Defined Benefit

Redrow has capped increases in pensionable salary for active members of the defined benefit section of its pension scheme.

The government must "build upon" restrictions on pensions tax relief to help those less well off, the Trades Union Congress says.

UK - The aggregate funding position of the 7400 defined benefit pension funds monitored by the Pension Protection Fund worsened to a deficit of £173.2bn in August.

Whitbread is set to close the defined benefit section of its group pension fund to future accrual at the end of 2009.

Scheme deficits increased in August following declines in corporate bond yields during the month, industry research reveals.

Balfour Beatty has announced plans to make further cuts to benefits paid under its defined benefit pension scheme in a bid to reduce its deficit.

FTSE100 firms are set to spend more on pension payments for past employees than current staff for the first time over the next year, KPMG research reveals.

Interserve is set to close its defined benefit scheme to future accrual for all non-passport members from the end of this year.

The aggregate funding position - total assets minus total liabilities - of defined benefit schemes improved by over £40bn over the last month, the Pension Protection Fund says.

Barclays could modify its plans to close its final salary scheme to future accruals in a bid to address the concerns of thousands of workers.