Defined Benefit

FTSE250 IT services provider Computacenter has reached an agreement with the Communication Workers Union over scrapping the firm's dependents death in service pension benefit.

UK pension funds finished 2012 in slightly better health than they began the year after a rise in asset values pushed average funding ratios to 90%, according to JLT Pension Capital Solutions.

The government will consult on excluding local councillors from the local government pension scheme in a bid to save £7m per year.

Pension Insurance Corporation founder Edmund Truell has been appointed as the chairman of the London Pensions Fund Authority.

The Department for Work and Pensions has launched a consultation on giving more flexibility to pension scheme members whose scheme enters the Pension Protection Fund.

The Pension Protection Fund has announced that the levy estimate will be £630m with fewer schemes having their levies capped.

The European Insurance and Occupational Pensions Authority has warned of a "worrying decrease" in the funding provisions within defined benefit schemes in the UK.

The trustee of the £1.8bn Rexam Pension Plan has appointed Towers Watson's Colin Singer as scheme actuary.

Pension Corporation has reinsured a further £400m tranche of longevity risk associated with its policy holders with Munich Re.

The exclusion of the new Fair Deal policy from the Public Sector Pensions Bill risks reopening pension disputes with public sector workers, Labour MPs warn.