Legal experts have said a High Court ruling charts new territory for employer covenant rules and clarifies the position of members with a final salary link, as regulators balance the needs of employers and schemes.

The British Coal Staff Superannuation Scheme has announced pension increases for its members, as it ends the surplus-sharing arrangement established after the privatisation of the scheme's employer in 1994.

Lloyds Bank’s larger defined benefit pension fund has ditched a proportion of its equity holdings in favour of credit and hedge fund strategies, as pension funds widen their search for diversified sources of return.

Fear of being alone in making a mistake is driving pension funds to knowingly follow ineffective manager recommendations from investment consultants, according to academics.

Twenty defined contribution pension schemes administered by Aon Hewitt have seen delays to their members’ derisking strategies, leaving them exposed to risk assets for up to four years longer than intended.