Defined Benefit

The Pension Protection Fund (PPF) will seek to collect £550m in levies from the industry in the 2018/19 tax year, it has announced, down more than 10% from 2017/18.

Consolidating defined benefit (DB) schemes could give members greater security and lead to more affordable benefits, the Pensions and Lifetime Savings Association's (PLSA) taskforce has said.

BT is seeking to switch indexation for the final section of its scheme in order to stem a ballooning deficit.

A panel at this year's Trustee Senate discussed strains in the DB system and what can be done about them. Michael Klimes reports

British Airways (BA) has proposed a 'flexible' company-wide scheme as it continues to consult on closing its defined benefit (DB) New Airways Pension Scheme (NAPS).

Over 50 academics in the Universities Superannuation Scheme (USS) have urged the fund's trustees to explain calculations used to calculate its deficit.

Over half of employers believe the need to fund defined benefit (DB) schemes is affecting their ability to improve employee pay, a survey by the Association of Consulting Actuaries (ACA) has found.

Steve Webb says as schemes may have to invest in systems to generate regular transfer values, offering valuable partial transfers shouldn't be too burdensome.

The Communication Workers Union (CWU) has proposed a major shake-up of its defined benefit (DB) provision, despite threatening industrial action at Royal Mail for planning similar changes, PP can reveal.

Paul Masterton MP disagrees there is no affordability problem in DB schemes, and calls for a statutory override to allow trustees to switch to CPI