Venture capitalist 3i has given its pension scheme security over a £150m shareholding in 3i Infrastructure as part of a long-term de-risking strategy.
The company will retain all income and capital rights relating to the contingent assets, but the scheme will have recourse to them if 3i becomes insolvent or fails to comply with the recovery plan agreed...
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