UK - Trinity Mirror is increasing contributions into its Midlands Independent Newspapers Pension Scheme from 12% to 14%.
The rise follows recommendations from the final salary scheme’s trustee board that employer contributions should rise to 13.8%.
A Trinity Mirror spokesman said: “The reason for the increase is that the investment returns are not as good as one would have hoped, but that has no effect on the funding. The scheme is in line with minimum funding requirements.”
Trinity’s combined deficit on its three final salary schemes – which have assets of just under £1bn – have grown from £84.1m to £120.1m this autumn.
A recent review of Trinity Mirror’s pension arrangements resulted in the company announcing the closure of its three schemes to new members from the beginning of next year.
The newspaper publisher blamed the closure on increasing life expectancy and the “volatility of stock markets”.
Most people think it is right that savers take responsibility to protect from pension scams.
More than 100,000 savers face being landed with huge tax bills following tiny uplifts to their pension, a Freedom of Information (FOI) reply has revealed.
On balance the asset class is well-positioned for 2019, according to Eaton Vance