defined benefit

Helen Morrissey says the damage done by QE will take years to fix

Lloyds Banking Group (LBG) has confirmed it will scrap pensionable pay increases in its defined benefit (DB) schemes from April, netting a one-off saving of £1bn.

Steven Hull has been appointed partner within Eversheds' London office and joins from the law firm Ashurst where he was head of the pensions department.

Former Buck Consultants' senior corporate actuary Colin Richardson has joined PTL as a client director within its growing Leeds office.

PwC has added two partners, Julia Dickson and Gavin Stoner, to its employer covenant assessment team, taking its number of staff to 50.

HM Revenue and Customs has announced measures to help defined benefit (DB) schemes handle the administration associated with the abolition of contracting out.

The John Lewis Partnership defined benefit (DB) scheme's total accounting deficit hit £1bn in January 2014, its latest results show.

Bedfordshire Fire and Rescue Service has appointed the London Pension Fund Authority (LPFA) to provide third-party administration and payroll services.

Defined benefit (DB) pension schemes are more satisfied with their investment consultants (83%) than defined contribution (DC) plans (79%), according to the National Association of Pension Funds (NAPF).

Aerion Fund Management, the in-house fund manager for the National Grid UK pension scheme, has appointed Berenberg to manage a £3.5bn active currency overlay mandate.