Only 3% of final salary defined benefit (DB) schemes with assets of over £1bn are now open to new members according to Barnett Waddingham.
The consultant's Big Schemes Survey 2016 found 64% of these DB schemes were now closed to new members with a further 33% also closed to future accrual. Over two-thirds (67%) of 160 schemes surveyed...
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
Self-administered pension funds spent £14bn on payments to pensioners in Q2 2018, but only received £11.4bn of contributions (net of refunds), latest Office for National Statistics (ONS) data reveals.
The Pensions and Lifetime Savings Association (PLSA) has named the 17 members of its inaugural policy board after a competitive application process with 60 candidates.