Lloyds Bank has launched a joint legal bid with its pension trustees and unions to equalise guaranteed minimum pensions (GMPs) in a move which could cost the industry £20bn.
Baillie Gifford and Montanaro are the first asset managers to sign up to a new transparency code to help the Local Government Pension Scheme (LGPS) get a better handle on investment costs.
Sponsors of defined benefit (DB) schemes have squeezed their workers' wages by around £200 compared to companies without these funds, a think tank has revealed.
As a transparency code is launched for the Local Government Pension Scheme, Stephanie Baxter looks at how it could set a gold standard across the industry.
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