British Airways is set to close the New Airways Pension Scheme to future accrual and launch a flexible benefits scheme incorporating a new defined contribution pension scheme.
The airline said the move comes after consultation with the airline's trade unions and employees. The new scheme will open on 1 April 2018 and replace the airline's main UK defined benefit scheme, the...
DB scheme consolidator Stoneport hopes to get 100 schemes signed up by the end of next year, but employer covenant will be vital, chief executive Richard Jones tells James Phillips.
The outlook for future longevity in the UK has not necessarily worsened as a result of the coronavirus pandemic, Aon says.
Mitchells & Butlers has deferred £13m of deficit recovery contributions (DRCs) after tier four Covid restrictions wreaked havoc across the hospitality sector.
British Airways (BA) has deferred deficit recovery contributions (DRCs) totalling £450m following an agreement with trustees after a catastrophic year for the airline industry.
Defined contribution (DC) chair’s statements need a major re-think as part of the Department for Work and Pensions’ five-yearly statutory review on the rules around scheme governance in 2021, LCP says.