure to obtain a s37 confirmation
By Alex Doyle
On 25 July 2024, in the case Virgin Media v NTL Pension Trustees II Limited (and others), the Court of Appeal upheld the High Court’s 2023 decision on the correct interpretation of historic legislation governing the amendment of contracted-out DB schemes.
Tom Jackman, partner, Sackers, comments:
“This greatly anticipated appeal ultimately considered a single limited…
Sackers announces promotions for 2024
By Lewis Moore
We are delighted to announce our 2024 promotions. Andrew Worthington has been promoted to partner; Liam Goulding, Emily Whitelock and Lucy Swart-Mallett to associate director; and Sam Dalling to senior associate. The promotions take effect on 1 August 2024.
David Saunders, senior partner, said: “Being able to reward talented lawyers by making these internal promotions…
Matching overtakes DB value data accuracy as biggest dashboard concern for schemes
By Lewis Moore
Sackers announced today the results of our most recent webinar survey* showing the biggest concern for schemes when it comes to dashboards is ensuring the matching process runs successfully (26.37%), followed closely by providing accurate DB value data (25.27%).
This is a significant change to 2022 when the same question was asked and providing accurate…