Smaller schemes may be eligible for a levy reduction but are failing to fill out a simple application form, the Pension Protection Fund (PPF) has said.
Funds which have less than £10m of liabilities and are closed to future accrual are able to use ‘Option Beta' - a way of calculating the levy required while taking account of the amount of deficit recovery...
Newspaper publisher Reach has requested discussions with the trustees of its pension funds to defer deficit recovery contributions (DRCs) to shore up finances during the coronavirus pandemic.
Debenhams has missed its April deficit recovery contribution (DRC) to its staff pension schemes as the struggling high street retailer files a notice of intent to appoint administrators amid the Covid-19 crisis.
The Local Government Pension Scheme (LGPS) has gone live with a cost transparency compliance system and has on-boarded all UK schemes onto the platform.
Against a Covid-19 backdrop of deteriorating funding positions and reduced ability to pay DRCs, Alistair Russell-Smith looks at key actions for scheme sponsors.
Universities Superannuation Scheme (USS) has said it will go ahead with its 31 March valuation despite significant falls in asset values over the past month.