Defined Contribution

Sales of enhanced annuities rose to £448m in the second quarter of this year, bringing the total sales in the first half of 2009 to £891m, Watson Wyatt research reveals.

Cuts in future annuity rates due to the adoption of the Solvency II rules for insurers would put further strain on defined contribution scheme members, Aon Consulting says.

The £330m Royal Borough of Kingston upon Thames Pension Fund has appointed eight managers to run its scheme.

Friends Provident has halted discussions on a take-over proposal by Resolution due to structural and governance concerns, the insurer says.

Senior finance executives at UK companies are less confident than their US and Canadian counterparts about accessing cash to fund retirement commitments over the next two years, Towers Perrin research reveals.

Defined contribution pension assets fell last month after three consecutive months of gains, Aon Consulting research reveals.

Barclays staff are to be balloted for industrial action over the company's plans to close its final salary scheme to future accruals.

The trustees of British Airways' defined pension schemes have agreed to release up to £330m in bank guarantees back to the airline.

One in five British workers has turned down a job because they felt that the benefits on offer, including pensions, were unattractive.

American Express has suspended company contributions to its UK pension plans in a bid to cut costs.