UK - Car manufacturer Nissan will give its UK employees a choice of pension provision from September. Staff choosing to stay in the final salary scheme will be able to retain current benefits by paying a slightly higher contribution rate or maintain contributions and accept a change in accrual rate.
Alternatively, employees can join a new DC scheme from August 1.
The Pensions and Lifetime Savings Association (PLSA) is in the process of convening an industry-wide group to take forward the work of the Institutional Disclosure Working Group (IDWG).
The Transfers and Re-registration Industry Group (TRIG) has given its support to an initiative which aims to complete occupational pension transfers within three weeks.
Scottish Widows has completed a bulk annuity deal for the Hitachi UK Limited Pension Scheme.