Greggs has cut more than £15m from its defined benefit scheme after switching from Retail Prices Index-linking to Consumer Prices Index-linking.
The baker's interim results, published today, show the move resulted in an exceptional credit of £9.7m in the first six months of 2011. This helped shrink the scheme's deficit to £866,000 - down from...
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