Defined Benefit

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.

The Pension Protection Fund has confirmed the method trustees must use to calculate guaranteed minimum pensions for schemes transferring into the lifeboat fund.

Concerns have been raised that the monitoring of incentive exercises will be based only on anecdotal evidence, whistleblowing and self-reporting.

Local government pension schemes sometimes show "inconsistencies" in their valuations, Bob Holloway, head of the LGPS2 Division at the Department for Communities and Local Government says.