UK - HBOS has said it will pay £800m into its defined benefit pension schemes before the end of 2006.
The payment is a preliminary step in a 10-year plan announced last year to eliminate the IFRS deficit in the company’s DB schemes, which stood at £1.8bn as of 2004.
The company has pledged to pay an additional £1bn over the next five years. Halifax and Bank of Scotland merged to become HBOS in 2001.
By Lisa Haines
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.