Support staff at Manchester University have overwhelmingly voted to take strike action over plans to reduce and close the defined benefit (DB) pension scheme.
From January 1 2019, the university wants to close the DB scheme to new support staff and put them into a defined contribution (DC) scheme. It also wants to close the final salary section of the DB scheme...
Pension schemes have been “shoehorned” into valuing liabilities against gilts, creating a “herd mentality” that does not reflect scheme funding accurately, says PwC.
As over 1,000 DB schemes seek to agree a valuation amid the crisis, Hope William-Smith looks at the considerations.
Trustees should have the ability to pause suspected scam transfers, respondents agreed in a Professional Pensions poll.
Defined benefit (DB) scheme members with weaker employers face a 50% chance of a cut in benefits due to sponsor insolvency, according to Hymans Robertson.
Mercer has launched a defined benefit (DB) master trust in a bid to offer a “best-in-class solution” that recognises the shrinking universe.