Defined Benefit

Contractors may have to pay final salary benefits to former public sector workers despite local government pension scheme (LGPS) reforms, a lawyer warns.

The UK Coal scheme is in danger of falling into the Pension Protection Fund as its sponsoring employer is seeking a voluntary liquidation, according to reports.

Home Retail Group has closed its defined benefit scheme to existing members after its latest triennial valuation revealed a £158m deficit.

National Grid has confirmed it is reviewing its two defined benefit pension schemes in an attempt to control the cost of future accrual.

Lloyds Banking Group has taken a £2.1bn hit to its balance sheet after adopting revised accounting standards for its pension scheme 12 months early.

Whitbread has increased the value of its asset-backed funding arrangement with its pension scheme to continue tackling its deficit, its latest results show.

Eastman Kodak is to hand over part of its business to the trustees of its UK scheme in a deal that will release the company from a $2.8bn (£1.8bn) claim to support the underfunded scheme.

The impact of quantitative easing on pension scheme funding levels is diminishing with every new round of monetary stimulus, JP Morgan Asset Management says.

Local government pension scheme (LGPS) deficits are estimated to have doubled since 2010 to over £80bn, according to KPMG analysis.

Trustees are concerned over the strength of their employer covenant and feel contributions could be higher, research from Baker Tilly shows.