Merchant Navy Officers Pension Fund (MNOPF) will close its defined benefit (DB) scheme to future accrual and instead introduce a 30% defined contribution (DC) rate for members.
The decision to close the DB scheme to future accrual from 31 March 2016 followed discussions with both employer and employee representatives. This included a member consultation and opportunities for...
Online provider Pension Bee has created a flexible pension for self-employed savers, allowing them to make contributions according to their income.
The Pensions Regulator’s (TPR) long-term funding approach will put extra financial pressure on UK pension scheme sponsors, according to Aon.
Older savers are at risk of running out of their defined contribution (DC) pension savings with a third of their retirement still ahead, according to research by The People’s Pension and State Street Global Advisors.
Defined contribution (DC) contributions were scaled back by 11% in the second quarter of 2020 as the impact of the pandemic set in, according to the Office for National Statistics (ONS).
Every month, several firms issue trackers of the aggregate defined benefit (DB) scheme funding position. See here for the December 2020 estimates on the various measures…