A British Gas pension scheme is set to cap pensionable pay for its existing member after trade union negotiators recommended members accept proposals.
The scheme - called the Centrica Engineers Pension Scheme after British Gas's parent company Centrica - has been in negotiations with the GMB union since May, with both sides reaching an agreement to cap...
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