UK - J. Sainbury's Pension Fund is considering a complete buy out of Equitable Life AVC funds of more than 2500 of its members.
Sainsbury said trustees have experienced difficulties obtaining payment from Equitable Life on individual AVCs.
J. Sainsbury’s pensions manager Geof Pearson said: “Equitable Life apologised at last month’s AGM, but because of the amount of enquiries they are receiving, their administration is not coping at an efficient service level and we are finding the delays unacceptable.”
Sainsbury has commissioned a report to help its Equitable Life members appraise the situation.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.