Defined Benefit

Tata Steel UK has agreed with unions to start consulting on closing the British Steel Pension Scheme (BSPS) and replacing it with a "competitive" defined contribution (DC) arrangement.

Private sector defined benefit (DB) schemes have seen a significant increase in running costs per member since 2015, according to the Pensions and Lifetime Savings Association's annual survey.

Airways Pension Scheme (APS) trustees' misunderstanding of the purpose of a defined benefit (DB) scheme was not consistent with regulation and produced "absurd results", British Airways' (BA) lawyer has told the High Court.

Members of the Universities Superannuation Scheme (USS) have relaunched their campaign pressing trustees to ditch weapon investments, arguing they need a "pension to be proud of".

Private sector defined benefit (DB) schemes saw a small improvement in their funding ratios in November after a year of market turmoil.

The Pension Protection Fund (PPF) has put into effect changes to actuarial assumptions used in sponsor insolvencies and to calculate risk-based levies.

John Stannard offers a view on establishing whether fiduciary management is the right approach for a scheme.

The Department for Work and Pensions (DWP) will issue a green paper on the future of defined benefit (DB) schemes in early 2017, the pensions minister has confirmed.

A quarter of schemes may see no improvement in deficits in 20 years because many are still not integrating long-term covenant risk, according to research.

The Go-Ahead Group has announced it is revising the accounting policy for its rail pension schemes.