Royal London's new business pension sales fell by 4% over the course of a year primarily due to a slowdown in defined benefit (DB) transfers, the firm's half year results reveal.
Life and pension sales decreased to £5.8bn in the first half of this year, 4% lower than during the same period last year when sales sat at £6.1bn. The slowdown in DB transfers causing the decrease...
The true level of flexibility for defined benefit (DB) schemes that take the ‘bespoke’ option laid out in the proposed DB funding code needs further clarification, the industry has said.
Coats Group has agreed with its UK pension trustees to defer the payment of its remaining deficit recovery contributions (DRCs) for 2020.
Defined benefit (DB) transfer values continued to increase to yet another record high during July but the number of people opting to exit final salary schemes remains steady, according to XPS Transfer Watch.
Over a third of defined benefit (DB) schemes with valuations between September 2017 and September 2018 were in surplus, according to data from The Pensions Regulator (TPR).
Advice giant Quilter has set aside £24m to compensate British Steel workers advised to transfer out of their defined benefit (DB) pensions by Lighthouse, doubling its previous redress provisions.