The aggregate deficit of the UK's defined benefit (DB) schemes rose to £450bn over the course of November, PwC's Skyval index has recorded.
At the end of the month, the combined liabilities on the funding measure used to calculate sponsor contributions was estimated to be £2trn, while assets totalled £1.6trn. The deficit was £40bn larger...
The Pensions and Lifetime Savings Association (PLSA) is in the process of convening an industry-wide group to take forward the work of the Institutional Disclosure Working Group (IDWG).
The Transfers and Re-registration Industry Group (TRIG) has given its support to an initiative which aims to complete occupational pension transfers within three weeks.
Scottish Widows has completed a bulk annuity deal for the Hitachi UK Limited Pension Scheme.