Defined Benefit

A proposed cap on redundancy payoffs in the public sector could limit early pension payments from the local government pension scheme (LGPS).

Schemes have been warned against expecting a rate rise this year after just one of the Bank of England's (BoE) Monetary Policy Committee (MPC) members voted for an increase this month.

The number of transfer value requests in defined benefit (DB) schemes doubled from January to July this year according to research from Xafinity.

Barnett Waddingham and the Chartered Institute of Public Finance & Accountancy (CIPFA) have partnered to provide support and training for pension board members in the local government pension scheme (LGPS).

Individual annuity sales at Legal and General (L&G) have fallen by more than half this year, and its bulk annuity business has failed to pick up the slack, figures show.

The accounting deficits of the UK's biggest pension schemes rose by 17% last month, according to research from Mercer.

Over a third of large defined benefit (DB) pension schemes will quote members' transfer values on their retirement statements in light of the pension freedoms, according to research.

Transfers could make existing strategies unsuitable

The rise of academies coupled with smaller council budgets is changing the make-up of the LGPS's employer base. Stephanie Baxter finds out it is posing major long-term challenges.

Two trade unions have called for Nestle to put on hold plans to close its career average defined benefit (DB) scheme until its actuarial valuation in December.