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.
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.
The pension scheme of housebuilder Taylor Wimpey has undertaken a widespread derisking programme, strengthening existing hedges while converting physical equity investments into a synthetic, volatility-dampening exposure.
The John Laing Pension Fund has agreed a recovery plan worth £171m to be paid over seven years by its sponsor, infrastructure investor John Laing, following an actuarial valuation.
The Centrica Combined Common Investment Fund, which manages holdings for the energy giant’s pension schemes, has trimmed its exposure to corporate bonds, reweighting its portfolio towards high-yield debt.
The Severn Trent Pension Scheme has agreed a new asset-backed funding strategy with its sponsor, following a year which saw its accounting deficit more than double despite derisking measures.
A number of local authority schemes have faced administration challenges and missed deadlines after implementing new software, as the provider struggled with capacity troubles.
The HSBC Bank UK Pension Scheme has selected a multi-factor fund with a tilt towards low-carbon businesses as the equity component of its default offering, a switch that will see £1.85bn of defined contribution savers' money invested in line with green principles.
The British Coal Staff Superannuation Scheme has opted to stop sending monthly paper payslips to its members from August 2017, saving the fund almost £400,000 a year.
The trustees of the New Airways Pension Scheme have agreed a new funding arrangement with sponsor British Airways, a move that saw share prices in BA’s parent company International Airlines Group soar by more than 5 per cent on Wednesday.