Defined Benefit

The combined pensions deficit of the UK's biggest companies has remained broadly unchanged over the last 12 months according to figures from JLT Employee Benefits (JLT EB).

HM Revenue and Customs (HMRC) has amended its value added tax (VAT) rules to allow defined benefit (DB) sponsors to reclaim input tax in some circumstances.

Mitie Group is consulting with members of its main defined benefit (DB) scheme over a proposed change to their future pension entitlement.

The BT Group pension scheme's deficit hit £7.3bn gross of tax after an increase in market inflation expectations.

John Lewis is proposing to cut its defined benefit (DB) pension scheme and introduce a hybrid scheme with an extended defined contribution (DC) structure.

Mortality rates in England and Wales were higher than expected in 2013 as the number of deaths registered exceeded 500,000 for the first time in five years.

Unite is balloting more than 5,000 Ford workers over strike action in a row over job security and pensions.

Premier plans to expand into the provider market by launching a multi-employer defined benefit (DB) scheme and a defined contribution (DC) master trust in March this year.

Lloyds Trade Union (LTU) members have voted in favour of a ballot on industrial action should Lloyds Banking Group (LBG) freeze pensionable pay increases.

Nine out of 10 respondents said public sector schemes would still be with us in a decade, although the majority of those thought they would be significantly changed.