Thousands of steelworkers to fall into PPF after failing to return paperwork
More than 25,000 steelworkers did not return their 'options forms' and as a consequence will remain in the current British Steel Pension Scheme (BSPS) for now, to move into the Pension Protection Fund (PPF) at the end of March.
Of 122,000 members, fewer than 97,000 members completed and returned 'options forms', of which 86% were from members choosing to switch to the New BSPS and 14% were from members choosing to move into the...
More on Defined Benefit
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Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the February 2021 estimates on the various measures…
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Longevity assumptions retain stability despite Covid
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Covid restrictions lead Mitchells & Butlers to defer £13m of contributions
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BA defers £450m of DRCs after 'swift and severe' pandemic closures
British Airways (BA) has deferred deficit recovery contributions (DRCs) totalling £450m following an agreement with trustees after a catastrophic year for the airline industry.
