British American Tobacco pension schemes' net liabilities almost double in a year
British American Tobacco’s (BAT) overall net liability for its pensions and healthcare schemes in group subsidiaries nearly doubled in the year to 31 December 2019 to £1.03bn from £518m the year prior.
The firm's full year results revealed the increase may be largely attributed to lower discount rates in the US and the UK, and the agreement with the Pension Insurance Corporation (PIC), whereby the trustees...
More on Industry
Sammons Salary Survey 2020: Confidence over career moves growing
As Sammons Pensions Recruitment publishes its 2020 Salary Survey, Sarah Bergin-McCarthy finds the current climate is not hampering regrowth.
Chris Sier fintech ClearGlass Analytics closes £2.6m seed funding round
ClearGlass Analytics has closed a £2.6m funding round as it delivers greater accountability to pension funds and the wider asset management market.
Royal London pension sales feel Covid bite
Life and pensions new business sales at Royal London were 20% lower in 2020 due to the impact of national lockdowns on the UK economy.
Five stories you may have missed this week
This week’s top stories included the chancellor’s freezing of the lifetime allowance in the Spring Budget, along with the industry’s unfavourable response to the move.
KPMG employer covenant team acquired by private equity firm H.I.G Europe
The restructuring division of KPMG, including its employer covenant team, will be acquired by H.I.G Europe.
