Royal Philips has completed a £2.4bn buy-in with Pension Insurance Corporation (PIC) that will enable it to wind up its scheme following earlier transactions to insure almost £1bn in benefits.
The latest deal covers approximately 26,000 of the scheme's 33,000 UK members. It follows a £484m buy-in with Rothesay Life in 2013, and two buy-ins with Prudential in 2014. The firm said the latest...
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.