Dairy Crest will slash dividends by 25% to help fund the additional cash contributions to its pension scheme, the company confirms.
Group chief executive Mark Allen said the firm, which owns Cathedral City cheese and Clover, would pay £20m per year into its pension scheme from this October. However, due to the extra cash contributions...
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.