Weir Group established a Scottish Limited Partnership with the trustee of its main defined benefit scheme last year, allowing the group to reduce its deficit recovery payments while adding to the security of members’ benefits.

Global engineering group GKN signed off a second pensioner buy-in during 2015, insuring an additional £47m of pensioner liabilities, as part of a broad strategy to manage asset and liability risk as the group’s UK schemes mature.

Regional publishing group Johnston Press has cut its IAS 19 deficit by £63m in the past year, with close to 85 per cent arising from changes to the mortality assumptions.

Missed by many amid the Budget’s pomp and circumstance, the summary of responses to the government consultation – ‘Strengthening the incentive to save’ – contains a resounding call for stability but no clear solution to the nation’s savings crisis.

HM Treasury and the Financial Conduct Authority have released a raft of recommendations in the bodies’ review of the financial advice market, but industry commentators have said “tighter and more ambitious timescales” are required to make the pensions dashboard a reality.

Barclays is assessing which of its entities will participate in the bank’s UK Retirement Fund from 2026, when ringfencing regulations become fully effective, as schemes across the sector face up to complex covenant questions.