Phoenix group has closed its defined benefit pension schemes to future accrual to limit future costs and volatility relating to the funds' deficit.
In its interim results, published today, the firm - a specialist manager of closed pension funds - said the closure of the DB sections of the Pearl Staff and PGL pension schemes had resulted in a £10m...
This week's top stories included Legal & General acquiring MyFutureNow to provide a dashboard service to customers, while also agreeing a hybrid buy-in with a Hitachi scheme.
NEST has signed up to the government-backed Star Initiative, taking all of its 8 million members' pension pots with it.
It is perhaps inherently difficult to find an agreed definition of value for money, but some methodologies could act as a stopgap, argues Jonathan Stapleton.