UK Coal has made changes to its two defined benefit schemes it says will cut service costs by 50% and agreed to review future accrual annually.
The company - the largest coal mining operation in the UK - said in its interim management statement, published today, that this enabled it to significantly increase contributions to cut the scheme's £172m...
This week's top stories include ITS' management buyout from Mercer, and The Pensions Regulator launching a probe into single-employer defined contribution schemes' default funds.
People retiring in the UK will on average outlive their pension savings by 10 years, according to research by the World Economic Forum (WEF).
Steps to improve auto-enrolment are uncontroversial and obvious, but the government is dawdling on introducing the necessary changes, argues Jack Jones.
Professional trustees will be expected to apply for accreditation as part of a framework intended to be launched on 1 July by the Professional Trustee Standards Working Group (PTSWG).