The collective defined benefit (DB) deficit could be slashed by £25bn if schemes used more accurate longevity assumptions, according to Club Vita.
Funds are typically over-estimating longevity and increasing liabilities by 1%, equivalent to paying everyone's pensions for four months after their death. Schemes with over £1bn of assets under management...
Mitchells & Butlers has deferred £13m of deficit recovery contributions (DRCs) after tier four Covid restrictions wreaked havoc across the hospitality sector.
British Airways (BA) has deferred deficit recovery contributions (DRCs) totalling £450m following an agreement with trustees after a catastrophic year for the airline industry.
Jump from 554 in 2019
The Plumbing and Mechanical Services (UK) Industry Pension Scheme was 99% funded on a low-dependency basis, a valuation conducted amid economic turmoil has confirmed.
Professional Pensions rounds up some of the latest tender awards from across the industry.