Defined Benefit

Standard Life has announced it is closing its defined benefit (DB) scheme to future accrual from April 2016.

Tanjil Rashid looks at how schemes are preparing for the end of contracting out

Standard Life has announced it is closing its defined benefit scheme - currently used by 55% of its employees - to future accrual from April 2016.

The Pension Protection Fund (PPF) will relax the tough stance it intended to take on non-property asset backed contributions (ABCs) after concluding a consultation on changes to its levy, PP understands.

A High Court judge has criticised British Airways (BA) for leaving the trustees of its pension scheme at risk of bearing the defence costs of an ongoing court case.

Pension deficits at the country's biggest firms rose in August as schemes continue to suffer the effects of historic low interest rates, research finds.

The Universities Superannuation Scheme (USS) has warned that it faces a difficult investing environment, despite increasing its funding ratio from 77% to 85% over the year to March.

The Co-operative Group has increased annual deficit contributions and made a one-off £30m payment to its scheme following the disposal of several parts of its business.

Pension fund trustees are increasingly responsible for managing risk, but lack the skills to do, according to research by a pension consultancy.

The Royal Bank of Scotland (RBS) Group Pension Scheme says its in-house investment team has generated an extra £1.1bn in value over the last four years.