Pension Insurance Corporation (PIC) has invested £75m in debt issued by Virgin Atlantic Airways (VAA) secured against the airlines landing slots at Heathrow Airport.
The bulk annuity provider is the largest member of a small group of lenders to the airline company, which is borrowing £220m in total. It is believed to be the first time a European airline has raised...
More needs to be done to speed up DB to DC transfers but, as Jonathan Stapleton says, more also needs to be done to protect members.
The Pensions Ombudsman (TPO) took on 2,566 early resolution cases in 2018/19 after onboarding a team from The Pensions Advisory Service (TPAS), according to its annual report and accounts.
The lifeboat fund is in a good position despite reserves taking a £0.6bn hit. But the ramifications of the EU judgment on member compensation is an area of concern for CEO Oliver Morley, writes Stephanie Baxter