BT members of the Prospect union have voted to approve a controversial pension restructure ahead of the defined benefit (DB) scheme's closure in April.
Managers and professional staff voted in favour of the deal, which would see the BT Pension Scheme (BTPS) close to around 11,000 managers employed before 2001. The staff will receive a 1%-2% increase...
A number of pension schemes have been prompted to lock in gains with a move into bonds after the estimated deficit across FTSE 100 DB pension schemes improved by £36bn, over the 12 months ending 30 June last year, JLT Employment Benefits found.
HM Treasury has agreed in principle to give NEST a £329m contingent liability guarantee in the event of the master trust's wind up or closure.
AMP Capital has set up a dedicated team to help institutional investors, including pension funds, invest in infrastructure through direct equity allocations.