Investment

Defined benefit members are being left £2-3bn out of pocket every year as trustees and advisers fail to update the terms offered on tax-free lump sums at retirement.

The Government has issued a call for evidence after the Public Service Pensions Bill passed its second reading in parliament this week.

Employers will have more flexibility to leave the National Employment Savings Trust, under Department for Work and Pensions proposals.

Changes to HM Revenue and Customs guidance for those with fixed protection who are erroneously auto-enrolled have been welcomed.

Local authority pension funds should pool together and invest in housing and associated infrastructure, a report has said.

Debenhams will contribute £8.9m per year until 2022 in order to return its two funds to a fully funded position.

Jack Jones analyses the attempts by EIOPA to diffuse tensions over the latest EC pensions directive.

The government's proposed reforms to public sector pension schemes will cut the average benefit for members by more than a third, the Pensions Policy Institute says.

Top facts and figures from the Pension Protection fund report and accounts.

The Pension Protection Fund has seen its surplus rise to more than £1bn after achieving investment returns in excess of 25% in the year to March 2012.