Vodafone has contributed £325m to its defined benefit scheme as it completes the transfer of the Cable & Wireless Worldwide Retirement Plan, after purchasing the rival telecoms company in 2012.
The BBC has seen a small improvement in its accounting pension deficit as it embarks upon a 12-year plan of additional contributions to boost its scheme funding.
North East Scotland Pension Fund plans to establish a dedicated governance team – incorporating communication responsibilities – to deal with the increased workload produced by local government pension scheme reforms.
Industry experts have predicted the use of enhanced transfer value exercises could increase as employers look to encourage switches out of defined benefit plans in light of the Budget changes, but trustees have been urged to ensure members receive adequate advice.
Participating employers of the Principal Civil Service Pension Scheme will face an increase in their pension costs, due to a reduced discount rate, following government efforts to control public spending.
A report released last week found smaller employers may consider decreasing basic pay to implement auto-enrolment, while experts said implementing the reform will lead to a focus on benefit structure.
Comment & Analysis
Any other business: Low voter turnout has plagued many elections. As the famous apocryphal quote from US politics runs, “A low voter turnout is an indication of fewer people going to the polls”.
Talking head: The regulator's Andrew Warwick-Thompson sets out the detail of the watchdog's renewed push against pension liberation scams, which he reveals have resulted in one scheme member taking his own life when a promised lump sum did not materialise.
In this edition of Informed Comment, PASA's Margaret Snowdon argues the guidance guarantee should be brought in for all major benefit choices, such as joining or leaving a pension scheme, and delivery need not be restricted to regulated advisers.
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 Cut: latest posts
The DC Debate
- Webb: pension reform far from over
- Are iPads harming or helping trustee boards? The cases for and against tablet governance
- Snowdon: 'unseen army' of non-IFAs could deliver guidance guarantee
- Civil service employers face increased contributions after discount rate cut
- One in four executives taking cash in lieu of pensions