Bulk annuity specialist Paternoster is offering struggling firms a way out of their Pension Protection Fund obligations by guaranteeing their benefits to the same levels.
Chief executive Mark Wood said Paternoster had agreed deals with two employers to guarantee benefits up to 90pc and without the £26,000 a year cap imposed by the PPF. Once insured, companies no longer...
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.