Tata Steel UK has agreed with unions to start consulting on closing the British Steel Pension Scheme (BSPS) and replacing it with a "competitive" defined contribution (DC) arrangement.
Today's announcement comes as the company committed to keeping the Port Talbot steelworks open, saving over 4,500 jobs in south Wales, after agreeing a £1bn rescue deal with the unions. They agreed...
UK pension schemes are working hard to counter climate risks across investment portfolios, but the assessment of climate risks to sponsor covenant must be a key focus of schemes’ broader risk assessment, says Michael Bushnell.
Only one third of defined benefit (DB) schemes lengthened their recovery plan end dates in 2019, according to research by Hymans Robertson.
Hargreaves Lansdown has been named as the slowest provider to switch pensions through the Origo transfer service.
Regulatory guidance “could set too high a hurdle” for superfunds, Lane Clark and Peacock (LCP) warns.
The Department for Work and Pensions is to make it mandatory for auto-enrolment defined contribution (DC) schemes to use simpler annual statements.