The balance of schemes monitored by the Pension Protection Fund has fallen from a surplus of £2.3bn to a deficit of £13.5bn since the end of April, figures show.
The PPF 7800 index of 6,553 defined benefit schemes revealed the £15.8bn drop. The funding ratio for the index, which monitors total assets as a percentage of section 179 liabilities for all the schemes,...
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