Defined Benefit (DB)

Government intervention in the pensions system seems to be a frequent and favourite pastime in the UK. Indeed, the usual response of the industry to the seemingly perennial tinkering is to groan and ask, politely, to be left alone. However, the current consultation ‘Options for Defined Benefit schemes’ stands out in that it is to be welcomed. Read thoughts from Kerrin Rosenberg, CEO Cardano Investment on the proposals and the impact on the UK economy.

The measures that the Department for Work & Pensions (DWP) and the Government are proposing would “open up” the DB market and make other options more achievable. Read our thoughts on the Options for Defined Benefit consultation here.

Our view is that the Statement of Strategy is predominantly a risk filter tool for TPR, rather than a risk management tool for trustees. We are concerned that in some areas, the Statement of Strategy asks for more than trustees might otherwise consider, and in other areas, the information required falls short of best practice and we have concerns that trustees may believe they are adequately assessing covenant when all they are doing is providing TPR with data. Read our response to The Pensions Regulator’s consultation here.

Defined Benefit (DB) pension schemes remain a key stakeholder in corporate transactions. Nick Gibson, Senior Director at Cardano discusses three key takeaways to unlock value when considering M&A deals involving DB schemes.

For a pensions market that is all but closed to new members, defined benefit (DB) pension schemes and perhaps primarily the Government, are not resting on their laurels. In this outlook article, Kerrin Rosenberg outlines what the year has in store for UK DB pensions.

We are pleased to share the following insights from across our Group – Cardano UK (Advisory and Investment), Cardano NL, and NOW: Pensions – looking ahead to what’s in store for 2024.

CFOs of UK businesses remain unclear and unprepared for the potential impacts of environmental, social and governance (ESG) risks on their businesses, according to research from Cardano, the investment management and advisory business. This is despite the growing importance of ESG issues for companies of all sizes.

In this approaching endgame differently video series, we outline the different types of pension scheme risks and how Cardano can help you deliver the right risk solution. 

Nick Gibson, Senior Director at Cardano, comments on the government’s plan to change rules around when scheme surpluses can be repaid from today’s Autumn’s statement.

Nick Agius, Director at Cardano Advisory comments on the latest UK company insolvency statistics.

In our latest Covenant Quarterly, we discuss the Chancellor of the Exchequer’s first Mansion House speech. We also cover debt maturities, the ISSB framework and the implications of funded reinsurance.