Dawson International has entered administration after directors and trustees failed to agree on a solution to the plug the firm's scheme deficit.
The luxury textile producer had been struggling to fund the scheme, which reported a deficit of £12.9m on an accounting basis in December, but has a shortfall in excess of £50m on an actuarial basis...
A second employer has been appointed to stabilise the National Institute of Agricultural Botany (NIAB) pension scheme after intervention from The Pensions Regulator (TPR) when trustees failed to agree a valuation in 2015.
UK defined benefit (DB) schemes lose up to £250m a year due to less tax-efficient funds, according to research by the Asset Management Exchange (AMX) and Northern Trust.
One-in-ten defined benefit (DB) schemes have already discussed the option of superfund consolidation as a target endgame while a further 9% are planning to do so shortly, according to Willis Towers Watson (WTW).
Consultants, trade bodies, and professional societies across the pensions industry have responded relatively positively to guidance from The Pensions Regulator (TPR) that has today signalled a clear start for defined benefit (DB) scheme consolidation...
Defined benefit (DB) scheme consolidators The Pensions Superfund and Clara Pensions are both set to begin transacting as soon as possible after new guidance for their operations was issued by The Pensions Regulator (TPR).