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...
The secretary of state for work and pensions has told MPs clawback and avoidance measures could be imposed for the people responsible for driving Carillion over the cliff.
Occupational pension provision has continued to grow in value, but there remains large variance in incomes across the pensioner age group, according to latest government data.
Defined benefit (DB) schemes could have an aggregate surplus by 2021 under Pension Protection Fund (PPF) projections, its strategic plan for 2018 to 2021 reveals.
Investment consultants are failing to recommend products that outperform net of fees, the Competition and Markets Authority (CMA) has said as its investigation into the market continues.