Defined Benefit

Wincanton is closing its defined benefit (DB) schemes to existing members, 11 years after shutting its doors to new members.

The Tate & Lyle Amylum UK Pension Scheme has agreed an £82m buy-in to cover all liabilities relating its pensioner and deferred members.

Strong asset returns particularly from its bonds and cash allocation sees Dairy Credit reduce its deficit by £38m, its interim results show.

Over two-fifths of schemes never review the performance of their trustees, a Premier survey has found.

Sponsoring employers have been urged to apply pressure on trustees to make sure the full flexibility allowed in actuarial valuation assumptions is used, advisers say.

Lloyds Banking Group (LBG) is consulting with scheme members on removing pensionable pay increases for active members of its defined benefit (DB) schemes.

Credit agency Experian has seen its IAS19 defined benefit (DB) surplus shrink after volatility in the discount rate used to calculate liabilities, its half year report shows.

Deutsche Bank has launched a range of longevity indices it says will enable schemes to hedge longevity risk more quickly and cheaply.

National Local Government Pension Schemes (LGPS) Frameworks is about to launch a structure for global custody services.

Around 50 pensioners have filed cases with the small claims court against British Airways (BA) over changes to the Airways Pension Scheme's (APS) inflation protection.