Education technology provider RM has seen the deficit of its defined benefit (DB) scheme rise by £12.8m in one year.
As of 30 November 2016, the scheme recorded a deficit of £34.8m on the IAS 19 accounting measure, up 59% from £21.9m at the same date in 2015. The company blamed a fall in the scheme's discount rate...
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