The combined deficit of the UK's defined benefit (DB) pension schemes fell 15% to £105bn on an accounting basis during February, JLT Employee Benefits analysis reveals.
At the end of the month, the consultancy's monthly index said private sector DB assets totalled £1.5trn, while liabilities were at £1.6trn, resulting in an overall funding level of 93.6%. The deficit...
More needs to be done to speed up DB to DC transfers but, as Jonathan Stapleton says, more also needs to be done to protect members.
The Pensions Ombudsman (TPO) took on 2,566 early resolution cases in 2018/19 after onboarding a team from The Pensions Advisory Service (TPAS), according to its annual report and accounts.
The lifeboat fund is in a good position despite reserves taking a £0.6bn hit. But the ramifications of the EU judgment on member compensation is an area of concern for CEO Oliver Morley, writes Stephanie Baxter