Cash-strapped employers intent on closing their defined benefit schemes entirely should rethink their plans as alternative strategies could save them money, Aon Hewitt says.
The consultant said closing the scheme to future accrual or freezing can leave sponsors to deal with a massive deficit. It urged employers to consider other options, such as maintaining the scheme with...
The top stories this week were the High Court's decision to block the £12bn annuity transfer from Prudential to Rothesay Life, and a separate court ruling that 'raises the bar' for pension rectification exercises.
Guaranteed minimum pension (GMP) equalisation has soared to the top of pension schemes' to-do lists, with 58% stating it is a priority project, research from Equiniti has revealed.
Professional Pensions is holding its defined contribution (DC) conference on 4 September.