Defined Benefit

The Co-operative Bank is set to continue de-risking pension schemes after it mitigated further losses by switching from the retail prices index (RPI) to the consumer prices index (CPI).

Universities Superannuation Scheme (USS) members should be responsible for most of the cost of increased contributions if the scheme's defined benefit (DB) section remains open to accrual, Pensions Buzz respondents say.

The debate around defined benefit (DB) pension transfers will "come to a head when the stock markets fall", according to a panel of retirement specialists.

BT and the Communication Workers Union (CWU) are said to be close to a deal over the closure of the telecoms company's defined benefit (DB) scheme.

Most schemes use a gilts plus discount rate for funding valuations. But, as Ben Gold explains, these can be poor predictors of scheme returns and explores three alternatives for trustees to consider.

The initial funding level test criterion for the new British Steel Pension Scheme (BSPS) have been "comfortably met", according to the trustee.

Strike action is set to continue at universities across the country after the University and College Union (UCU) rejected a negotiated deal to reform the Universities Superannuation Scheme (USS).

Defined benefit (DB) schemes saw a £21.1bn growth in their funding shortfall last month as both gilt yields and equities suffered falls, according to the Pension Protection Fund (PPF).

Universities UK (UUK) has come to an agreement with the University and College Union (UCU) over the future of the Universities Superannuation Scheme (USS), reducing entitlement but maintaining defined benefit (DB) accrual.

GKN's proposed merger deal with Dana means over two thirds of the group's gross pension liabilities will remain with the engineering giant, according to Melrose.