defined benefit

The combined pensions deficit of the UK's biggest companies has remained broadly unchanged over the last 12 months according to figures from JLT Employee Benefits (JLT EB).

Two thirds of employers do not have any processes in place to measure the effectiveness of their benefit spend.

HM Revenue and Customs (HMRC) has amended its value added tax (VAT) rules to allow defined benefit (DB) sponsors to reclaim input tax in some circumstances.

Mitie Group is consulting with members of its main defined benefit (DB) scheme over a proposed change to their future pension entitlement.

Lloyds Trade Union (LTU) members have voted in favour of a ballot on industrial action should Lloyds Banking Group (LBG) freeze pensionable pay increases.

Nine out of 10 respondents said public sector schemes would still be with us in a decade, although the majority of those thought they would be significantly changed.

Buzz respondents were not generally against underfunded schemes pursuing liability driven investment (LDI) strategies.

PZ Cussons three UK defined benefit (DB) schemes' total surplus has grown £4m to £19.3m as of 30 November 2013, compared to 2012's figure of £15m.

The Unilever defined benefit (DB) scheme deficit has fallen from £2.72bn to £1.65bn over 2013.

Barnett Waddingham partner Paul Latimer has been appointed head of pension administration following Nuala Hedges' decision to step down from the role at the end of last year.