UK - Weir Group, a FTSE250 listed pumps manufacturer, has sold part of its pension plan to insurance provider Legal & General (L&G).
Weir will continue to run the pension fund and provide contributions for workers yet to retire.
In a bid to reduce scheme liabilities calculated under accounting regulation FRS17, it has become increasingly popular for large funds to sell of the liability portion of their pension schemes in order to make it easier for the scheme to be in surplus.
Last week, Global Pensions reported that shipping company P&O had sold its pension liabilities to specialist pension buy-out group Paternoster in a deal worth £800m (US$1.6bn).
In mid-November, Paternoster also secured £170m (US$340m) of liabilites from publisher Emap Earnings Related Pension Plan (EERPP) and the Scottish Radio Holdings (SRH) Pension Scheme.
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.