Engineering group GKN has announced it closed its two UK defined benefit (DB) schemes to future accrual on 1 July, after falls in bond yields increased liabilities in 2016.
Its half-yearly report published today, the firm also revealed the total accounting deficit for these schemes, called GKN 2 and GKN 3, decreased slightly to £1.1bn on 30 June from £1.2bn on 31 December...
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.