QinetiQ has closed its defined benefit (DB) scheme to future accrual, cutting its deficit by half to £20m.
In its half yearly report, the defence contractor said it transferred all 8,200 members into its trust-based defined contribution (DC) scheme, providing compensation. The move reduced liabilities by £31m...
The Centre for Social Justice is calling for the state pension age to be raised to 70 by 2028 and to 75 by 2035, a much faster rise than currently planned.
The High Court has blocked the £12bn transfer of Prudential's annuity book to Rothesay Life, citing the insurer's lack of "established reputation" and differing "capital management policies".
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.