BP has agreed to make more than £1.4bn of additional contributions to its pension schemes over the next five years in a bid to wipe out its deficit by 2017.
The scheme recently told members this year's deficit recovery contribution of £253.7m was brought forward to December 2012. This was on top of contributions of £306.9m to fund benefits accrued by scheme...
Only one third of defined benefit (DB) schemes lengthened their recovery plan end dates in 2019, according to research by Hymans Robertson.
Hargreaves Lansdown has been named as the slowest provider to switch pensions through the Origo transfer service.
The Old British Steel Pension Scheme (OBSPS) has agreed a £2bn full buy-in with Pension Insurance Corporation (PIC), one step closer to exiting Pension Protection Fund (PPF) assessment.
Much like when selling a house, DB plans need to tidy up before approaching the bulk annuity market, says David Ellis.
Just Group has completed a £340m buy-in with the Ibstock Pension Scheme in the insurer’s largest ever bulk annuity transaction.