Defined Benefit

Jack Jones tracks the rise of online valuation tools

A pensioner in the Airways Pension Scheme (APS) has won a default judgment against British Airways (BA) to cover losses after the scheme downgraded inflation protection.

KPMG has launched an online platform that lets trustees and scheme sponsors monitor funding levels and analyse risk in real time.

Engineering firm Babcock International Group has seen a six-month £212m spike in its defined benefit (DB) deficit despite using a higher discount rate, its half year report shows.

Government proposals will leave firefighters retiring before aged 60 due to fitness on just over £9,000 a year, the Fire Bridges Union (FBU) claims.

FTSE350 companies' defined benefit (DB) scheme deficits increased by £6bn over October to hit £102bn on an IAS19 basis, despite rising asset values, Mercer says.

Just over half this week's respondents said a merger of the Local Government Pension Schemes (LGPS) was feasible, while one in eight said the proposal was impractical.

The majority of contributors said trustees were generally using the flexibility in the system when setting assumptions for valuations.

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.