THE economic downturn has wiped around £61bn off the value of FTSE 350 pension schemes, a Mercer report reveals.
The consultant said funding levels of the biggest 350 listed UK firms had plunged from a surplus of £14bn at March 31 to a deficit of £47bn at June 30. It said the average funding level was now 90pc –...
More needs to be done to speed up DB to DC transfers but, as Jonathan Stapleton says, more also needs to be done to protect members.
The Pensions Ombudsman (TPO) took on 2,566 early resolution cases in 2018/19 after onboarding a team from The Pensions Advisory Service (TPAS), according to its annual report and accounts.
The lifeboat fund is in a good position despite reserves taking a £0.6bn hit. But the ramifications of the EU judgment on member compensation is an area of concern for CEO Oliver Morley, writes Stephanie Baxter