defined benefit

Fujitsu Limited has paid £800m to Fujitsu UK and Ireland in order to "substantially improve" the funding position of its defined benefit schemes.

Pensions Buzz respondents were sceptical as to whether schemes could benefit from stepping into the role of lending directly to businesses.

Most contributors thought the failure of the Wheels test case would not have a big impact in schemes. The bid to secure tax relief on VAT paid on investment management charges was rejected by the European Courts of Justice earlier this month.

Pensions minister Steve Webb has said the abolition of contracting out, brought forward to 2016, does not mean defined ambition proposals must be finished earlier.

Partnership has expanded its defined benefit business with the appointments of Mike Walsh and Martin Parker.

The industry has called on pensions minister Steve Webb to publish guidance on defined ambition schemes as the abolition of contracting out has been moved from 2017 to 2016.

Newspaper group Trinity Mirror has almost quadrupled the amount of de-risking insurance contracts it holds as discount rate falls increased its deficit, its final year results show.

Prudential's 2012 corporate pension sales have remained at a fifth lower than 2011's level as the business remains focused on increasing revenue from existing clients instead of acquiring new business, its final results show.

Over a third of European defined benefit schemes feel they do not have access to portfolio data which helps them fulfil regulatory requirements, research from State Street reveals.

John Lewis is conducting an extensive two-year review into its pension provision after revealing its final salary scheme deficit rose by almost 29% in 2012.