UK DB schemes keep endgame options open amid regulatory shifts
New research from mallowstreet, commissioned by Brightwell, reveals UK DB schemes are continuing to keep their options open regarding endgame strategies – despite improved funding levels and the introduction of a new DB funding code.
Find out more about “UK DB schemes keep endgame options open amid regulatory shifts”03/03/2025
Brightwell goes live as the administrator for the Mineworkers’ Pension Scheme
Brightwell has gone live as the administrator for the Mineworkers’ Pension Scheme (MPS) and has successfully completed its first pensioner payroll run following a transition taking just over 11 months.
Find out more about “Brightwell goes live as the administrator for the Mineworkers’ Pension Scheme”25/02/2025
Brightwell comments on the DWP’s announcement on the PPF levy
The Department for Work and Pensions has announced that it will consider giving the PPF more flexibility to reduce its levy. In turn, the PPF has announced that it has more than halved its levy estimate for 2025/26 to £45m. This is a significant reduction on the £100m estimate initially proposed. Read Brightwell CEO Morten Nilsson’s comments.
Find out more about “Brightwell comments on the DWP’s announcement on the PPF levy”30/01/2025
Brightwell comments on the bank of England’s Contingent Non-Bank Financial Institution (NBFI) Repo Facility (CNRF)
The new facility, which will only be activated during episodes of severe gilt market dysfunction, will lend to participating insurance companies, pension schemes and liability driven investment funds to help maintain financial stability. Read Brightwell CIO, Wyn Francis’ comments.
Find out more about “Brightwell comments on the bank of England’s Contingent Non-Bank Financial Institution (NBFI) Repo Facility (CNRF)”28/01/2025
Brightwell comments on government plans to make access to defined benefit pension scheme surplus easier
The government has confirmed that it will introduce new legislation to make it easier for employers to access surplus within their defined benefit (DB) pension schemes. Read Brightwell CEO, Morten Nilsson’s comments.
Find out more about “Brightwell comments on government plans to make access to defined benefit pension scheme surplus easier”28/01/2025
Brightwell comments on pension scheme surplus speculation
On Sunday 26 January, Sky News reported that the government is set to announce plans to unlock tens of billions of pounds from corporate pension schemes. Read Brightwell CEO, Morten Nilsson’s comments.
Find out more about “Brightwell comments on pension scheme surplus speculation”27/01/2025
Navigating 2025: Market outlook and implications for defined benefit pension schemes
The global economic outlook for 2025 looks promising but also presents challenges. Inflation is expected to moderate amidst steady U.S. growth, resiliency amongst some emerging markets, and shifting geopolitical and trade dynamics. According to the IMF, global GDP growth is expected to align with its long-term average, marginally above 3%. However, risks from elevated valuations, geopolitical tensions, and trade disruptions call for a measured approach by investors.
Find out more about “Navigating 2025: Market outlook and implications for defined benefit pension schemes”23/01/2025
Brightwell comments on the inheritance tax on pensions technical consultation
As announced at the Autumn Budget 2024, from 6 April 2027 most unused pension funds and death benefits will be included within the value of a person’s estate for Inheritance Tax purposes and pension scheme administrators will become liable for reporting and paying any Inheritance Tax due on pensions to HMRC.
Find out more about “Brightwell comments on the inheritance tax on pensions technical consultation”22/01/2025
Brightwell comments on the government’s announcement to maintain the pension fund clearing exemption for the longer-term
Today the government announced that it will take forward secondary legislation to ensure that the pension fund clearing exemption does not expire on 18 June 2025 as currently scheduled and to remove any further time limit on the exemption.
Find out more about “Brightwell comments on the government’s announcement to maintain the pension fund clearing exemption for the longer-term”10/01/2025
PFF Levy – the time for reform is now
The Pension Protection Fund is a key part of the UK defined benefit (DB) system, stepping in to provide essential compensation for members if the employer funding their pension becomes insolvent. It’s a lifeline to people who may think they’ve lost their entire retirement income.
Find out more about “PFF Levy – the time for reform is now”06/01/2025
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