January sees drop in UK pension deficit, PwC’s Skyval Index shows |
PwC Skyval Index |
PricewaterhouseCoopers (PwC) |
31 Jan 2019 | United Kingdom | Funding and Minimum Funding Requirement, Scheme Issues & Trends, Surpluses and Deficits |
According to the latest PwC Skyval index, the deficit of defined benefit pension funds has decreased by £80bn compared to the previous month end and the total deficit now stands at £210bn at the end of January 2019. The reduction in the deficit is thought to be largely the result of the adoption of a new dataset, along with positive asset performance.
More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Jan 2019 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
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UK pension deficit increases by £60bn in December, according to PwC Skyval Index figures |
PwC Skyval Index |
PricewaterhouseCoopers (PwC) |
9 Jan 2019 | United Kingdom | Funding and Minimum Funding Requirement, Scheme Issues & Trends, Surpluses and Deficits |
According to the latest PwC Skyval Index, at the end of December 2018 the deficit of UK DB pension funds was £290bn, an increase of £60bn compared with the deficit recorded at the end of the previous month. The increase in the deficit is thought to be a result of the High Court's ruling on GMP equalisation at the end of October, a fall in bond yields and a fall in assets.
More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Jan 2019 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
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Pension scheme trustees paid less and working more days on average, new PwC survey reveals |
Pension scheme trustees paid less and working more days on average, new PwC survey reveals |
PricewaterhouseCoopers (PwC) |
9 Aug 2017 | United Kingdom | Trustees |
PwC's biennial survey of pension scheme trustees has revealed that overall average annual pay has declined in the last two years. The average number of working days required of board members has increased, with 37% working between 11 and 30 days per annum. More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Aug 2017 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
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Pensions Support Index June 2017 |
Pensions Support Index |
PricewaterhouseCoopers (PwC) |
Jun 2017 | United Kingdom | Surpluses and Deficits, Scheme Design (inc. DB & DC), Funding and Minimum Funding Requirement |
According to PwC's latest Pensions Support Index, there has been a fall of more than ten percentage points in the FTSE 350 companies' ability to support their DB pension obligations. This is the biggest annual fall since the recession. The index tracks the overall level of employer support provided to DB schemes and whilst corporate performance has been respectable, the rush for safe assets has pushed gilt prices up and yields down, hitting the valuation of DB liabilities very hard.
More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Jun 2017 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
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Companies could shave £230bn off pension deficits by refining approach to life expectancy projections |
PwC Skyval Index |
PricewaterhouseCoopers (PwC) |
1 Feb 2017 | United Kingdom | Surpluses and Deficits, Funding and Minimum Funding Requirement |
Figures from PwC's Skyval Index have revealed that the deficit of the UK's DB pension funds stood at £470bn at the end of January 2017. Of this, £230bn relates to potential life expectancy improvements a long way into the future and does not need to be pre-funded over the next decade.
More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Feb 2017 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
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Companies need extra £10bn per year for next decade just to fund new pension deficits built up in 2016 |
PwC Skyval Index |
PricewaterhouseCoopers (PwC) |
9 Jan 2017 | United Kingdom | Surpluses and Deficits, Funding and Minimum Funding Requirement |
Figures from PwC's Skyval Index have revealed that the deficit of the UK's DB pension funds decreased by £20bn in December 2016, bringing the total deficit down to £560bn, still £90bn higher than the start of 2016.
More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Jan 2017 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
D31019B9 | | Click here to contact the authors. |
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UK pension funding deficits remain at nearly one-third of UK GDP, despite recovery of £50bn in November 2016 |
PwC Skyval Index |
PricewaterhouseCoopers (PwC) |
1 Dec 2016 | United Kingdom | Surpluses and Deficits, Funding and Minimum Funding Requirement |
Figures from PwC's Skyval Index have revealed that the deficit of the UK's DB pension funds improved by £50bn in November 2016, bringing the total deficit down to £580bn, still more than £100bn higher than the start of 2016.
More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Dec 2016 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
1A101363 | | Click here to contact the authors. |
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Autumn Statement - more steps required to modernise pensions tax system, says PwC |
Autumn Statement - more steps required to modernise pensions tax system |
PricewaterhouseCoopers (PwC) |
21 Nov 2016 | United Kingdom | Taxation, Lifetime ISA |
According to research by PwC in light of the upcoming Autumn Statement, 65% of adults in the UK do not feel they understand how workplace pensions are taxed and 75% of those surveyed do not feel they understand how Lifetime ISAs will work.
More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Nov 2016 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
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Pension deficit recovers by £60bn in October 2016, according to PwC's Skyval Index |
PwC Skyval Index |
PricewaterhouseCoopers (PwC) |
31 Oct 2016 | United Kingdom | Surpluses and Deficits, Funding and Minimum Funding Requirement |
Figures from PwC's Skyval Index have revealed that the deficit of the UK's DB pension funds improved by £60bn in October 2016, bringing the total deficit down to £630bn. More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Oct 2016 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
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Pension deficit grows by £100bn in a month, according to PwC's Skyval Index |
PwC Skyval Index |
PricewaterhouseCoopers (PwC) |
1 Sep 2016 | United Kingdom | Surpluses and Deficits, Funding and Minimum Funding Requirement |
Figures from PwC's Skyval Index have revealed that the deficit of the UK's DB pension funds increased by £100bn in the last month, bringing the total deficit to £710bn.
More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Sep 2016 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
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Pensions Support Index July 2016 |
Pensions Support Index |
PricewaterhouseCoopers (PwC) |
Jul 2016 | United Kingdom | Surpluses and Deficits, Scheme Design (inc. DB & DC), Funding and Minimum Funding Requirement |
According to PricewaterhouseCoopers' (PwC) latest Pensions Support Index, there has been no overall improvement in the FTSE 350 companies' ability to support their DB pension obligations. The index tracks the overall level of employer support provided to DB schemes out of a possible score of 100 and reveals that the score now stands at 82, which is the same score as 2006.
More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Jul 2016 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
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Pension tax changes are forcing companies to rethink higher earners' reward packages |
Pension tax changes are forcing companies to rethink higher earners' reward packages |
PricewaterhouseCoopers (PwC) |
23 Dec 2015 | United Kingdom | Taxation, Scheme Issues & Trends, Scheme Design (inc. DB & DC), Pension Reform |
A survey by PricewaterhouseCoopers (PwC) of 130 companies has revealed that 26% of respondents are reviewing the role of pensions for all employees as a result of changes to the annual and lifetime allowance for higher earners from April 2016.
More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Dec 2015 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
69952377 | | Click here to contact the authors. |
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Wider pensions reform needed to tackle pension savings shortfall |
Wider pensions reform needed to tackle pension savings shortfall |
PricewaterhouseCoopers (PwC) |
30 Sep 2015 | United Kingdom | Taxation, Savings, Pension Reform |
Research from PricewaterhouseCoopers (PwC) has found that someone starting in employment today at the age of 22 will need to save a total of 15% of their annual salary towards their pension if they want to achieve their desired retirement income. The findings also revealed that 59% of people say their lack of understanding of the pensions system puts them off saving more into a pension.
More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Sep 2015 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
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People want pensions to be taxed like ISAs - PwC research |
People want pensions to be taxed like ISAs - PwC research |
PricewaterhouseCoopers (PwC) |
8 Aug 2015 | United Kingdom | Taxation, Pension Reform |
Research by PricewaterhouseCoopers (PwC) has found that four out of ten people would like their pensions to be treated more like Individual Savings Accounts (ISAs) so that they are taxed while working rather than in retirement. Only 27% of the 1,197 adults questioned said that they thought the current system of tax relief for pensions was the most appealing option.
More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> Aug 2015 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
819241AB | | Click here to contact the authors. |
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Pensions Support Index May 2015 |
Pensions Support Index |
PricewaterhouseCoopers (PwC) |
May 2015 | United Kingdom | Surpluses and Deficits, Scheme Issues & Trends, Scheme Design (inc. DB & DC), Funding and Minimum Funding Requirement |
According to PricewaterhouseCoopers' (PwC) latest Pensions Support Index, FTSE 350 companies' ability to support their DB pension obligations has fallen for the first time in over three years. The index tracks the overall level of employer support provided to DB schemes out of a possible score of 100 and reveals that the score now stands at 80, which amounts to a three point decrease since 2014.
More details are generally available exclusively to subscribers of Perspective, the electronic pensions legal & regulatory information and news service. To read the summary, subscribers should launch Perspective and navigate via the Table of Documents to PensionSurveys >> May 2015 or click here (this link will not work in all circumstances). For further information about Perspective click here. |
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