The combined deficit of FTSE 100 defined benefit (DB) schemes grew by more than £10bn over 2016, Barnett Waddingham research has estimated.
This was largely driven by a significant drop in discount rates, which on average fell by 1.1 percentage points, from 3.8% at the end of 2015 to 2.7% on 31 December 2016. The consultancy said for a scheme...
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.