British Airways (BA) has opened a 'flexible' defined contribution (DC) scheme, offering a range of contribution rates and the ability to take cash payments in lieu of a pension.
The British Airways Pension Plan (BAPP) was opened on 1 April, replacing one of the company's two defined benefit (DB) schemes, the New Airways Pension Scheme (NAPS), and the DC British Airways Retirement...
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.