The Bank of England's (BoE) decision to increase interest rates for the first time in over a decade has been welcomed by the industry, yet the move will only be "symbolic" for most defined benefit (DB) schemes.

This week's top stories included the Trades Union Congress calling for collective defined contribution schemes after finding a bad year of investment performance a year before retirement can leave savers £5,000 a year worse off.

Arc Pensions Law has announced Anna Copestake has been promoted from senior associate to partner, increasing its total number of partners to eight.

BT will launch a consultation with members over the future of its defined benefit (DB) scheme "shortly", potentially including plans to close the plan to future accrual.

Follows rising inflation and GDP

Former pensions minister Baroness Ros Altmann has claimed civil servants gave explanations that "didn't really ring true" for not introducing a cold calling ban while she was in office.

The combined funding position of the UK's defined benefit (DB) schemes improved by £50bn over October, PwC analysis suggests.

The Environment Agency Pension Fund (EAPF) has boosted its efforts to combat climate risk and the impacts of climate change in an updated environmental policy.

European institutional investors are leading the way in their response to environmental, social and governance (ESG) concerns compared to their American and Canadian counterparts, research has revealed.

Pot luck on investment returns leaves savers playing "pensions roulette" in the years just before retirement, the Trades Union Congress (TUC) has said.