The total deficit of defined benefit (DB) FTSE 350 pension schemes surged 80% over the year to date, according to Hymans Robertson.
Falling gilt yields have driven the deficit from £50bn to £90bn as of 12 December 2014, a record high for pension liabilities for FTSE 350 firms. This is despite companies contributing £16bn into schemes....
The Co-operative Group's Somerfield Pension Scheme has completed a buy-in with Pension Insurance Corporation (PIC), insuring the benefits of its pensioner members.
Caroline Rookes CBE and Michele Hirons-Wood have joined The Pension Superfund's board of trustees to focus on maintaining governance standards and safeguarding member benefits.
The first specialist independent firm advising pension schemes on bulk annuities or moving to a consolidator has been set up with ambitions to shake up the market.