US - The International Brotherhood of Teamsters Union has extended its pensions agreement with shipping and delivery company UPS for a further five years, following ratification by members.
To this end, UPS has agreed to make a one-off pre-tax payment of US$6.1bn to the Central States plan on 26 December to cover the costs of its withdrawal from the scheme.
Other details of the agreement include wage increases and increases to healthcare and pension plan payments.
The deal was initially reached in October before being put out to members for discussion and approval. Last month, a majority of 65% of members voted in favour of accepting the arrangement.
Some 56% of defined contribution (DC) asset managers do not believe they will have transaction cost information in time for pension funds' March year-end statements, according to Lane Clark & Peacock (LCP) research.
NEST has appointed Clive Elphick, Martin Turner, Mutaz Qubbaj and Chris Hitchen as trustee members of its reshaped board.
Most people want to avoid investing in projects that contribute to climate change, and would consider moving to another less-exposed provider, according to a survey commissioned by ClientEarth.
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.