British Airways (BA) took advantage of "accidental" drafting of the rules surrounding a £250m contingent payment in a bid to block discretionary increases for the Airways Pension Scheme (APS), a trustee has told the High Court.
Employer-nominated trustee (ENT) Alan Buchanan said payment of the £250m - promised to APS in the 2009 triennial valuation negotiations - required both APS and New Airways Pension Scheme (NAPS) to formally...
This week's top stories included analysis suggesting the British Steel Pension Scheme could have a £2bn surplus, while the Treasury removed its controversial MPAA cut from the Finance Bill.
Members of master trusts will see greater protection as new rules for an authorisation regime and capital adequacy have been signed into law.
Royal Mail has offered its employees a cash balance defined benefit (DB) scheme as a compromise for closing its current career average DB scheme to accrual.
The question of the state pension age will not be answered before the snap general election, the Department for Work and Pensions (DWP) has told PP.