UK - Ernst & Young has set up two defined contribution schemes for staff following the decision to freeze its final salary scheme.
The defined benefit scheme last year had an FRS17 deficit of £151.7m.
Staff at the accounting giant can choose between a DC plan, which offers an age-related contribution schedule with benefits linked to salaries or one which enables members to retain an earnings link with the DB plan.
A "substantial" parliamentary bill acting as a "roadmap" for the long-term future of private pensions will lead to a "significant period of calm", Guy Opperman has promised.
The Department for Work and Pensions (DWP) has completed its appointment process for the Single Financial Guidance Body's (SFGB) board, naming three non-executive directors.
Pensions and financial inclusion minister Guy Opperman has launched a simplified two-page annual statement in a bid to provide a best practice template for the industry.
Some 70% of defined contribution (DC) members want to know their scheme is personalised and tailored to their needs, an Invesco language study reveals.