Defined Benefit

Government proposals to scrap restrictions on pensions access could lead to a further wave of employers closing defined benefit (DB) plans to future accrual.

The Pension Protection Fund has delayed the implementation of its new tailored insolvency model until October - saying further work was needed to integrate scores into the levy framework.

Naomi Rainey sums up the LGPS position as the new scheme takes effect

The government will ban public sector workers from transferring pension pots to defined contribution (DC) arrangements and is considering similar restrictions on private sector schemes, it has announced.

Employers participating in the NHS, Teachers and Civil Service pension schemes will face higher contributions from 2015, chief secretary to the Treasury Danny Alexander has confirmed.

The London Pension Fund Authority (LPFA) has launched a risk-based employer contribution assessment for Local Government Pension Scheme (LGPS) funds.

Low cost supermarket Morrisons' net pension liabilities almost halved from £20m to £11m over the 12 months to February 2014.

The combined deficit at UK schemes shrunk by 20% last month, according to figures from the Pension Protection Fund (PPF).

Lloyds Banking Group (LBG) has confirmed it will scrap pensionable pay increases in its defined benefit (DB) schemes from April, netting a one-off saving of £1bn.

PwC has added two partners, Julia Dickson and Gavin Stoner, to its employer covenant assessment team, taking its number of staff to 50.