UK - Employees of small to medium-sized firms will receive pension increases worth £2bn over the next three years, according to research from Virgin Money.
The financial services company’s Workplace Survey revealed small to medium-sized companies are currently paying 5.3% of staff salaries into pension schemes but that this is expected to rise to an average of 6.4% by 2005.
The Pension Protection Fund (PPF) is consulting on proposals to charge a "risk reflective" levy for commercial defined benefit (DB) consolidation vehicles.
The funding gap across FTSE 350 schemes could be slashed by as much as £275bn if schemes look beyond traditional ways of creating value. Victoria Ticha examines how
There will be "many flavours" of defined benefit (DB) consolidators but consolidation will only be the right answer for a minority of schemes, Alan Rubenstein says.
Work and Pensions Committee (WPC) chairman Frank Field has questioned the regulator on what lessons it can learn from the experience of the Kodak Pension Plan No.2 (KPP2).