DB deficits shrink by £43bn in February
Total funding levels of defined benefit (DB) pension schemes have improved since January despite volatile markets and low interest rates, according to JLT Employee Benefits.
The consultant's latest monthly numbers showed the deficit for all private sector pension scheme including FTSE companies had fallen by £43bn from £252bn on 31 January to £209bn on 29 February. The meant...
More on Defined Benefit
Exclusive: Trustees push schemes for tech support ahead of new online era
Defined benefit (DB) scheme trustees are looking to their schemes to provide them with better technological support, with eight in ten agreeing ad-hoc and online meetings will permanently replace the pre-Covid quarterly meeting cycle.
Single-day pension transfers rise but average completion time dips
Average transfer takes 11.9 days
Aberdeen transport fund completes £230m LGPS buy-in with Rothesay
The Aberdeen City Council Transport Fund has agreed a £230m buy-in with Rothesay in the insurer’s first deal with a Local Government Pension Scheme (LGPS) fund.
L&G agrees £400m deal with own scheme
The Legal & General (L&G) Group UK Senior Pension Scheme has agreed an assured payment policy (APP) deal with its insurer sponsor.
Boohoo acquisition of Debenhams leaves schemes with PPF
The Debenhams brand and website has been acquired by online fashion retailer Boohoo for £55m, although the pension scheme, shops, and stock will not be purchased.
