UK - Trinity Mirror has announced a £175m (US$350m) share buy-back scheme which will return capital to shareholders as part of the group's large scale reorganisation of its business.
A spokesperson for the Pensions Regulator said the clearance process was often a formality whereby parties seek reassurance that the regulator would not seek to use its powers against them in the future. Due to the sensitive nature of the proceedings, the regulator could not offer any more specific details.
Changes to pension plans across the media have been attracting attention recently. Last Thursday, in a Parliamentary Early Day Motion, Austin Mitchell, MP (Labour) for Grimsby, criticised publisher and distributor Newsquest for undermining the integrity of its pension scheme by forcing the savings burden onto its 9,000 members despite posting a profit of over £120m (US$240m) last year. The motion was supported by a cross-party group of 30 MPs.
This week's top stories included the 'Buck' name being revived as Conduent sold off the HR consulting business to a private equity investor.
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.