Defined Benefit

DCLG's proposals for the future of the LGPS fall flat, Naomi Rainey says

Naomi Rainey looks at the government’s latest consultation on the LGPS

Trustees of the RetailLink Management Limited pension plan have put in place a deal to buy out the £35m scheme over the next four years.

The Fremantle Group Pension Plan has completed a buy-in with Pension Insurance Corporation (PIC) to cover approximately £47m of deferred and pensioner liabilities.

The Department for Work and Pensions (DWP) has opened a consultation on proposed changes caused by the abolition of contracting out of the additional state pension by defined benefit (DB) schemes.

Imperial Tobacco has agreed a £65m-a-year recovery plan, to eliminate the deficit of the Imperial Tobacco Pension Fund by March 2028.

The combined deficit of schemes at FTSE 350 firms climbed to £111bn in April as falling bond yields and rising inflation expectations cancelled out stock market gains, says Mercer.

The government has ruled out merging council pension funds in favour of promoting common investment vehicles for the Local Government Pension Scheme (LGPS), in an effort to save £660m annually.

The newly privatised Royal Mail has the best funded scheme on the FTSE 100 according to research from JLT.

The Merchant Navy Officers Pension Fund (MNOPF) is winding up its investment committee as part of an overhaul of its governance structure.