defined benefit

The UK can pride itself on having the third largest pension system in the world, but the relative inefficiency of the UK defined contribution sector needs to be addressed, claims David Rowley who as a British journalist based in Sydney has spent the last three years reporting on Australian superannuation.

The Government has announced it will fully index public service pensions for workers reaching State Pension Age from April 2016 to 5 December 2018.

Ultra Electronics Holdings plans to close its £238m defined benefit (DB) pension scheme to future accrual from 5 April 2016.

Total funding levels of defined benefit (DB) pension schemes have improved since January despite volatile markets and low interest rates, according to JLT Employee Benefits.

Merchant Navy Officers Pension Fund (MNOPF) will close its defined benefit (DB) scheme to future accrual and instead introduce a 30% defined contribution (DC) rate for members.

Research shows employers are taking a more active role during the valuation process.

Scottish Widows' life and pension sales have risen by 10% since 2014 on the back of £2.8bn from its first two bulk annuity deals.

Sponsors and trustees are working together more closely during the valuation process but larger schemes are less satisfied with negotiations, according to research by Punter Southall.

A flat-rate of tax relief is the most likely reform to appear in the Chancellor's March Budget according to Aon Hewitt‘s predictions.

Amey OS has chosen SEI to provide fiduciary management services to its £135m defined benefit (DB) pension scheme.