UK/US - US-based technology firm Zarlink Semiconducter is spending £4m winding up its UK DB pension scheme.
The company decided to wind up the Mitel Semiconductor Pension Plan in a bid to cut costs across its UK operations.
The wind-up is being administered by Towers Perrin.
The scheme’s 710 members will now be offered access to a DC plan. Zarlick has factories and offices in Swindon, Lincoln, Plymouth and Caldicot.
PP has compiled a list of what to watch out for over the coming months.
The Pensions Regulator (TPR) spent just under £60,000 on a rebrand, including the design of a new logo and implementation of a refreshed colour scheme, Professional Pensions can reveal.
In this week's Pensions Buzz, we want to know whether or not you believe default decumulation pathways are a good way to tackle members' confusion at retirement.
The increase in minimum auto-enrolment (AE) contributions has had little impact on opt-out rates - with cessations after April increasing by less than two percentage points, data from The Pensions Regulator (TPR) shows.