Defined benefit (DB) pension scheme sponsors issued 249 profit warnings last year, 90% of which were specifically related to the coronavirus pandemic, according to EY.
The findings published today (1 February) built on the back of October research from the auditor which found nearly two-in-three schemes had issued profit warnings in the first nine months of 2020...
“Mounting red flags of financial stress” have meant almost two-thirds of listed companies with defined benefit (DB) schemes have issued profit warnings this year, EY says.
With rumours once again swirling around the future of pensions tax relief in the run up to this year's Budget, any reduced incentive for long-term savers could risk further exacerbating the generational divide in pensions, says Tom Selby
Trustees are set to have an increased duty of care to ensure employees and members make informed choices when accessing their pension, according to Wealth At Work.
The Family Building Society’s 250-member defined benefit (DB) scheme has transferred into TPT Retirement Solutions’ master trust, DB Complete.