The Wiltshire-based Cooper-Avon Tyres company has appointed investment house Aegon Asset Management to handle a £25m fixed income mandate for its pension plan.
Edinburgh-based Aegon’s brief is benchmarked against a mixture of corporate gilts and index-linked gilts.
It is believed that the fund has been shortlisted for another two £100m corporate bond mandates.
By Madhu Kalia
Enhanced powers for The Pensions Regulator (TPR) to prosecute and fine company directors who "wilfully or recklessly" put their defined benefit (DB) pension scheme at risk will be hard to enforce, commentators say.
Melrose has pledged to contribute up to £1bn to GKN's pension schemes as part of a final offer to acquire the engineering business.
Existing master trusts will be forced to pay £41,000 when applying for authorisation under the upcoming regime, the government has confirmed.
UPDATE 2 - DWP publishes DB white paper: Stronger powers for TPR, DB chair statements to be introduced
The Pensions Regulator (TPR) will be given the power to fine company bosses who deliberately puts their defined benefit (DB) schemes at risk, the government has confirmed.