UK - The House of Lords has rejected KPMG's claim that it was not obligated to meet its pensions shortfall because it was a money-purchase (DC) scheme.
The ruling will come as welcome news to members of the KPMG scheme, as it means KPMG has a statutory obligation to fund the deficit in the DB scheme.
The House of Lords rejected KPMG's application for permission to appeal from the Court of Appeal's judgement, and decided the appeal did not raise an arguable point of law of general public importance, meaning the case has finally reached conclusion after three years.
The City law firm Pinsent Masons acted for the pensioners of the scheme, following High Court and Court of Appeal proceedings to establish whether it was a DC or DB scheme.
The Court of Appeal also held in favour of the pensioners in finding that the rules of the scheme did not allow pensions in payment to be reduced, overturning the High Court's decision on this point.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers