Defined Benefit

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).

Defined benefit (DB) transfer values stayed fairly steady over October, rising from £230,000 to £231,000 by the end of the month, according to Xafinity.

Builders merchant JT Dove has slashed its forecasted defined benefit (DB) deficit by 11% after completing a medical underwriting study.

HM Revenue and Customs (HMRC) has published an internal manual on how value-added tax (VAT) should be calculated for defined benefit (DB) occupational pension schemes.