Defined Benefit

National Grid UK Pension Scheme has handed Legal and General Investment Management (LGIM) a mandate to manage £13bn of assets after selling its in-house manager to the firm.

Lawyers have warned that defined benefit (DB) schemes face unnecessary extra VAT charges unless HM Revenue and Customs (HMRC) makes it less complicated for them to reclaim tax.

GMB will ballot utility workers for strike action on the 21 September in a dispute with Northumbrian Water over proposals to axe the final salary scheme.

The increasing cost of servicing its £1.2bn pension shortfall helped push pre-tax profits at John Lewis down over a quarter in the first half of the year.

Age Partnership has launched a service to gather member information for schemes exploring a medically underwritten bulk annuity deal.

Anna Rogers - the former Mayer Brown partner who co-founded ARC Pensions in June - hopes her new boutique pensions law firm will expand to 20 lawyers.

Better comms could ensure the £20bn spent on DB each year isn’t wasted

Three unions are prepared to ballot 1200 members of 1600 workers at Northumbrian Water and Essex and Suffolk Water over proposals to axe the company's final salary scheme.

LV= is launching a toolkit intended to help members in defined benefit schemes (DB) understand their options at retirement in light of freedom and choice.

PP research finds the industry bullish