Trustees of the British Airways pension schemes have been accused of trying to grant "gratuitous" and "unearned" benefits to scheme members in opening statements of a landmark trial.
The case, which began at the High Court yesterday, centres on a discretionary 0.2% increase in benefits for the 2013/14 financial year granted by trustees of the Airways Pension Scheme (APS). This followed...
Advice giant Quilter has set aside £24m to compensate British Steel workers advised to transfer out of their defined benefit (DB) pensions by Lighthouse, doubling its previous redress provisions.
More than half of respondents to a Professional Pensions survey would like to see the government launch a small pots taskforce to stop them undermining the success of auto-enrolment (AE).
Defined benefit (DB) schemes will have to wait an extra year and a half on average to agree a buyout compared to their pre-Covid-19 endgame journey plans, Barnett Waddingham estimates.
ITV has submitted a £31m offer to The Pensions Regulator (TPR) for the Box Clever Pension Scheme after being forced to set out how it would financially support the scheme following a lengthy court process.
In the first feature of a three-part series, Iain Clacher and Con Keating look back at the UK’s defined benefit universe, exploring why the schemes were set up, how they have changed, and the case for their creation.