Defined Benefit

Unfunded pension promises made to past and present UK public sector workers now amount to £993bn, Towers Watson calculations reveal.

UK - Unfunded pension promises made to past and present UK public sector workers now amount to £993bn (US$1.5trn), Towers Watson calculations revealed.

UK - The Pensions Regulator is appealing a court decision to stop its attempts to seek £2.1bn (US$3.2bn) from Nortel Networks on behalf of the struggling UK pension scheme.

The National Association of Pension Funds is set to launch a major review into the standards used for accounting for pensions.

More than two-thirds of contractors who take on outsourced local authority services are unaware of potentially crippling pensions costs at the end of their contract, Punter Southall research reveals.

Costain has announced it has closed its defined benefit pension scheme to future accrual in a bid to reduce risk and volatility.

Proposed changes to international accounting standard IAS19 could wipe £8.7bn off reported company profits, Mercer warns.

Taylor Wimpey has announced it is consulting with members of the George Wimpey Staff Pension Scheme about closing the scheme to future accrual.

UK - ITV has reported gains totalling £110m (US$165.4m) from initiatives aimed at reducing the future costs and risks of operating its pension schemes.

ITV has reported gains totalling £110m from initiatives aimed at reducing the future costs and risks of operating its pension schemes.