The Marks and Spencer (M&S) Pension Scheme has insured around 15% of its pensioner liabilities through two bulk annuity insurance policies with Aviva and Phoenix Group.
The transactions, totalling £1.4bn, are comprised of Aviva's largest buy-in to date and Phoenix Group's first ever external buy-in. Aviva insured £925m worth of the defined benefit (DB) scheme's liabilities....
Coats' pension scheme members are not entitled to annual increases of 5%, the High Court has ruled in a rare instance of a court overturning a decision of The Pensions Ombudsman.
Trustees of the Airways Pension Scheme (APS) have been granted permission to use more than £1m of scheme assets to fund an appeal over discretionary increases.
Chancellor Philip Hammond is being pressed to tackle the impact of pensions allowances on the NHS' ability to recruit and retain staff.