Defined benefit (DB) schemes saw their aggregated deficit more than double over December, ending 2018 with a funding level of 93.5%, says JLT Employee Benefits.
On an IAS 19 accounting basis, the funding shortfall for all private sector DB schemes was recorded at £107bn, far higher than the £48bn posted at the end of November. The consultancy's figures mean...
The Co-operative Group's Somerfield Pension Scheme has completed a buy-in with Pension Insurance Corporation (PIC), insuring the benefits of its pensioner members.
Caroline Rookes CBE and Michele Hirons-Wood have joined The Pension Superfund's board of trustees to focus on maintaining governance standards and safeguarding member benefits.
The first specialist independent firm advising pension schemes on bulk annuities or moving to a consolidator has been set up with ambitions to shake up the market.