Plumbing Pensions seeks approval to fund legal battles for s75 non-payments
The trustees of the £2bn Plumbing and Mechanical Services (UK) Industry Pension Scheme are seeking court approval to use scheme funds in potential upcoming legal battles.
The 40,000-member multi-employer scheme is in the process of recovering section 75 debts from employers, some of whom are on the hook for orphan liabilities on a buyout basis. Orphan liabilities are left...
More on Defined Benefit
Richard Jones: Looking for good people for the Stoneport club
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.
Longevity assumptions retain stability despite Covid
The outlook for future longevity in the UK has not necessarily worsened as a result of the coronavirus pandemic, Aon says.
Covid restrictions lead Mitchells & Butlers to defer £13m of contributions
Mitchells & Butlers has deferred £13m of deficit recovery contributions (DRCs) after tier four Covid restrictions wreaked havoc across the hospitality sector.
BA defers £450m of DRCs after 'swift and severe' pandemic closures
British Airways (BA) has deferred deficit recovery contributions (DRCs) totalling £450m following an agreement with trustees after a catastrophic year for the airline industry.
DB transfer complaints to ombudsman jump 44% in 2020
Jump from 554 in 2019
