Ford Motor Company has offered retired members of its US defined benefit pension scheme lump sum payments in order to reduce its liabilities, according to reports.
The news comes after Ford announced its plans to close the UK defined benefit scheme to new employees, prompting threats of strike action from Ford workers who are members of Unite (PP Online, 26 April)....
This week's top stories included the 'Buck' name being revived as Conduent sold off the HR consulting business to a private equity investor.
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.