Defined Benefit

As deficits soared following the Bank of England's rate cut and stimulus package, the future for DB looks even more challenging. A major re-think is needed to avert a pensions crisis, writes Stephanie Baxter

Amec Foster Wheeler has merged its two main defined benefit (DB) schemes into a defined contribution (DC) arrangement after closing the biggest fund to future accrual.

Defined benefit (DB) pension schemes could have access to much-needed cash flow through a short-term equivalent of a buy-in service, according to PwC.

The liabilities of defined benefit (DB) pension schemes continued to increase last month amid further falls in yields, according to the Pension Protection Fund's (PPF) 7800 Index.

Defined benefit (DB) deficits at FTSE350 companies have swelled by £34bn since 2010 despite £15bn being paid into them annually.

The Work and Pensions Committee (WPC) has launched an inquiry into the regulation of defined benefit (DB) pension schemes.

A Lloyds Bank union is taking legal action to close the pay gap between men and women who took out guaranteed minimum pensions (GMPs).

Royal Bank of Scotland's (RBS) defined benefit (DB) pension scheme has reached 120% funding after the bank made a big cash payment to plug its deficit hole.

Defined benefit liabilities have risen by an eye-watering £70bn on the back of the Bank of England's (BoE) decision to cut interest rates and launch a new round of quantitative easing (QE).

Damning research by the Pensions Institute has uncovered a number of ways by which sponsoring employers can shed or avoid their defined benefit (DB) deficits.