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."
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
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.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.