The trustees of the WYG scheme have agreed with the sponsor to de-risk its remaining liabilities with the aim of reaching a full buyout next year.
The majority of people that work in pension schemes expect at least four in five defined benefit (DB) funds to meet all of their obligations in full, according to research from PP.
New thinking is needed for the new world trustees face
Inflation continues to hover around zero according to Office for National Statistics (ONS) figures, meaning interest rates are likely to remain at historic lows well into 2016.
The time has come for DB schemes to approach liability management differently
The Pensions Institute has called for urgent action after its research found one in ten defined benefit (DB) schemes would "never ever" pay benefits in full.
The rate of defined benefit (DB) scheme closure among FTSE 100 companies is gathering pace, according to research by JLT Employee Benefits.
The biggest stories on PP this week include AMNT launching its red lines initiative to give trustees more voting power and HSBC slashing 'pension' payouts for top executives. Here are the top five
Workers at EDF Energy have backed a deal negotiated by GMB and Unison which allows new entrants access to a defined benefit (DB) pension scheme.
The last 12 months could set the scene for more upheaval