Allowing trustees to convert a member's guaranteed minimum pension into other actuarially equivalent benefits could help cut scheme costs, a consultant says.
Lane Clark & Peacock says the plans – outlined in the Pensions Bill – could lead to significant scheme redesigns including contracting back in and wholesale simplification of past service benefits. ...
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.