Defined Benefit

The UK's 5,945 defined benefit (DB) schemes had a £306bn surplus under realistic investment return assumptions by the end of October, according to First Actuarial.

Legal & General has completed a £1.1bn pension buyout for the Vickers Group Pension Scheme which is part of the Rolls-Royce Group.

Aon Hewitt has been appointed fiduciary manager by the Sevcon Limited Pension Plan.

Granting discretionary increases was not necessarily precluded by the scheme being in deficit, the Airways Pension Scheme (APS) actuary has said in the landmark High Court case.

Tata Steel UK's intention to close the British Steel Pension Scheme (BSPS) to future accrual has been "raised" in discussions with unions, according to a lawyer close to the matter.

Sainsbury's has seen the shortfall of its defined benefit (DB) scheme increase to £1.1bn by 24 September following a "significant" fall in discount rates.

Company adviser modelling of the Airways Pension Scheme (APS) funding position would have allowed for discretionary increases if adopted, British Airways (BA) has admitted.

The ICI Specialty Chemicals Pension Fund has completed a buy-in worth nearly £140m with Pension Insurance Corporation (PIC).

Marks and Spencer's (M&S) decision to close its defined benefit (DB) scheme to future accrual from April 2017 has resulted in a £127m charge.

The aggregate deficit of all schemes in the PPF 7800 index fell for a second month in a row on the back of rising gilt yields.