Defined Benefit

Solvency II-style capital requirements for schemes could cost employers £350bn, cut 180,000 jobs from the economy and reduce the value of pensions warns the Confederation of British Industry.

Two doctors and their accomplice have been banned from acting as directors of a company for more than 14 years for failing pay almost £700,000 in staff pension contributions to their scheme.

More than £900m bulk annuity transactions were agreed between July and September 2012, bringing total business to £2.5bn in the year so far.

Cumbria City Council has awarded the £130m fixed income mandate of its pension scheme to Standard Life Investments.

Trade bodies have balked at the prospect of an increase in the Pension Protection Fund compensation cap, arguing the cost will be passed onto schemes and employers.

FTSE350 defined benefit deficits have risen 11% over November but funding ratios remains stagnant at 90%, a Mercer survey shows.

The UK Coal pension schemes have taken a controlling stake in a property business that was split off from the scheme's sponsoring employer in an attempt to plug a £450m deficit.

The Department for Work and Pensions will review the Pension Protection Fund compensation cap over fears long-serving workers are receiving "penal" treatment.

The Pensions Policy Institute has rejected criticism of its methods used for calculating the effect of planned changes to public sector pensions.

Tate & Lyle has secured a £347m buy-in with Legal & General to cover 43% of its pensioner liabilities, in the biggest bulk annuity deal of the year.