UK - Only 27% of FTSE 350 directors are accruing only defined benefit (DB) pension benefits, a recent Watson Wyatt survey has found, showing the decline of DB has now hit the boardroom.
Stephen Green, a senior consultant at Watson Wyatt, commented on the findings: "Whether they are thinking about the shop floor or the boardroom, employers increasingly want certainty about how much pensions are going to cost.
"Although the cash allowances that many directors receive sound impressive, they fall short of traditional gold-plated executive pensions, and this is particularly so in FTSE250 companies."
Johnson Controls International has appointed XPS Pensions as investment and actuarial adviser for two of its schemes, following a competitive tender process.
Merseyside Pension Fund has allocated an initial £400m of assets to a smart sustainability fund managed by State Street Global Advisors (SSGA).
This week's top stories included exclusive coverage of The Pensions Regulator's plans to require schemes to use professional trustees.
Buck has launched a solution to help pension schemes equalise guaranteed minimum pensions (GMPs) in a cost effective way with minimum hassle.