WALES - Cardiff University and the University of Wales College of Medicine will not combine their non-acedemic staff pension schemes when they merge next year.
Cardiff University rejected the move despite the potential cost savings.A spokesman for Cardiff University said: “The institutions intend that members of pension schemes will not be disadvantaged by the merger of the two institutions.”
The Cardiff University Pension Scheme and the University of Wales College of Medicine Superannuation Scheme will both remain open to new members.
Academic staff at both institutions are members of £20bn USS Pension Scheme.
Ex-BHS owner Dominic Chappell has been ordered to pay a total of £87,000 in fines and court costs after he was found guilty of failing to provide The Pensions Regulator (TPR) with information.
The Department for Work and Pensions (DWP) has said it while believes in the benefits of consolidating defined benefit (DB) schemes, there are significant issues to overcome.
There is just one week left to register to enter the Workplace Savings and Benefits Awards 2018.
Nearly a third (32%) of employers believe new technologies, such as augmented and virtual reality, will play a part in benefits communications, latest research from Aon Employee Benefits reveals.