Only 3% of final salary defined benefit (DB) schemes with assets of over £1bn are now open to new members according to Barnett Waddingham.
The consultant's Big Schemes Survey 2016 found 64% of these DB schemes were now closed to new members with a further 33% also closed to future accrual. Over two-thirds (67%) of 160 schemes surveyed...
The government will press ahead with plans to use the “largely untapped pool of capital” in defined contribution (DC) schemes to invest in venture capital and growth equity assets.
Chancellor Rishi Sunak has confirmed that the pensions lifetime allowance will be frozen at its current rate until 2026.
Tender Watch: Access appoints Minerva for RI review; National LGPS Frameworks launches global custody solution
Professional Pensions rounds up some of the latest tender news from across the industry.
The latest mortality monitor update from the Continuous Mortality Investigation (CMI) shows excess death rates are continuing to fall as the UK passes through the second wave of the Covid-19 pandemic.
Universities Superannuation Scheme (USS) has reported a technical provisions deficit of between £14.9bn and £17.9bn as of 31 March 2020, and delayed its valuation as it considers how to proceed.