Costain has transferred its interest in six private finance initiative investments to the company pension scheme, wiping £22m off its deficit, results reveal.
The international engineering and construction group said the valuation was higher than the estimated value for the equity positions and represented a discount rate below 7%. Its interim results said...
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