Some of the country's largest firms are ignoring the threat of increased member longevity and have failed to increase their assumptions, analysis of accounts reveals.
Longevity analysis firm Club Vita scrutinised the 2010 annual accounts of 118 FTSE350 companies with defined benefit pension schemes. It found 57 of these had not increased their longevity assumptions...
Changes to corporation tax announced in the Spring Budget could see defined benefit (DB) scheme sponsors defer contributions in favour of tax relief, according to Barnett Waddingham.
Defined benefit (DB) pension scheme sponsors issued 249 profit warnings last year, 90% of which were specifically related to the coronavirus pandemic, according to EY.
“Mounting red flags of financial stress” have meant almost two-thirds of listed companies with defined benefit (DB) schemes have issued profit warnings this year, EY says.
With rumours once again swirling around the future of pensions tax relief in the run up to this year's Budget, any reduced incentive for long-term savers could risk further exacerbating the generational divide in pensions, says Tom Selby