Defined Benefit

Defined benefit (DB) pension schemes are more satisfied with their investment consultants (83%) than defined contribution (DC) plans (79%), according to the National Association of Pension Funds (NAPF).

The number of active members of defined benefit (DB) schemes who have contracted out of the additional state pension fell between 2008 and 2012, says the Office for National Statistics (ONS).

British Polythene Industries (BPI) is to restructure a property-backed funding partnership with its scheme after an intervention from the Financial Reporting Council (FRC).

London Borough of Croydon Pension Fund has reappointed BNY Mellon as custodian.

The Pensions Regulator (TPR) has defended its draft guidance on defined benefit (DB) funding after the Trades Union Congress (TUC) and Confederation of British Industry (CBI) criticised the code.

The National Union of Journalists (NUJ) will appeal the Pensions Ombudsman's (PO) decision that the BBC did not breach its implied duty when putting in place an annual pensionable pay cap of 1%.

The introduction of the flat-rate state pension will result in 'unintended consequences' for public sector pension schemes, the Local Government Association (LGA) warns.

The trustees of the Dynochem UK Pension Scheme have concluded a £15m buyout of pensioner liabilities and 100 members with the Pension Insurance Corporation (PIC).

Global firms may be underestimating their defined benefit (DB) liabilities by "tens of billions of euros" because of differing longevity across the countries in which they operate, LCP warns.

Trustees should explore reshaping benefit structures before entering into a buyout to avoid paying over the odds for inflation hedging, say consultants.