Experts have welcomed the government’s recent consultation proposing a new deferred debt arrangement for employers in multi-employer pension schemes, but concerns over complexity of employer debt regulation remain.
Jaguar Land Rover is switching its defined benefit schemes from final salary to a career average revalued earnings structure, as companies look to cut costs and manage risk while keeping employees on board.
Tata Steel has reportedly offered to contribute £520m to the British Steel Pension Scheme as part of a bid to reach a regulated apportionment arrangement with UK pension authorities.
Faced with a projected cash outflow of nearly £5m in 2016-17, the London Borough of Bromley pension fund is trying to keep income up with a new investment strategy.
The Leonardo Electronics Pension Scheme has adapted its liability hedging strategy to reflect the career salary benefit changes implemented last year to reduce risk and costs.
The Post Office section of the Royal Mail Pension Plan remains in surplus, its latest funding update shows, just weeks after it was closed to future accrual amid union consternation.
A legal dispute involving trustees of the Johnston Press Pension Plan about the equalisation of retirement ages has been put to bed by the Scottish Court of Session, using a quirk of law known as the “presumption of regularity”.
The Financial Conduct Authority has published a progress report on its Financial Advice Market Review, alongside a consultation that sets out proposed guidance, but reactions in the pensions industry show there is still a long way to go.
A memorandum of understanding has been signed by John Menzies and trustees of its pension scheme as it has closed the scheme and plans to begin a sectionalisation process, but experts have highlighted that this sort of agreement is rarely legally binding.
Slow responses from HM Revenue & Customs are delaying efforts by the Invensys Pension Scheme to reconcile guaranteed minimum pensions, the scheme’s trustees have told members.