Unison is considering making changes to its defined benefit scheme but has committed to keeping a viable final salary pension for staff, the union confirms.
The public sector union confirmed the deficit of its £275m scheme had increased as a result of the economic crisis. Unison general secretary Dave Prentis said: "Unison's pension scheme has taken a financial...
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.