Open transfers would boost competition

In this week's Pensions Buzz we want your opinions on early exit fees and transfer processes.

The accounting deficits of the UK's biggest pension schemes rose by 17% last month, according to research from Mercer.

The Ensign Retirement Plan, an industry-wide defined contribution (DC) scheme for the shipping sector, opens for business tomorrow.

The industry wants more information from The Pensions Regulator (TPR) on fines handed out for auto-enrolment non-compliance, according to research by Professional Pensions.

In some cases compromising benefits is the least bad option

High fees and clunky transfer processes must be tackled

Most firms staging in the last three months have complied with auto-enrolment obligations, but there has been a steep rise in unpaid contribution notices issued by The Pensions Regulator (TPR), figures show.

4imprint is working to cut the liabilities in its defined benefit scheme by turning a £25m pensioner buy-in into a partial buyout and launching a liability transfer exercise for deferred members.

MIRA Retirement Benefits Scheme (MIRARBS) has secured a £70m buyout after agreeing to compromise its sponsor's statutory debt as part of a corporate restructuring.