Defined Benefit

BBA Aviation has revealed it has closed its UK defined benefit (DB) scheme to future accrual, following a consultation with members.

Trinity Mirror Group's defined benefit (DB) pension deficit has increased by £120.8m to £426m in the past six months, driven by a fall in long-term interest rates.

The Financial Assistance Scheme (FAS) service will close to new applications from pension funds on 1 September.

Total deficits of UK defined benefit (DB) schemes have reached an all-time high for the sixth month in a row, according to JLT Employee Benefits.

Any surplus funds the Pension Protection Fund (PPF) accumulates should not be returned to the levy payers who provided them, according to almost 60% of respondents.

The industry has come up with various ways to solve the numerous challenges faced by DB schemes. Kristian Brunt-Seymour examines responses to the DB Taskforce's call for evidence.

The Halcrow Pensioners' Association (HPA) has withdrawn its Upper Tribunal challenge of the Halcrow Pension Scheme restructuring after facing the threat of spiralling legal costs.

Aegon has agreed an annuity referral partnership with Legal & General (L&G) as part of the insurer's plans to stop writing all new annuities in the fourth quarter.

Club Vita has joined forces with Legal & General (L&G) to make longevity insurance solutions more accessible for smaller defined benefit (DB) pension schemes.

The Pensions Regulator's (TPR) inability to produce a report sooner based on its investigation into British Home Stores (BHS) is "disappointing" says MP Frank Field.