UK - The Pensions Regulator has stepped in to resolve a battle between EMI Group's pension trustees and new owner Terra Firma Capital Partners.
The regulator has confirmed it became involved after the trustees of the scheme sent a letter to members last week stating that they had failed to agree on the funding level of the scheme.
The two sides could not reach an agreement over the level of contributions by the private equity firm which bought EMI earlier in the year.
The Pension Regulator explained it would get both sides involved in negotiations and it had the power to put a funding plan in place if necessary.
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.