Investment

Naomi Rainey examines the latest thinking on short-termism

The Pension Protection Fund has updated its Statement of Investment Principles to expand the range of asset classes it can invest in.

Marks and Spencer will halve annual contributions to its defined benefit scheme from £60m to £28m over the next three years, after its deficit shrunk to £290m.

Aga Rangemaster has secured a £60m refinancing deal after agreeing a recovery plan with trustees that has seen it pump £16m into its scheme this year.

The Mitchell & Butlers scheme deficit has increased from £37m to £88m from 2011 despite increases in asset value and employer contributions.

The £13m Ring pension scheme has entered the Pension Protection Fund, after trustees and advisers whittled down a list of over 40 companies to just four sponsors and triggered their insolvency.

Scheme sponsors are facing growing pressure to make higher contributions at the same time as their ability to support defined benefit obligations remains depressed, warns PwC.

Listen to our latest Pensions Conjecture debate on Auto-enrolment.

Excessive risk in UK pension schemes could lead to a wave of company defaults once the economy recovers, according to Towers Watson.

The Pension Protection Fund has appointed seven fund managers to look after its farmland and timberland portfolio.