GMB will ballot utility workers for strike action on the 21 September in a dispute with Northumbrian Water over proposals to axe the final salary scheme.
Unions have been against the introduction of a Career Average Revalued Earnings (CARE) scheme where the firm would contribute 19.5% and members would add 8%. Northumbrian Water has been in consultation...
The collapse of Sir Philip Green’s retail giant Arcadia must be met with clear solutions and support for its pension scheme, which looks likely to enter Pension Protection Fund (PPF) assessment, Stephen Timms has said.
Nearly every trustee is confident of the next stage in their scheme’s strategy, despite almost an equal number being forced to consider replacing plans within the prior 12 months, according to research by Barnett Waddingham.
Companies could be overstating their pension liabilities by up to £60bn due to their life expectancy assumptions, according to XPS Pensions Group.
Defined benefit (DB) schemes that provide GMPs must revisit and, where necessary, top-up historic cash equivalent transfer values (CETVs) that have been calculated on an unequal basis, a landmark court judgment said last week.
Regulators must act now to impose some "proper regulation" to stop another defined benefit (DB) transfer advice disaster, saysTim Sargisson.