Defined Benefit

Gilt yields buck the trend of previous months and fall during July increasing UK corporate deficits by £50bn, research from Xafinity finds.

Consumer packaging firm Rexam has seen its UK defined benefit (DB) pension scheme move from deficit to surplus in the first half of the year, its interim results show.

Lloyds Banking Group (LBG) has seen its defined benefit (DB) schemes move to surplus after substantial asset gains in the first half on 2013, its interim results show.

Sponsoring employers who use spare cash to reduce scheme deficits could see a huge hike in their scheme's Pensions Protection Fund (PPF) levy as a result, warn consultants.

DHL is proposing to close its final salary pension scheme at the end of the year and has yet to guarantee the future of its highest contribution defined contribution (DC) offering.

Diageo saw the deficit in its UK and Ireland defined benefit schemes fall from £1.1bn to £552m over the year to the end of June.

Taylor Wimpey has been given approval to merge its two principle defined benefit (DB) schemes and has set up a £100m partnership to plug their deficits.

Revisions to the accounting standard used for employee benefits have reduced BP's profits by more than $1.27bn (£830m) over the last 18 months, its interim results reveal.

The Local Government Association (LGA) Conservative and Labour groups have backed retention of councillor access to the Local Government Pension Scheme (LGPS).

BMW Group UK is consulting about closing its final salary defined benefit (DB) scheme to new members, amid rows with unions.