Defined Benefit

Closing the Universities Superannuation Scheme (USS) to future accrual would have "serious consequences" and alternative approaches should be explored, the University of Warwick's vice-chancellor has said.

Actuaries and investment consultants that fail to take account of climate risk in their work and advice face increasing risks of legal liability and regulatory action, according to ClientEarth.

Michael Klimes asks if the proposal to close USS to future accrual is realistic

Transport operator FirstGroup has consolidated its pension scheme assets within the Local Government Pension Scheme (LGPS) in what is believed to be the first move of its kind.

Lemonade Reward has set up an advisory service for defined benefit (DB) transfers after its research found many members lack access to good advice and information.

There has been a huge rise in the number of DB to DC transfers since 2015. Stephanie Hawthorne looks at how demand is changing and what these changes mean for schemes.

Hymans Robertson has launched a tool to help schemes more easily assess their readiness to complete a buy-in and the benefits this could bring.

Universities UK (UUK) has proposed ending future accrual of defined benefit (DB) promises and transferring members to the existing defined contribution (DC) plan.

The Communication Workers Union (CWU) has said it will urge its members to reject BT's proposals for its pension funds, which includes closing the defined benefit (DB) scheme.

The aggregate deficit of the UK's defined benefit (DB) schemes fell by £8.2bn over October, with 49 schemes moving into surplus, according to the Pension Protection Fund (PPF).