US - The Pension Benefit Guaranty Corporation (PBGC) has sold almost six million shares in Delta Air Lines.
The shares were sold over the month of February by JPMorgan Investment Management Inc which was assigned investment and voting authority over the Delta stocks by PBGC.
As a result of this sale, PBGC holds 43.5 million or 14.9% of the Delta Common Stock.
A filing to the Securities and Exchange Commission said PBGC could acquire further stock in the airline.
PBGC took control of Delta's $3bn under funded pension plan in at the end of 2006 and has continued to pay benefits to 13,000 workers.
The 100 largest global pension funds are widely ignoring climate-related risks despite recent warnings by UN scientists, the Asset Owners Disclosure Project (AODP) says.
Premier Inn owner Whitbread has cut its defined benefit (DB) pension deficit to £162m ahead of its agreed £3.9bn sale of Costa Coffee to Coca-Cola.
Trends in longevity and mortality have proven difficult to forecast historically, but are vital to funding schemes and ensuring adequate retirement pots. James Phillips explores the key influences
The two-sided simplified annual pensions statement should be applauded, even if it missing information, says Jonathan Stapleton.