UK - Increased pension costs were partly blamed for a 32% drop in profits at confectionery giant Cadbury Schweppes.
But the firm said it had no plans to make any cutbacks at the £1.27bn Cadbury Schweppes Pension Fund.
A spokeswoman said the £10m deficit across its global pension funds was like a “drop in the ocean”. She said: “This is not a significant issue for us. We are confident any deficit in the funds or additional costs will be absorbed through our profit and loss account.”
Newton Investment Management's series of DC columns continues with Gerald D Rehn of BNY Mellon forecasting innovation in the market
Pension Insurance Corporation (PIC) has agreed to a 30 year debt investment in Phoenix Community Housing, a not-for-profit, resident-led housing association in London.
Royal London has announced plans to allow customers with guaranteed annuity rates (GARs) to convert their guarantees into a top-up for their pension pot, subject to High Court approval.
The Salvus Master Trust will welcome another 1,200 members and 20 employers as it absorbs the £7m Complete Master Trust.