Royal Mail has started a formal consultation process on closing its "unaffordable" defined benefit (DB) scheme to future accrual from April 2018.
The plan, which was first announced in August last year, could affect around 90,000 employees. The scheme reported a surplus of £1.77bn on an IAS 19 accounting basis as of 31 March 2016, with assets...
Savers are being warned by the Insolvency Service to guard their pension pots from investment scammers and negligent trustees as it winds up 24 companies.
Respondents say they should only be required in certain situations as the system is not broken.
Smart Pension has absorbed more than 6,500 members from the Corporate Pensions Trust (CPT) after its trustees decided not to apply for authorisation.