GKN trustees reach agreement over Dana merger
GKN has reached an agreement with its scheme trustees as part of a $6bn (£4.3bn) proposal to merge its Driveline businesses with Dana Incorporated.
Under the terms agreed today, GKN shareholders will hold 47.25% of the enlarged business. Dana will also pay GKN $1.6bn in cash and the combined group will take on $1bn of GKN's pension deficit. As...
More on Defined Benefit
Mothercare secures revised payment schedule with pension trustees
The parent of collapsed UK retailer Mothercare has secured a revised payment schedule with its pension scheme trustees and said it is “on track” with its planned recapitalisation.
Hargreaves Lansdown: Pension tax system a 'bloated, inefficient mess'
Only a “comprehensive rethink” will be able to fix the “bloated, inefficient mess” of the current pension tax system, says Hargreaves Lansdown head of policy Tom McPhail.
Ombudsman rejects complaints against British Steel trustees
The Pensions Ombudsman (TPO) has rejected a number of complaints from members of the embattled and collapsed British Steel Pension Scheme (BSPS).
Purple Book reveals DB risk up but PPF 'bigger and stronger than ever'
Plenty of risk remains in the Pension Protection Fund's (PPF) universe but the outlook on funding levels is positive, the lifeboat says as it launches its 2019 Purple Book.
The challenges of a self-sufficiency approach
A self-sufficiency approach is not riskless and trustees must consider covenant strength and longevity exposure. Chris Ramsey looks at the key considerations of running schemes on.
