Defined Benefit

LV= chief executive Mike Rogers has announced his intention to step down after ten years in the role.

The biggest stories this week were backlash over Bentley's plans to pass NI costs onto DB members, Rothesay Life buying two-thirds of Aegon's bulk annuity book, and speculation over the future of the British Steel scheme.

Bentley Motors has been criticised over plans to pass £1.4m of national insurance (NI) costs onto the 1,300 members of its defined benefit (DB) pension scheme.

The number of defined benefit (DB) industry professionals has declined by just 4% over the past five years according to the Pensions Management Institute (PMI).

In his position as chairman of the Strategic Investment Advisory Board, Edmund Truell has been at the heart of Local Government Pension Scheme reforms. Here he discusses what the LGPS will look like in the future.

Marjorie Ngwenya has been appointed as president-elect of the Institute and Faculty of Actuaries (IFoA).

Hymans Robertson and Spence & Partners were among those to receive the Institute and Faculty of Actuaries' (IFoA) quality assurance scheme (QAS) accreditation.

The deficit of Tesco's defined benefit (DB) scheme has fallen by £1.6bn after reaching £4.2bn last year as the supermarket moves into the black.

The funding level of the 5,945 schemes in the Pension Protection Fund (PPF) 7800 index improved slightly to 81% by the end of March.

Bond allocations for defined benefit (DB) pension schemes in the FTSE 100 have soared from 49% to 59% of total assets in just six years.