Corporate pensions

U.K. corporate pension deficits flat in May

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The total deficit of all U.K. corporate defined benefit funds increased 0.5% in May to £183 billion ($235 billion), but fell 5.7% for the year ended May 31.
Hoover U.K. pension fund granted clearance to enter Pension Protection Fund

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The Hoover (1987) Pension Scheme, Bolton, England is expected to enter the Pension Protection Fund within a month.
Corporate pension buyouts exceed $1 billion for eighth straight quarter — report

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U.S. corporate pension plan buyouts reached $1.4 billion in the first quarter of 2017, up 31% from the prior year's first quarter, a LIMRA survey finds.
EBSA, PBGC join forces to find missing participants

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A joint effort by the Department of Labor's Employee Benefits Security Administration and the Pension Benefit Guaranty Corp. has recovered $1.5 million for missing participants in two terminated...

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Nestle SA, Vevey has hired Blackrock Advisors (U.K.) as acting interim investment manager for its pension funds.

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Veolia U.K. Pension Plan and Veolia Energy Pension Scheme hired Schroders as fiduciary manager to cover £880 million of assets.
Sears secures annuity buyout with MetLife covering $515 million in pension liabilities

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Sears Holdings Corp. purchased a group annuity contract from MetLife to transfer about $515 million in U.S. DB liabilities.
College of Law Pension and Assurance Scheme secures fourth buy-in

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The College of Law Pension and Assurance Scheme, Guildford, England, completed a £28 million ($36 million) buy-in with Aviva.
Dutch pension funds banking on higher investment returns to fill funding gaps

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Dutch pension funds are betting on higher projected investment returns to help plug funding deficits.
British Steel Pension Scheme, Tata Steel U.K. agree to pension plan severance

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A regulated apportionment arrangement, which severs a pension fund from its sponsoring employer, has been agreed in principle between Tata Steel U.K. and the trustee of the British Steel Pension...
RBC: Canadian pension funds post fourth straight quarter of positive returns

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Canadian corporate and public pension plans returned an overall 2.9% in the first quarter and up from 0.5% in the fourth quarter of 2016.
5% of U.K. pension plans could suffer from sponsoring employer's unprofitability

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One in 20 U.K. corporate defined benefit funds has a weak funding ratio due to market conditions such as low bond yields, leading to increased liabilities and large deficits, said The Pensions...
Looming tax reform spurs hefty corporate pension contributions

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U.S. corporations are accelerating their schedules of pension plan contributions as they face increasing PBGC variable premiums and imminent corporate tax reform.
Treasury denies Automotive Industries Pension Plan’s benefit cut proposal

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The U.S. Treasury denies Automotive Industries Pension Plan permission to cut benefits for participants, including retirees, as part of a proposed rescue plan.

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Dennis Simmons has been named executive director of the Committee on Investment of Employee Benefit Assets.