UK -More than 40% of firms have closed or are in the process of closing their defined benefit pension schemes, latest research from Aon Hewitt shows.
The consultant’s survey of 300 clients revealed a growing number of schemes are also turning to “flight plans” and buyouts to reduce risk. Aon Hewitt benefits design specialist James Patten said schemes...
UK - Government plans to cut a subsidy boosting the appeal of solar panel infrastructure investments could scupper scheme plans to use these investments as part of their liability matching strategies, fund managers say.
UK - Aegon is to close its defined benefit pension scheme to future accrual in March 2013 as part of its restructure and cost saving programme.
UK - The Pension Protection Fund has published its annual report - revealing a surplus of £678m ($1.1bn) at 31 March.
UK - Schemes looking to maximise returns in a low interest rate environment must work closely with investment banks to boost member outcomes, Barclays chief executive Bob Diamond says.
UK - The government has offered unions an improved accrual rate of 1/60th and more protection for workers approaching retirement in a concession on public sector pension changes.