Trustees of the £10bn Co-operative pension fund are demanding £50m to split the scheme and enable a deal to rescue the struggling bank, according to reports.
If paid, the trustees would allow the Co-operative Bank to walk away from the Pace scheme, with obligations then segregated between the bank and the wider group, Sky News has reported. The trustees...
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.