More defined benefit news – Page 129
-
News
Field wants Green to seek TPR clearance for Arcadia sale
Work and Pensions Committee chair Frank Field has written to Sir Philip Green asking him to commit to seeking voluntary clearance from the Pensions Regulator before selling Arcadia Group. Field said he will also write to the Pensions Regulator.
-
News
Barnet grapples with data difficulties
The £1bn London Borough of Barnet Pension Fund has implemented a recovery plan after falling under scrutiny from the Pensions Regulator over its administrative struggles.
-
NewsHigh Court backs employers in Wedgwood dispute
The High Court has ruled in favour of participating employers in the Wedgwood Group Pension Plan, who terminated their liability to contribute to the scheme in 2006.
-
NewsSelect committee: Members let down by response to British Steel
The Pensions Regulator, Financial Conduct Authority and the UK government have all let down former members of the British Steel Pension Scheme, according to a scathing report into the scheme’s restructuring and ensuing transfers scandal.
-
News
Field: Big four audit firms 'feasting on Carillion carcass'
The Work and Pensions Committee inquiry into the collapse of outsourcer Carillion has turned its scrutiny on the 'big four' professional services companies, and has published the consultancies' responses to queries about their involvement.
-
News
Trinity Mirror commits to Northern & Shell schemes
Trinity Mirror has announced the acquisition of Northern & Shell's publishing assets for a total purchase price of £126.7m. The buyer has agreed measures to support its acquisition’s pension schemes.
-
News
Pensions Ombudsman investigates transfer complaints
The Pensions Ombudsman is investigating a group of over 150 complaints surrounding transfer values relating to the British Steel Pension Scheme. It will soon carry out another investigation over member complaints about early retirement factors.
-
NewsScotland’s transport police could get separate scheme section
Members of the British Transport Police Force Superannuation Fund are set to be moved to a new section in the scheme from April 2019 if trustees agree, while new recruits will join the unfunded police arrangement or Local Government Pension Scheme.
-
NewsThales case shines light on power of scheme rules
A High Court case involving Thales and trustees of its pension scheme has concluded it cannot move from the retail price index to the consumer price index for some benefits, highlighting how the wording in a scheme’s rules dictates the measure of inflation that is used.
-
News
WPP buys in £140m across five schemes
Communications services giant WPP has insured £140m of defined benefit liabilities with the Pension Insurance Corporation.
-
News
Consolidation could see 4 in 5 schemes disappear
Consolidation will see just 1,000 defined benefit schemes still operating in 25 years’ time, according to a new report, but some experts doubt the appetite from government or the private sector to bring about economies of scale.
-
NewsRegulator publishes British Steel section 89 report
The pensions watchdog has outlined its decision-making process in a regulatory report on the British Steel Pension Scheme, published six months after greenlighting the regulated apportionment arrangement to separate the BSPS from Tata Steel UK.
-
News
Select committees blast Carillion directors
MPs chairing the joint inquiry into the collapse of outsourcer Carillion have lambasted the company's former directors as "delusional", highlighting that recovery plans drafted shortly before the insolvency paid little consideration to pensioners.
-
News
Edinburgh Airport scheme hires new consultant
The Edinburgh Airport Pension Plan has appointed actuaries and consultants Spence & Partners for defined benefit pension scheme management.
-
News
BT to close DB managers’ scheme
BT is to close its defined benefit BT Pension Scheme to managers for future accrual on May 31 2018.
-
NewsNissan defies carmaker trend towards DC
Car manufacturer Nissan is consulting on a proposed switch to a career average scheme to reduce the volatility of its pension liabilities, amid recent and proposed moves to defined contribution in the industry.
-
News
BT to appeal High Court ruling
On the go: BT will appeal last month’s High Court ruling against changing the measure by which increases for its Section C scheme are calculated, from the retail price index to the consumer price index.
-
News
Royal Mail and CWU reaffirm commitment to CDC
Royal Mail and the Communication Workers Union have reiterated that they have "reached an agreement in principle" on pensions, pay, a shorter working week, culture and operational changes. The union's executive recommends that CWU members vote in favour of the proposals in an upcoming ballot.
-
News
Prospect: Govt must uphold promise to electricity workers
A group of Carillion electricity workers may become a key test case for pension protections, according to union Prospect.
-
News
High Court set to hear objections to Barclays pension plans
The High Court will hear objections to Barclays’ decision to back its pension scheme with its non-ringfenced investment bank, reports the Financial Times.