Unite is considering establishing a collective defined contribution scheme, as union groups voice their support for defined ambition benefit structures that share risk between employees.
Imperial Tobacco has increased contributions to its UK defined benefit scheme to boost its winding-up funding level, which has dropped by 12 percentage points, according to its latest valuation.
The number of FTSE 250 executives taking taxable cash supplements instead of pensions has risen, according to a survey, as the way high-earners receive benefits has changed in light of lower lifetime and annual allowance limits.
The court of appeal has ruled to uphold a crown guarantee given to the BT Pension Scheme, making the government responsible for ongoing liabilities should the employer fail.
The London Borough of Barking and Dagenham Pension Fund plans to invest around £25m in social housing in order to hedge against inflation and diversify away from traditional assets.
The defined benefit section of the Pearson Group Pension Plan has reached close to 100 per cent funding less than 18 months after agreeing a reduction in the length of its recovery plan.
Comment & Analysis
Any other business: Economist and diplomat John Galbraith once said: “Meetings are indispensable when you don’t want to do anything.” But with fiduciary duty weighing heavily on trustees, board meetings must be a forum for effective decision-making.
Talking head: Pensions minister Steve Webb discusses the government's pension reforms and the need for pot-follows-member to come to life.
The argument for transparency in fiduciary management is not going away. Yes, many companies calling for third-party assessment themselves provide it, but that does not mean their views should be automatically dismissed.
Video: Simon Howard, chief executive at sustainable investment trade body UKSIF, and Ralph McClelland, senior associate at Sackers, discuss the Law Commission's report on fiduciary duty, including the impact of its distinction between financial and non-financial factors (5:37).
Video: Mark Fawcett, chief investment officer at Nest, discusses the state-sponsored mastertrust's forthcoming consultation on how its investment strategy should change in light of the Budget reforms (5:03).
Video: Neil Carberry, director for employment and skills at the CBI, gives the employer's view on this year's historic pension changes, from the at-retirement flexibility bestowed by the Budget to the government's plans on defined ambition (5:38).
The DC Debate
- Are iPads harming or helping trustee boards? The cases for and against tablet governance
- Webb: pension reform far from over
- Where do we stand on pot-follows-member after the Budget?
- Local government schemes reject forced passive CIV proposals
- EE closes scheme to future accrual on affordability concerns