The aggregate funding position of the 7400 defined benefit funds monitored by the Pension Protection Fund improved to a deficit of £15.1bn in February.

UK/GLOBAL - The aggregate funding position of the 7400 defined benefit funds monitored by the Pension Protection Fund improved to a deficit of £15.1bn (US$22.6bn) in February.

Most employees still see a pension as the best way to save for retirement but only a third are confident it will provide an adequate retirement, latest research from the National Association of Pension Funds reveals.

Sales of enhanced annuities in the UK increased by 24% last year, latest Towers Watson research reveals.

UK - Sales of enhanced annuities in the UK increased by 24% last year, latest Towers Watson research revealed.

Sebastian Cheek previews the March 4 edition of Professional Pensions.

Trade unions could increase their members' pensions by more than half by backing collective defined contribution arrangements, a leading fund manager says.

The industry has lambasted proposals to restrict higher-rate tax relief for those earning more than £130,000.

Yesterday (March 3), the government closed its consultation on plans to restrict higher-rate tax relief on pension contributions from April 2011.

BT's rivals have attacked the telecoms giant for seeking to charge customers to help plug its £8.8bn scheme deficit.