FTSE100 company pension schemes have a net deficit of £41bn compared to a £12bn surplus in July last year, Lane Clark & Peacock figures show.
The actuarial and consultancy firm’s 15th annual Accounting for Pensions report said it is the largest 12 month swing in FTSE100 funding levels since the introduction of modern pensions accounting methods...
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