News

Brightwell comments on the 2025/26 PPF levy

Morten Nilsson, CEO, Brightwell – primary services provider to the £35.7bn BT Pension Scheme said: “We welcome the Pension Protection Fund’s (PPF) announcement that it is delaying a decision on the 2025 / 2026 levy. “A well-functioning, safe and robust defined benefit (DB) sector is in everyone’s interest and the PPF has a key role in ensuring this.

12/12/2024

End of Year Highlights 2024

2024 has been a busy and productive year at Brightwell. We’ve reached new heights of member satisfaction for BTPS and introduced a fully online retirements service. We won a new administration client – the Mineworkers’ Pension Scheme - and celebrated a year of providing fiduciary management services to EEPS.

12/12/2024

Toby Perkins MP visits Brightwell’s offices in Chesterfield

On 5 December, MP for Chesterfield Toby Perkins visited Brightwell, a major local employer with over 122 employees. Brightwell is a comprehensive provider of services to DB pension schemes and its largest client is the BT Pension Scheme (BTPS). All pension scheme administration activities are handled from Brightwell’s offices in Chesterfield.

09/12/2024

Brightwell comments on the publication of the PPF Purple Book

Morten Nilsson, CEO, Brightwell said: “The PPF Purple Book once again highlights the highly fragmented nature of UK DB schemes. It’s startling that schemes with fewer than 1,000 members make up 80 per cent of the total number of schemes but only around 10 per cent of total assets, liabilities, and members."

06/12/2024

Expert investor series – How could pension scheme buyouts influence the gilt market

Pension funds invest in gilts (UK government bonds) due to their ability to match liabilities, through their interest rate and inflation linkage. However, insurance companies, which take over the management and payment of members’ pensions during a buyout, traditionally prefer higher-yielding assets.

03/12/2024

Older workers rethinking retirement

To coincide with National Older Worker’s Week (25 – 29 November 2024) a new report on the Future of Ageing from the International Longevity Centre (ILC) commissioned by Brightwell has found that more people are economically active in later life, and this increase has been particularly pronounced among women.

25/11/2024

Brightwell: Mansion House speech a missed opportunity for the DB pensions sector

Commenting on the Mansion House speech on 14 November, Morten Nilsson, CEO, Brightwell said: “It’s disappointing that the Chancellor missed the opportunity to use the Mansion House speech to provide the DB sector with clarity around the proposals to make it easier for pension scheme surplus to be returned to sponsors.

15/11/2024

Brightwell comments on Mansion House speech speculation around defined benefit pension schemes

Commenting speculation regarding the upcoming Mansion House speech on 14 November, Morten Nilsson, CEO, Brightwell said: “Research we conducted with Trustees of pension schemes over £1bn at the start of the year found that 41% were undecided on their pension scheme’s endgame.

11/11/2024

Expert investor series – DB run-on: skills for success in the decumulation phase

UK defined benefit (DB) schemes are entering a new phase marked by improved funding levels yet increasingly negative cash flows as they shift from accumulation to decumulation. This brings new investment and operational challenges.

29/10/2024

Nearly two thirds of BTPS members retiring fully online

Brightwell has seen strong adoption of its full self-serve online retirement journey, launched earlier this year for BTPS members. Nearly two thirds (63%) of all retirements completed between February 2024 and the end of September 2024 were undertaken by members online.

23/10/2024